Calvert Named Top Small Business by Corporate Volunteer Council of Montgomery County.

BETHESDA, Md. -- Calvert, one of the largest financial institutions in the Washington D.C. area, was selected as the winner of the small business category in the Corporate Volunteer Council of Montgomery County's annual awards. The Council cited Calvert's "30 Acts of Caring" program, an initiative commemorating the firm's 30th anniversary with a company-sponsored volunteering activity for each year that Calvert has been in business. In addition, the Council lauded Calvert's ongoing programs such as paid time off for volunteering and its employee directed group that directs Calvert's volunteer activities called Calvert Community Partners.

"At Calvert, we have always believed that success should be measured in two ways: both by looking at bottom-line performance and by recognizing positive impact on our communities," said Calvert's President and CEO, Barbara J. Krumsiek. "I am very proud that our employees chose to celebrate our 30 year anniversary by giving back to their communities -- and that the Corporate Volunteer Council has recognized their efforts with this award."

Through Calvert's 30 Acts of Caring, the firm is sponsoring 30 separate activities, scheduled throughout the year to give employees the flexibility to participate. Some occur during the workday, while others take place during the evenings and on weekends. Some involve volunteering; others, such as the city book drive and clothing drive, require only a donation of goods to participate. The charities are a diverse group of organizations, with everything from elder care facilities to schools and shelters for children and families.

The 30 Acts of Caring program was created and implemented by Calvert Community Partners as a way to celebrate Calvert's long-term commitment to community involvement and voluntary action. It celebrates a corporate culture in which volunteering is encouraged. Through Calvert Community Partners, a community outreach program, Calvert employees may take up to 12 days of paid leave each year to participate in community service activities. These include tutoring, organizing charity fundraising events, and sponsoring and participating in the Greater DC Cares Servathons. Calvert also provides strong financial support for the Make-A-Wish Foundation and other community-based charities.

The Corporate Volunteer Council of Montgomery County is committed to increasing corporate volunteer participation and opportunities (http://www.cvc-mc.org/opportunities.cfm) among Montgomery County businesses. The organization educates businesses on how to partner with and support non-profit organizations by helping create successful volunteer/charitable programs that positively impact the business, its employees and the local community.

About Calvert

Calvert is best known for its family of socially responsible mutual funds, celebrating 30 years of helping investors meet their financial goals. With over $12 billion in assets under management, Calvert offers thirty-one portfolios that allow individual and institutional investors to pursue a broad range of investment objectives within a single fund family. Calvert launched the Calvert Social Index([R]), 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.

Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD, a subsidiary of Calvert Group, Ltd. (10/06, 6370)