Callaway Golf Introduces New Diablo Octane Drivers & Fairway Woods

New Drivers Mark Debut of Forged Composite, the Lightest, Strongest, Most Precise Material Callaway Has Ever Used

CARLSBAD, Calif., October 14, 2010 – Callaway Golf Company (NYSE: ELY) today announced the November 12 retail availability of the new Diablo Octane and Diablo Octane Tour Drivers, as well as the new Diablo Octane Fairway Woods. Twenty years after revolutionizing the driver market with the original Big Bertha Driver, Callaway’s Diablo Octane Drivers introduce another innovative breakthrough in the form of a new material called Forged CompositeÄ -the lightest, strongest, most precise material the Company has ever used.

The performance characteristics of Forged Composite, a material developed in conjunction with Research and Development partner Automobili Lamborghini, has allowed Callaway engineers to develop an advanced clubhead with a greater transfer of power at impact and more accurate trajectories versus its all-titanium counterparts.

“Applying Forged Composite in tandem with a proprietary isothermal forging process has generated a measurable performance advantage over the metal alloys generally used to manufacture golf clubs,” said Dr. Alan Hocknell, Sr. Vice President, Research and Development, Callaway Golf. “The Diablo Octane Drivers are configured to deliver unmatched power and precision through superior design, construction and advanced materials.”

Employing Forged Composite in the crown of the Diablo Octane Driver has allowed Callaway engineers to precisely set the clubhead’s Center of Gravity (CG) and Moment of Inertia (MOI) in order to promote accurate trajectories. This lighter, more efficient clubhead is then paired with a longer shaft to increase head speed and power at impact for longer distances. Additionally, Diablo Octane Drivers include Callaway’s proprietary Hyperbolic Face Technology, which utilizes a chemical milling process to provide a larger sweet spot and improved impact efficiency. Overall, Callaway’s Diablo Octane powers drives beyond those of its all-titanium predecessor by an average distance of eight yards.

Diablo Octane Tour models feature a slightly smaller head size than standard models, a full hosel, and the more open look at address preferred by skilled players. Diablo Octane Drivers come with a Project X™ Graphite Shaft that is 46 inches in the standard model and 45.5 inches in the Tour model. The new product introduction retail price for the Diablo Octane and Diablo Octane Tour Drivers is $299.

Building on Callaway’s heritage of innovation, the Diablo Octane and Diablo Octane Tour Fairway Woods are engineered to maximize power. The standard models feature a larger footprint and are designed with a deep CG for better playability and higher trajectories. The Tour models are designed with a smaller profile and a traditional hosel, and deliver increased workability with low, penetrating trajectories that are preferred by more accomplished players. Diablo Octane Fairway Woods feature aggressive Variable Face Technology that increases the size of each club’s sweet spot and generates high ball speeds for better distance. Diablo Octane Fairway Woods will be available at the new product introduction retail price of $199.

About Forged Composite

Forged Composite is the lightest, strongest, most precise material Callaway has ever employed. Encompassing more than 500,000 intertwined turbostratic fibers per square inch, this revolutionary material features an incredibly high threshold for withstanding the extreme forces encountered by Lamborghini and Callaway products. Forged Composite is one-third the density of titanium, yet features a greater load carrying capacity per unit mass in bending. The implementation of a new, proprietary isothermal forging process enables Callaway and Lamborghini engineers to incorporate Forged Composite into their designs with a level of precision that was previously unachievable.

About The Callaway Golf-Automobili Lamborghini Partnership

On September 30, 2010, Callaway Golf and Automobili Lamborghini announced an agreement to connect the resources of their world-renowned Research and Development teams. This unique alliance establishes an ongoing partnership to develop innovative technologies and materials such as Forged Composite, the first collaborative element of this union.

The origins of this recently formalized relationship date back several years. Through the constant pursuit of lighter and stronger materials, the Lamborghini and Callaway Research and Development teams cultivated similar areas of expertise. A major point of convergence surrounded the development of advanced composite structures. These highly developed materials comprised of microscopic carbon fibers feature remarkable strength and performance characteristics in comparison to the metal alloys that are generally used throughout the automotive and golf industries.