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Calvert Social Index Actions

Calvert’s Sustainability Research Department has submitted the following recommendation regarding action within the Calvert Social Index®. If approved, the following recommendation will be effective when the Calvert Social Index Committee convenes its quarterly meeting in March 2013.

ADDITIONS :

Walt Disney Company (NYSE: DIS), a company in the Calvert Social Index Universe, has recently been reviewed and now meets the Index's standards for workplace safety. The company has demonstrated improved performance and management of employee health and safety risks. If approved, the addition will take place in March 2013. To learn more about company, go to www.Calvert.com.

McDonald’s Corp (NYSE: MCD), a company in the Calvert Social Index Universe, has recently been reviewed and now meets the Index's standards for workplace labor relations. The company has implemented improved policies and programs related to human rights and labor relations. If approved, the addition will take place in March 2013. To learn more about the company, go to www.calvert.com.

DELETIONS :

Monster Beverage Corp ( NASDAQ: MNST), a company in the Calvert Social Index, has recently been reviewed and no longer meets the Index's standards for product marketing. If approved, deletion will take place in March 2013.

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

How is the Calvert Social Index constructed?Calvert starts by taking the 1,000 largest companies in the US, based on total market capitalization, included in the Dow Jones Total Market Index (the “Dow Jones TMI”). The Dow Jones TMI represents the top 95% of U.S. companies based on float-adjusted market capitalization, excluding the very smallest and least-liquid stocks. Calvert's Sustainability Research Department then analyzes each company. A sustainability 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 the Index’s sustainable and responsible criteria make up the Calvert Social Index.

Calvert Investment Management, Inc., 4550 Montgomery Avenue, Suite 1000N, Bethesda, MD 20814 (2/13, 12905)

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