Community Investing Coming of Age! News from Calvert Foundat

Dear Friends,

Community investment is generating considerable momentum, with strong
investor demand. Calvert Community Investors now number 1,000 -- initial
market survey work shows these socially responsible investors to be mature,
internet savvy, and com'sif-l'mitted to investing in their own communities.

1,000th Community Investor in Calvert Foundation and $10,000,000 Topped

On September 3rd, 1999, Calvert Social Investment Foundation welcomed its
1,000th investor into Calvert Community Investments (the investment program
channeling individual and institutional capital to a portfolio of affordable
housing, microcredit, small business and community development non-profits
across the country and around the world).

As the one-thousandth Calvert Community Investors, Kathryn and Michael (from
the Boston area) invested at the program's historic average of a 3yr term
and 3% return (chosen from the option of 1, 3, and 5 yr terms - and 0-4%
returns). They invested $1,000, joining approximately 450 other investors at
that level (CCI investors range from $1,000 to $1,000,000). By taking
advantage of Calvert Foundation's impact targeting feature, Kathryn and
Michael will have their funds earmarked to non-profits which create jobs,
homes, and opportunity in the New England area. The Community Investment
Profiles Database at: http://www.calvertgroup.com/foundation gives examples
of targeted impact.

Another milestone was passed last month when Calvert Foundation's community
investor pool topped $10 million. This, along with reaching 1,000 investors,
illustrates the increased interest in community investment at the individual
investor-level nationally.

New Survey points to Mature and Internet Savvy Calvert Community Investors

In coordination with reaching its 1,000th community investor on Sept. 3rd,
Calvert Social Investment Foundation is currently processing data from the
1st Annual Calvert Community Investor Survey just gathered from its investor
base.

Preliminary tabulations indicate a roughly even split between men and women,
and 60% of all investors over the age of 50. Three quarters of respondents
indicate that there are no children living in the household. Email and
internet usage are very high. Household income is modest, but with financial
assets substantially higher, there is some indication of the presence of
inherited wealth. Community investors in Calvert Foundation's program are
most interested in affordable housing/homelessness, microcredit, and
environmental issues that are positively supported by community development
financing.

The survey data will be strategically utilized by Calvert Foundation to
better serve its investor base, develop new programs and products, and to
more effectively grow community investment at the retail level nationally.

Thanks for all your support,

Shari Berenbach,
Executive Director
Calvert Social Investment Foundation

For more information contact:

Timothy Freundlich
mailto://foundation@calvertgroup.com
http://www.calvertgroup.com/foundation
4550 Montgomery Avenue, Bethesda, MD 20814
(800) 248-0337 fax - (301) 654-2960


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