Exhibit 99.1

                                                          CONTACTS: Brad Holiday
                                                                 Steve McCracken
                                                                    760-931-1771


                         CALLAWAY GOLF COMPANY APPOINTS
                              NEW CEO AND DIRECTOR

CARLSBAD, CA - August 1, 2005 - Callaway Golf Company (NYSE: ELY) today
announced that the Board of Directors has appointed George Fellows as President
and CEO of the Company, and has also elected Mr. Fellows to serve as a Director.
All appointments are effective August 1, 2005. William C. Baker, who has served
as interim CEO and Chairman since August of 2004, will remain as a Director, but
has stepped down from both offices effective on the same day. Ronald S. Beard,
the Company's lead independent director, was elected to succeed Mr. Baker as
Chairman.

"The Board has worked very hard to coordinate its search for a new CEO with its
ongoing review of strategic opportunities, and that hard work has paid off by
bringing to us a terrific leader in George Fellows," said Mr. Beard. "Mr.
Fellows is a skilled operator who has a track record of building shareholder
value in numerous consumer brand businesses. In particular, his expertise in
marketing and brand building is expected to help us continue to build strength
in all of the Company's four major golf brands - Callaway Golf, Odyssey,
Top-Flite and Ben Hogan. Mr. Fellows has shown the ability to motivate
employees, understand customers and consumers, and build strong supply chain
relationships - all of which have contributed to a well deserved reputation as
someone who can build shareholder value inside a company. We feel that he is the
ideal candidate to work with the Board, the existing management team and our
employees to accomplish our goals going forward."

"The Board is also very grateful to Bill Baker for stepping forward last year to
assist us during this period of transition," Mr. Beard continued. "Bill's
efforts and service have given us the time to conduct a full and complete
process, which resulted in our outstanding new CEO."

Mr. Fellows has been engaged in his own consulting business in New York since
2000, serving as a senior advisor to Investcorp and JPMorgan Partners. Prior to
that time he served as President and CEO of Revlon, Inc. He serves on the board
of directors of VF Corporation.

"I have gotten to know and understand Callaway Golf and its great brands through
the selection process, and I am happy to be joining the team as we build value
in the business going forward," said Mr. Fellows. "I am very excited about the
Company and its prospects. Its efforts this year, including its great new
products, have created a positive momentum in the marketplace behind the Company
and its brands that we can build upon. I see a very bright future for Callaway
Golf Company, and I appreciate the opportunity to play an important part in that
future."



"I join the Board in welcoming George Fellows to our team, and express my thanks
for the opportunity to have served an expanded role at the Company these last
twelve months," said Mr. Baker. "George takes the helm at a time when our recent
results have shown a positive change from where we were a year ago. We all look
forward to working with George to continue this process."



Statements in this press release that relate to future plans, events or
prospects, including statements relating to future competitive position, are
forward-looking statements as defined under the Private Securities Litigation
Reform Act of 1995. These forward-looking statements involve a number of risks
and uncertainties and actual results may differ materially from those
anticipated in these forward-looking statements. The factors that may cause such
differences include, but are not limited to, the ability of the Company to
identify and execute viable strategic alternatives; delays, difficulties or
unanticipated costs in integrating recently acquired Top-Flite Golf assets,
brands and businesses; overall economic conditions and other business factors.
For additional information concerning these and other risks and uncertainties,
see Part I, Item 2 of the Company's Quarterly Report on Form 10-Q for the
quarter ended March 31, 2005, as well as other risks and uncertainties detailed
from time to time in the Company's reports on Forms 10-K, 10-Q and 8-K
subsequently filed from time to time with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. The Company
undertakes no obligation to republish revised forward-looking statements to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.

Through an unwavering commitment to innovation, Callaway Golf 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
accessories, under the Callaway Golf(R), Top-Flite(R), Odyssey(R) and Ben
Hogan(R) brands. For more information visit www.callawaygolf.com.