BETHESDA, MD-Calvert (www.calvert.com), the nation's largest family of socially responsible mutual funds, announced today that Bennett Freeman, formerly head of the Global Corporate Responsibility practice at Burson-Marsteller, and Deputy Assistant Secretary of State for Democracy, Human Rights and Labor, joined the firm as Senior Vice President for Social Research and Policy.

In his new role, reporting to the President & CEO, Mr. Freeman will manage the social analysis functions and maintain strong relationships with Calvert's portfolio managers. He will lead the development of the firm's positions on social issues and actively articulate those positions in a variety of public forums. In addition, he will identify emerging trends and opportunities in social research and shareholder advocacy. Formerly, the social analysis team was led by Dr. Julie Gorte, who was promoted to Vice President and Chief Social Investment Strategist in August of last year. Dr. Gorte is currently charged with providing analysis and commentary on emerging issues in social investing and the intersection of social and financial research.

"Bennett's experience-with corporations, governments and NGOs-will be an unparalleled asset to our organization, as we move forward," said Barbara J. Krumsiek, Calvert's President & CEO. "His experience will enhance our ability to understand social investing issues from a variety of perspectives, while his deep knowledge of social issues will reinforce our leadership position," she added.

"I am thrilled to soon be leading the well respected team of social and corporate responsibility analysts at Calvert," said Mr. Freeman. "The timing could not be more opportune-more now than ever before, the issues most important to the SRI community, are important to mainstream investors," he added.

Mr. Freeman has more than 20 years of corporate, diplomatic and consulting experience touching on many of the issues at the heart of Calvert's social agenda. For the last three years, he has led the Global Corporate Responsibility practice for Burson-Marsteller, the largest strategic communications and public affairs firm in the world. At Burson, he advised multinational corporations across different industries on policy development, stakeholder engagement and communications strategies related to human rights, labor practices and sustainable development. Previously, as the Principal of Sustainable Development Strategies in Washington, he co-authored an independent human rights impact assessment for BP's multi-billion dollar Tangguh project in West Papua, Indonesia, the first such assessment undertaken in advance of a major energy project in the world.

Bennett served as a political appointee in three positions in the State Department during the Clinton Administration. As Deputy Assistant Secretary of State for Democracy, Human Rights and Labor, he managed the Department's bilateral human rights diplomacy around the world. In that capacity, he led the development of the Voluntary Principles on Security and Human Rights, the first human rights standard forged by governments, companies and NGOs for the oil, gas and mining sectors. He previously served as Senior Advisor to Under Secretary of State for Economic and Business Affairs Stuart Eizenstat, for whom he managed the Department's diplomacy and historical research related to Holocaust-era assets. He also served as Deputy Assistant Secretary for Public Affairs and chief speechwriter for Secretary of State Warren Christopher. Before joining the State Department, he was Manager-Corporate Affairs for GE after beginning his career as a speechwriter and presidential campaign aide to former Vice President Walter Mondale.

A frequent speaker, writer and media commentator on corporate responsibility and human rights, Bennett serves on the Board of Directors of Oxfam America and the Steering Committee of Amnesty International USA's Business and Human Rights program. He received an MA in Modern History from the University of Oxford, where he studied as a Churchill Scholar at Balliol College, and an AB in History from the University of California at Berkeley.

Calvert, based in Bethesda, Maryland, is best known as a leader in the field of social investing, celebrating 30 years of helping investors reach their financial goals. Calvert manages thirty-two mutual funds with over $11.9 billion in assets under management. In 2000, Calvert created the Calvert Social IndexÔ, a benchmark for measuring the performance of large, U.S.-based socially responsible companies.

For more information on any Calvert fund, please contact your financial advisor or call 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.

Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD, a subsidiary of Calvert Group, Ltd. (3/06, 5997)

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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