Information about the District of Columbia
The Government of the District of Columbia was created in 1791 by an act of the United States Congress ("Congress") and presidential proclamation and has served as the capital of the United States of America since 1800.  Under Article I, Section 8, of the United States Constitution, Congress has exclusive legislative authority over DC as the Nation's Capital.  Since January 2, 1975, DC has been governed in accordance with DC Home Rule Act, Public Law 93-198, an act of Congress signed by the President on December 24, 1973, as amended (the "Home Rule Act").  Under the Home Rule Act, DC is governed by an elected Mayor and an elected Council.  With limited exceptions, including the payment of debt service, the District may not obligate or expend funds absent annual Congressional appropriation.  DC is a unique governmental entity, combining state, county, and municipal characteristics. 

The Government of the District of Columbia's Role
The DC Chief Financial Officer ("CFO") is responsible for the implementation and administration of the DC "College Savings Act of 2000" as stated in DC Law 13-212, approved March 31, 2001, and as amended, by the College Savings Program Temporary Act of 2002 D.C. Law 14-186, approved October 1, 2002.

Pursuant to DC Regulations, 49 DCR 9859, November 1, 2002, the CFO entered into a Declaration of Trust, establishing the DC College Savings Program Trust, an instrumentality of DC.  In addition, pursuant thereto, the CFO or the Treasurer, as designated by the CFO, shall serve as the fiduciary and Trustee of the District of Columbia College Savings Program Trust.

The CFO or the Treasurer, as designee of the CFO, is responsible for selecting a qualified financial institution as the program manager to administer the Program.  In addition, the CFO or the Treasurer, as designee of the CFO, is responsible for approving the selection of the underlying investments in the Trust.  The CFO or the Treasurer of DC, as designee of the CFO, is responsible for the administration of the Program.  The CFO or the Treasurer of DC, as designee of the CFO, shall receive advice respecting the Program from the DC College Savings Program Advisory Board, which shall meet periodically and at least once annually.

Information about Calvert
Through its extensive operations and customer service resources, Calvert has established an administrative structure for offering, administering and marketing the Program.  Calvert's sophisticated systems enable the provision of prompt, efficient customer service and accuracy in maintaining accounts and processing contributions and distributions.

Calvert's Role
Calvert Asset Management Co., Inc. is the Program Manager for the Program.  As Program Manager, it is responsible for the Program's administration and investment operations, although decisions regarding the purchases and sales of investments in the Underlying Investments are made by the Underlying Investments' advisors, which are identified above.  Calvert is subject to supervision by the Trustee, an official of DC.  Calvert Distributors, Inc. serves as the distributor of interests in the Program and is registered as a broker-dealer under the Securities Exchange Act of 1934 and is a member of the National Association of Securities Dealers, Inc.

Calvert is part of the Calvert Group Ltd., which, in turn is an indirect subsidiary of Acacia Life.  Calvert sponsors a family of registered mutual funds with over $8 billion in assets under management as of June 30, 2002.  Calvert's address is 4550 Montgomery Avenue, Bethesda, MD 20814.

For more information on the DC College Savings Plan, please contact your financial advisor or call 800.987.4859 (800.368.2745 for non-District residents).  An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing.  The District of Columbia College Savings Trust Program Disclosure Booklet contains this and other information.  Read it carefully before you invest or send money. An investor should also consider, before investing, whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's 529 college savings plan.