1
CALVERT SOCIAL INVESTMENT FUND
EQUITY PORTFOLIO
Prospectus dated January 31, 1998, revised March 31, 1998
Date of Supplement: September 22, 1998
The following is added to the cover page of the Prospectus:
Effective September 22, 1998, Loomis, Sayles & Company, L.P. is no longer the
investment subadvisor for the Calvert Social Investment Fund Equity Portfolio
("Equity Portfolio"). The Fund's Board of Trustees and investment advisor have
retained Atlanta Capital Management Company, L.L.C. ("Atlanta Capital"), also
effective September 21, 1998, to manage the Equity Portfolio. Atlanta
Capital's principal business office is located at Two Midtown Plaza, Suite
1600, 1360 Peachtree Street, Atlanta, Georgia 30309. All references in the
Prospectus to "Loomis, Sayles" or "Subadvisor" of the Equity Portfolio will
refer to Atlanta Capital as of September 21, 1998.
Management of the Equity Portfolio will be undertaken by a team of investment
professionals. The senior investment professional is Daniel W. Boone, III,
CFA. Mr. Boone's primary responsibilities are in equity portfolio management
and research. Before joining Atlanta Capital in 1976, he was with the
international firm of Lazard Freres in New York. Prior to that, he was an
analyst with the Wellington Management Company. Mr. Boone has earned an MBA
from the Wharton School of The University of Pennsylvania, where he graduated
with distinction, and a B.A. from Davidson College.
Thus, shareholders of the Equity Portfolio will receive a proxy statement to
vote on approval of a new investment subadvisory agreement with Atlanta
Capital which provides for Atlanta Capital to receive a subadvisory fee of
0.30% of Portfolio assets, to be paid by the investment advisor. Shareholders
may also be asked to consider other matters concerning the Portfolio.
