Callaway Golf Company (NYSE: ELY) today announced that its Board of Directors has approved a dividend for the second quarter of 1999 of $.07 per share, payable September 21, 1999 for shareholders of record as of August 31, 1999. Callaway Golf makes and sells Big Bertha(R) metal woods and irons, including Great Big Bertha(R) Hawk Eye(R) Titanium Metal Woods, Big Bertha(R) Steelhead(TM) Stainless Steel Metal Woods, Big Bertha(R) X-12(TM) Irons and Odyssey(R) Putters and Wedges with Stronomic(R) and Lyconite(TM) Inserts. For more information about Callaway Golf Company, please visit the company's website on the internet at www.callawaygolf.com If you would like to receive Callaway Golf's press releases via e-mail in the future, please send your request to: newslist@callawaygolf.com. ots Original Text Service: Callaway Golf Internet: http://www.newsaktuell.de Contact: David Rane or Krista Mallory of Callaway Golf, Tel: +1-760-931-1771 Web site: http://www.callawaygolf.com