FOR IMMEDIATE RELEASE

Press Contact: Carrie Hutchison, 301.280.6003, carrie.hutchison@calvertfoundation.org

Calvert Foundation Expands Board Insight by Adding Notable Affordable Housing Industry Expert

Bethesda, MD - March 9, 2011 – Lisa L. Hall, President and CEO of Calvert Foundation is proud to announce the election of Frederick “Bart” Harvey to its Board of Directors.

For over 30 years, Mr. Harvey has been an innovator in providing decent, affordable housing and a path out of poverty for low-income families. As the former Chair and CEO of Enterprise Community Partners, Mr. Harvey is credited with growing Enterprise’s impact from investing $200 million supporting 5,000 affordable homes annually, to more than $1 billion supporting more than 20,000 homes annually.

“We are so pleased that Bart joined our Board, whose members bring expertise and experience from a multitude of disciplines,” said Ms. Hall. “Bart’s unwavering commitment to providing homes for America’s working families matches Calvert Foundation’s mission, and equips our Board with expertise in an area we have 17 percent of our investment portfolio dedicated to affordable – and sustainable – housing for families that need it most.”

Along with Enterprise co-founder James Rouse, Mr. Harvey helped Congress create the Low-Income Housing Tax Credit, which provides financing for the majority of affordable rental homes in the country. He also led Enterprise’s launch of the Green Communities initiative – an unprecedented commitment to sustainable development’s benefits to low-income communities nationwide.

"Bart is a great leader in the affordable housing industry," said Vincent Quayle, President and Executive Director of St. Ambrose Housing in Baltimore, MD, which has been an investee of both Enterprise and Calvert Foundation for many years. "His addition to Calvert Foundation's Board further builds strong support for safe and affordable housing."

“We are so excited to welcome Bart, and know he will help Calvert Foundation advance our mission to drive dollars to communities where they are needed most, making it attractive for investors to participate in community investment,” said Ms. Hall.

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About Calvert Foundation: Calvert Foundation is a nonprofit organization that provides the opportunity for investors to achieve financial returns while empowering people living in low-income communities in the United States and around the world. Calvert Foundation believes in creating a win-win, improving both the lives of those who receive investment dollars and the lives of our investors. A pioneer in the social impact investment field, Calvert Foundation investors have helped to create over 528,000 jobs for low-income individuals, built or rehabilitated 19,000 affordable homes, and financed close to 27,000 nonprofit facilities and social enterprises through their investment in Calvert Foundation’s Community Investment Note. Learn more at www.calvertfoundation.org.

EDITOR’S NOTE: Calvert Foundation is a separate entity from Calvert Investments, Inc. and its products should not be confused with any Calvert Investments-sponsored investment product. In order to avoid confusion and be consistent when referring to Calvert Foundation in print news stories, always use “Calvert Foundation” as opposed to “Calvert” in headlines and subheads.