CALLAWAY GOLF ANNOUNCES GLOBAL LAUNCH OF RAZR FIT DRIVER

Straightforward and Meaningful Adjustability Meets Unparalleled Performance

CARLSBAD, Calif., December 7, 2011 /PRNewswire/ — Callaway Golf Company (NYSE: ELY) today announced the February 17th worldwide availability of its much-anticipated RAZR Fit™ Driver and RAZR Fit™ Fairway Woods. Building on 29 years of club making excellence, Callaway’s RAZR Fit line of woods represents the Company’s most advanced products to date. By combining the performance benefits gained from several proprietary technologies with an easy-to-understand, adjustable hosel — plus moveable weights to promote draw or neutral ball flight — Callaway is empowering players around the world to dial in their game with RAZR Fit. Marking a new standard in performance customization, RAZR Fit’s straightforward adjustability delivers optimum performance and real results for every golf swing.

“We are particularly proud of the performance gains we have achieved while adding the benefits of adjustability within the RAZR Fit design,” said Dr. Alan Hocknell, Sr. Vice President of Research & Development, Callaway Golf. “Callaway is not just entering the adjustability race with the introduction of RAZR Fit, we are taking the pole position. The adjustable features, combined with our proprietary technologies, allow golfers to play a more meaningful role than ever before in their journey to optimized performance.”

The RAZR Fit Driver and RAZR Fit Fairway Woods both feature Callaway’s renowned OptiFit® adjustability systemódesigned for easy use and noticeable changes in trajectory for each of the settings. The system allows golfers to adjust the club’s face angle to three address positions: Open, Square and Closed. This adjustment is controlled within the “cog”, a rotatable element of the hosel that changes the angle of the shaft axis relative to the head. Rotating the cog enables golfers to choose a preferred look at address while also minimizing a slice or hook generated by the club’s delivery to the ball. Because the shaft does not rotate with the cog, shaft graphics and grip reminders remain consistent to the player’s look and feel when they adjust the face angle. In the driverhead, OptiFit weights (one weighing 12 grams and the other 2 grams) are featured in the sole's toe and heal positions. These are movable and can be exchanged to create a meaningful shift in the club's center of gravity and a perceivable draw or neutral ball flight.

Since 2004, Callaway has led the industry in multi-material clubhead construction, advancing club design in capacities such as mass property optimization and aerodynamic shaping. Now, with the introduction of RAZR Fit, the Company furthers its heritage in innovation by uniting multi-material design with the fundamental benefits of adjustability for every golfer’s swing.

Specifically, the crown of the RAZR Fit Driver is comprised of Forged Composite™, an advanced carbon composite material that Callaway developed over several years in partnership with Automobili Lamborghini. Lighter, stronger, more precise than titanium (the material used in more than 90% of the current drivers in the market), Forged Composite allows Callaway engineers to save crucial weight and precisely control the thickness of the crown. These benefits give the RAZR Fit Driver a lower center of gravity, making it more forgiving on off-center hits.

Callaway’s RAZR Fit Driver also incorporates a proprietary innovation in aerodynamic shaping called Streamlined Surface Technology that addresses the complex variations in aerodynamic flow during a driver’s entire downswing—from transition through impact. More than four years in the making, Streamlined Surface Technology has reduced RAZR Fit’s energy loss due to drag by 14% (relative to its predecessor, the RAZR Hawk™ Driver), despite the addition of an adjustable hosel. This contributes to increased ball speed at impact, a critical element of driving distance. This aerodynamics technology is accompanied by the debut of the Company’s new Speed Frame™ Face Technology, which combines hyperbolic shaping of the clubface with precision thickness control to achieve a larger sweet spot. This new technology optimizes stress distribution and increases ball speeds across the face. Callaway engineers were also able to save weight by implementing this new face technology.

The RAZR Fit Driver comes standard with a 45.5” Aldila® RIP’d™ NV shaft and a premium Golf Pride® New Decade Multi Compound grip. Already in the bags of Phil Mickelson, Ernie Els, Alvaro Quiros and other tour professionals around the world, the RAZR Fit Driver will be available for all golfers for the new product introduction retail price of $399 (US).

RAZR Fit Fairway Woods

Like the RAZR Fit Driver, the RAZR Fit Fairway Woods feature three address positionsóOpen, Square and Closed. They will be available in a 3-Wood (15°) and a 5-Wood (18°), and allow players to make adjustments based on their preferred look at address and to minimize tendencies to hook or slice the ball. Callaway’s staff of Tour players helped inspire the club design, which features a traditional shape in a compact head size, as well as a shallow face with a low leading edge.

Callaway’s engineers have also applied Variable Face™ Thickness Technology® to precisely shape the face thickness in each fairway wood, increasing the sweet spot and promoting consistent trajectories and hotter ball speeds. RAZR Fit Fairway Woods will be available at the new product introduction retail price of $249 (US).

“The RAZR Fit Fairway Wood was designed for players seeking the ultimate in performance and optimization,” said Hocknell. “Whether a golfer is advancing the ball in a fairway or getting out of trouble, RAZR Fit Fairway Woods will inspire the confidence to hit great shots.”

For specific information regarding the RAZR Fit line of woods, please visit http://www.callawaygolf.com/RAZRFit. High-resolution images of all products are available for immediate download via the Media Center portion of Callaway Golf’s website: www.callawaygolf.com/MediaCenter

About Callaway Golf

Through an unwavering commitment to innovation, Callaway Golf Company (NYSE:ELY) creates products and services designed to make every golfer a better golfer. Callaway Golf Company manufactures and sells golf clubs and golf balls, and sells golf apparel, footwear and accessories, under the Callaway Golf®, Odyssey®, Top-Flite®, and Ben Hogan® brands in more than 110 countries worldwide. For more information please visit www.callawaygolf.com or shop.callawaygolf.com.