Calvert Cash Reserves
Prospectus dated January 31, 2000
Date of supplement November 27, 2000
The section entitled "How to Sell Shares" on page 6 of the prospectus is amended
to state the following:
You may redeem all or a portion of your shares on any day the Fund is open
for business, provided the amount requested is not on hold. Your shares will be
redeemed at the next NAV calculated after your redemption request is received.
You will receive dividends through the date the request is received and
processed. A telephone order for a redemption must be received by the Calvert
Institutional Marketing Group by 3:00 p.m. Eastern time in order for the
proceeds to be sent to you on the same business day. If making immediate
payment could adversely affect the Fund, it may take up to seven (7) days to
make payment. The Fund has the right to redeem shares in assets other than cash
for redemption amounts exceeding, in any 90-day period, $250,000 or 1% of the
net asset value of the Fund, whichever is less. When the NYSE is closed (or
when trading is restricted) for any reason other than its customary weekend or
holiday closings, or under any emergency circumstances as determined by the
Securities and Exchange Commission, redemptions may be suspended or payment
dates postponed. Please note that there are some federal holidays, however,
such as Columbus Day and Veteran's Day, when the NYSE is open and the Fund is
open but redemptions cannot be mailed or wired because the post office and banks
are closed. Follow these suggestions to ensure timely processing of your
redemption request:
