3.14.2002 ET

(CSRwire) The Calvert Social Index Committee ("Index Committee") met today to review and approve changes to the Calvert Social Index. The Index Committee meets every quarter to review the component companies of the Index for corporate actions (i.e., spin-offs, mergers and acquisitions, bankruptcy) and for recommendations made by the
Calvert Social Research Department that may affect its eligibility in the Index. A complete listing of the component companies of the Calvert Social Index, including social profiles of many of them, can be found on http://www.calvert.com/. The Index Committee has therefore reviewed and
approved the following additions and deletions into the Calvert Social Index, effective March 15, 2002.

ADDITIONS:

ACE Ltd. has been added to the Calvert Social index, as it now qualifies for inclusion under Calvert's social criteria.

Kimberly-Clark Corp. has been added to the Calvert Social Index, as it now qualifies for inclusion under Calvert's social criteria.

Weyerhaeuser Co. has been added to the Calvert Social Index, as it now qualifies for inclusion under Calvert's social criteria.

XL Capital Ltd. has been added to the Calvert Social Index, as it now qualifies for inclusion under Calvert's social criteria.

DELETIONS:

Qwest Communications International has been deleted from the Calvert Social Index, as it now does not meet minimum standards of Calvert's social criteria.

The Calvert Social Index is created by taking the 1,000 largest companies in the U.S., representing stocks listed on the NYSE and Nasdaq-AMEX (not including closed-end mutual funds, ADRs, REITS, and non-common shares); and ranks them in descending order based on their three-month average market capitalization.

Calvert's Social Research Department analyzes each company in the base of 1,000 companies. A social audit is conducted in the following areas: environment, workplace issues, product safety, community relations, military weapons contracting, international operations and human rights, and
respecting the rights of indigenous peoples. The stocks that meet Calvert's social criteria make up the Calvert Social Index.

Located in the Washington, DC-area, Calvert is the largest family of socially responsible mutual funds in the United States. With approximately $8.0 billion in assets under management and over 220,000 investors, Calvert's full line of equity, income and money market products allow
shareholders to integrate their investments with quality of life issues such as the environment, workplace practices, product safety and impact, international operations and human rights, weapons contracting and indigenous people's rights.

For more complete information about any Calvert mutual fund, call 800-368-2748 for a free prospectus or go to our Web site at http://www.calvert.com/. Read it carefully before you invest.

Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD, a subsidiary of Calvert Group, Ltd. 03/02, #3588.

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