Calvert Social Index Quarterly Adjustments

Business Wire, March 24, 2008

Mohawk Industries, Inc. (NYSE:MHK), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for workplace safety and environment. Measurable improvement in performance and disclosure in these areas now places Mohawk Industries favorably within its industry peers.

MeadWestvaco Corporation (NYSE:MWV), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for environment. The company's improvement in compliance performance, its leadership in addressing climate change and product innovation places it favorably amongst industry peers.

The Clorox Company (NYSE:CLX), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for environment. Measurable improvement in toxic releases and overall disclosure, coupled with the company's environmental management system and policies now places Clorox Co. favorably within its industry peers.

USG Corporation (NYSE:USG), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for product safety and impact. The company's resolution of previous product safety issues, coupled with the adoption of strong environmental programs and green products, now places the company favorably within its industry peers.

DELETIONS:

None

CORPORATE ACTIONS:

A.H. Belo Corporation Series A was added to the Calvert Social Index, due to a spin-off by Belo Corporation.

Andrew Corporation was deleted from the Calvert Social Index, due to its acquisition by CommScope, Inc.

Genlyte Group, Inc was deleted from the Calvert Social Index, due to its acquisition by Royal Philips Electronics.

MGI Pharma, Inc. was deleted from the Calvert Social Index, due to its acquisition by Eisai Co., Ltd.

Sierra Health Services, Inc. was deleted from the Calvert Social Index, due to its acquisition by UnitedHealth Group, Inc.

What is the Calvert Social Index?

Calvert, a leader in socially responsible investing, has created the Calvert Social Index, a broad-based, rigorously constructed benchmark for measuring the performance of US-based socially responsible companies.

How is the Calvert Social Index constructed?

Calvert starts by taking the 1,000 largest companies in the US, represented by stocks listed on the NYSE, NASDAQ, and AMEX (not including closed-end mutual funds, ADRs, REITS and non-common shares). Calvert's Social Research Department then analyzes each company. A social audit is conducted in the following areas: governance and ethics; environment; workplace; product safety and impact; community relations; international operations and human rights; and indigenous peoples' rights. The stocks that meet Calvert's social criteria make up the Calvert Social Index.

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.