Calvert Social Index Pending Actions.Business Editors BETHESDA, Md.--(BUSINESS WIRE)--March 22, 2002 The Calvert Social Research Department has submitted the following recommendations regarding actions within the Calvert Social Index The Calvert Social Index is a stock market index created by the Calvert Group as a benchmark of large companies that are considered socially responsible or ethical. It currently consists of 468 companies, weighted by market capitalization, selected from approximately 1,000 of the (TM). If approved, the following recommendations will be effective when the Calvert Social Index Committee convenes its quarterly meeting in June, 2002. Additions: Hawaii Electric Industries, Inc. (NYSE NYSE See: New York Stock Exchange :HE), was recommended for inclusion in the Calvert Social Index. If approved, this addition will take effect in June. Mirant Corporation (NYSE: MIR) was recommenced for inclusion in the Calvert Social Index. If approved, this addition will take effect in June. Deletions: None at this time How is the Calvert Social Index Constructed? The Calvert Social Index is created by taking the 1,000 largest companies in the U.S., representing stocks listed on the NYSE and NASDAQ-AMEX (not including closed-end mutual funds, ADRs, REITS REITS Real Estate Investors of the Tri-States (Harrison, TN) , and non-common shares) and ranks them in descending order based on their three month average market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . Calvert Group's Social Research Department analyzes each company in the base of 1,000 companies. A social audit is conducted in the following areas: environment, workplace issues, product safety, community relations 1. The relationship between military and civilian communities. 2. Those public affairs programs that address issues of interest to the general public, business, academia, veterans, Service organizations, military-related associations, and other non-news media entities. , military weapons contracting, international operations and human rights, and respecting the rights of indigenous peoples. The stocks that meet Calvert Group's social criteria make up the Calvert Social Index. For more complete information about any Calvert Group mutual fund, call 800.368.2748 for a free prospectus or go to our Web site at www.calvert.com. Read it carefully before you invest. Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , a subsidiary of Calvert Group, Ltd. #3178 rev. (02/02) |
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