Company Press Release

BETHESDA, Md.--(BUSINESS WIRE)--Today, Calvert announced that it has hired Natalie Trunow as Senior Vice President and head of Equities.

In her new role, Ms. Trunow will lead, manage, and proactively evaluate and monitor the investment performance, risk/reward, and attribution analysis of Calvert’s equities, balanced, and asset allocation products. She will also lead the firm in equities new product development and implementation.

Ms. Trunow has more than 20 years of experience in global financial markets. Most recently she was Portfolio Manager in the global markets group at General Motors Asset Management. There, her accomplishments included building alpha-generating, well-diversified, style-balanced investment strategies and funds; performing comprehensive comparative analyses of global traditional and alternative equity investment strategies; and developing portfolio construction methodologies for institutional money managers. Earlier in her career, Ms. Trunow was a corporate litigation consultant at the New York law firm of Owen & Davis. She has also consulted with PriceWaterhouse.

Expansion of Calvert’s Equities Department

On July 1, 2008, Daniel Bénéat joined Calvert as an equities Portfolio Manager. He and Paul Hilton, Portfolio Manager and Director of advanced equities research, co-manage the Calvert Global Sustainability Strategy, a new privately managed account. Before joining Calvert, Mr. Bénéat was President and Portfolio Manager of Worldeye Capital Inc., a globally diversified long/short equity strategy firm. Before that, he was the Portfolio Manager for the Dreyfus Premier Emerging Markets Fund and a Vice President and Portfolio Manager of UBS Asset Management Inc. managing U.S. equity and balanced portfolios for foreign institutional clients.

About Calvert

Calvert is an investment management firm with over $15 billion in assets under management. Calvert is a leader in sustainable and responsible investing and manages over $6 billion in sustainable and responsible asset management strategies for institutional and individual investors. The firm’s SRI funds have grown to 21, with the most recent additions being the Calvert Global Alternative Energy Fund (CGAEX) and the Calvert International Opportunities Fund (CIOAX). Over the years, the firm has built a core line-up of mutual funds ranging from equity to fixed income, large-cap to small-cap, and domestic to international. For more information about Calvert or this report, please visit www.calvert.com or call 301-951-4800.

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 FINRA, subsidiary of Calvert Group, Ltd. (8217, 08/25/08)