Mick McCormick Joins Callaway Golf as Head of Global Sales; Bruce Parker to Transition From Top U.S. Sales Position

Callaway Golf Company (NYSE: ELY) announced today that Bruce Parker, the Company's Senior Executive Vice President, U.S. Sales, is stepping down from his post effective January 1, 2000. Mr. Parker will remain employed by the Company pursuant to a new four-year agreement where he will provide valuable support and counseling to Chairman and CEO Ely Callaway and President Chuck Yash on matters related to sales. Mick McCormick will join Callaway Golf effective January 10, 2000, as Executive Vice President, Global Sales, a new position. Mr. McCormick, who has been serving as Director of National Sales responsible for regional United States accounts for Nike Inc., will report to Mr. Yash, and will be responsible for all golf club sales functions. Chris Holiday, the Company's Senior Vice President, U.S. Sales, has been appointed to be the head of golf club sales for U.S. markets. Jim Chenevey has been appointed Senior Vice President, International Sales, for the Company, effective January 1, 2000. He will now be directly responsible for all sales functions for golf clubs and golf balls outside the United States. Both Mr. Holiday and Mr. Chenevey will report to Mr. McCormick. "In the fifteen years Bruce Parker has been our 'chief merchant,' we have sold over $3.7 billion worth of golf clubs and accessories," said Ely Callaway, Founder, Chairman and CEO of Callaway Golf. "This is a great and incomparable achievement in our industry. Bruce's drive, instincts, and talents have contributed greatly to the success of Callaway Golf and its retailers. Fortunately, we will still have access to Bruce's talents for the next four years." "Going forward under our new arrangement with Bruce, we believe he will be a valuable resource that we can draw upon for guidance and counsel, as well as a tremendous representative of our company in the golfing community," said Chuck Yash, President of Callaway Golf. "I think our team, both in the U.S. and abroad, will benefit as a direct result of Bruce's new role." "I am very lucky to be associated with great people and a great company," said Mr. Parker. "Callaway Golf's record of success reflects the hard work and exceptional ability of many people, as well as the fact that we have always been fortunate enough to have the very best products in the marketplace. I look forward to a very challenging and equally successful four years in my new role, where I hope to help the Company maintain its leadership position in golf clubs and establish itself as a major player in golf balls." Mr. McCormick has been with Nike Inc. since 1992, serving as Eastern Regional Sales Manager; Director of Golf Sales, Southern Regional Sales Manager; and Director National Sales. Most recently, he was responsible for more than $2 billion of Nike footwear, apparel and equipment revenues. From 1989 to 1992 he was Vice President Operations and Merchandising for Las Vegas Golf and Tennis, a nationally recognized franchisor of golf club and golf ball retailers. Mr. McCormick owned and operated a golf equipment retail store in Tucson, Arizona, from 1985 to 1988. "Mick McCormick will be just the leader we need going forward," said Ely Callaway. "His broad experience in golf retailing and his cutting edge knowledge of selling will guide our domestic and international sales team well into the next millennium. The addition of his talents and energy helps to solidify Chuck Yash's strong management team." "I am very pleased that someone as talented and respected as Mick has decided to join Callaway Golf and be an important part of our future," said Chuck Yash. "Managing and growing a global sales function that is already the best in the industry is no easy task - but Mick is certainly up to that task in my opinion. His arrival adds to our anticipation of a bright future." "Returning to the golf business has been a goal of mine for some time," said Mr. McCormick, "and nothing could be better than returning to the business as a part of Callaway Golf. I look forward to working with the sales team and top management at Callaway Golf as we continue to build upon the Company's many strengths." Mr. Yash, commenting on the new executive structure in Callaway Golf sales, said, "We believe that promoting Chris Holiday and Jim Chenevey to head up U.S. and international sales respectively is a reflection of the depth of talent on the management team here at Callaway Golf. The addition of Mick McCormick puts a very strong team in place as Callaway Golf moves into a new phase of global sales and marketing, with emphasis on coordinated strengthening of the Callaway brand on golf clubs and golf balls worldwide." In connection with the relinquishment of his position as an officer of the Company, Mr. Parker also resigned as a Director of Callaway Golf, effective December 22, 1999. Callaway Golf Company makes and sells Big Bertha(R) Metal Woods and Irons, including Great Big Bertha(R) Hawk Eye(R) Titanium Metal Woods and Tungsten Injected Titanium Irons, Big Bertha(R) Steelhead(TM) Stainless Steel Metal Woods, Big Bertha(R) X-12(TM) Stainless Steel Irons, and Bobby Jones(R) and Carlsbad Series(TM) putters. Callaway Golf Company also makes and sells Odyssey(R) putters and wedges with Stronomic(R) and Lyconite(R) inserts. For more information about Callaway Golf Company, please visit our websites at www.callawaygolf.com and www.odysseygolf.com. ots Original Text Service: Callaway Golf Company Internet: http://www.newsaktuell.de Contact: Ely Callaway, Chuck Yash or Larry Dorman, all of Callaway Golf Company, (USA) 760-931-1771 Company News On-Call: http://www.prnewswire.com/comp/124825.html or fax, 800-758-5804, ext. 124825 Web site: http://www.callawaygolf.com


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