Bethesda, MD - Calvert, the nation's largest family of socially responsible mutual funds, announced that Paul Hilton has joined the firm as Social Marketing Director. Mr. Hilton is responsible for leading marketing initiatives and developing sales support centering on Calvert's key social issues. He will also play a key role in developing products and services that serve Calvert's social investment shareholders.

"We are pleased that Paul joined Calvert given his long-history and significant contributions to the field of social investing," said Reggie Stanley, Senior Vice President and Chief Marketing Officer at Calvert. "His knowledge and expertise in the social investment field is a welcomed addition to our current marketing efforts," he added.

Mr. Hilton was previously with Dreyfus where he worked within the portfolio management team focusing on social research, policy and marketing related to the socially screened funds. Prior to that, Mr. Hilton was a social and environmental research analyst at Smith Barney Asset Management. He also directed research, production and marketing of an SRI research service for institutional investors at the Council on Economic Priorities. Mr. Hilton has an ME, MA and BA from Roberts Wesleyan College, New York University, and Syracuse University, respectively. Mr. Hilton co-chairs the Social Investment Forum's Social Investment Research Analyst Network (SIRAN) and participates on the Steering Committee of the Advocacy and Public Policy committee.

Calvert, based in Bethesda, Maryland, is best known as a leader in the field of social investing. Founded in 1976, today Calvert manages thirty-two funds with over $10.8 billion in assets under management. In 2000, Calvert created the Calvert Social Index(TM), a benchmark for measuring the performance of large, U.S.-based socially responsible companies. For more information on Calvert and its products and services, go to www.calvert.com.

For more information on any Calvert fund, please contact Calvert at 800.368.2748 for a free prospectus. An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The prospectus contains this and other information. Read it carefully before you invest or send money.

May lose value. Not FDIC Insured. No Bank Guarantee. Not NCUA/NCUSIF Insured. No Credit Union Guarantee.

Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD, a subsidiary of Calvert Group, Ltd. (08/05, 5658)

Calvert

Calvert

Calvert, a leader in sustainable and responsible investing, headquartered in suburban Washington, D.C., has, since our founding in 1976, set industry standards for asset management excellence - in both the way we select companies for our portfolios and how we serve our clients' interests. Our investment approach emphasizes rigorous fundamental research that goes beyond traditional measures to uncover companies with long-term value. Through proven investment management, attentive customer service, an innovative family of investment products, and strong marketing capabilities, Calvert serves individual and institutional investors nationwide as well as professional financial advisors

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