Document:

EDGAR  EXHIBIT  4(2)
REFERENCE  N-1A  EXHIBIT(D)

                        INVESTMENT  SUBADVISORY  AGREEMENT

     INVESTMENT  SUBADVISORY AGREEMENT, MADE THIS 26TH DAY OF JUNE, 2000, BY AND
BETWEEN  CALVERT  ASSET  MANAGEMENT  COMPANY,  INC.,  A  DELAWARE  CORPORATION
REGISTERED  AS  AN  INVESTMENT ADVISOR UNDER THE INVESTMENT ADVISERS ACT OF 1940
(THE  "ADVISOR"),  AND  WORLD  ASSET  MANAGEMENT,  L.L.  C.,  A DELAWARE LIMITED
LIABILITY  COMPANY  (THE  "SUBADVISOR").

     WHEREAS,  THE  ADVISOR  IS  THE  INVESTMENT ADVISOR TO CALVERT SOCIAL INDEX
SERIES,  INC.  AN OPEN-END, DIVERSIFIED MANAGEMENT INVESTMENT COMPANY REGISTERED
UNDER  THE  INVESTMENT  COMPANY  ACT  OF  1940, AS AMENDED (THE "1940 ACT"); AND

     WHEREAS,  THE  ADVISOR  DESIRES TO RETAIN THE SUBADVISOR TO FURNISH IT WITH
CERTAIN INVESTMENT ADVISORY SERVICES IN CONNECTION WITH THE ADVISOR'S INVESTMENT
ADVISORY ACTIVITIES ON BEHALF OF THE CALVERT SOCIAL INDEX SERIES, INC. SERIES OF
CALVERT  SOCIAL  INDEX SERIES, INC. AND ANY ADDITIONAL SERIES THEREOF, FOR WHICH
SCHEDULES  ARE ATTACHED HERETO (EACH SUCH SERIES REFERRED TO INDIVIDUALLY AS THE
"FUND");

     NOW,  THEREFORE,  IN  CONSIDERATION  OF  THE  PROMISES  AND  THE  TERMS AND
CONDITIONS  HEREINAFTER  SET  FORTH,  IT  IS  AGREED  AS  FOLLOWS:

     1.     SERVICES  TO  BE  RENDERED  BY  THE  SUBADVISOR  TO  THE  FUND.

     (A)  INVESTMENT PROGRAM. SUBJECT TO THE CONTROL OF THE CALVERT SOCIAL INDEX
SERIES, INC. BOARD OF DIRECTORS ("DIRECTORS") AND THE ADVISOR, THE SUBADVISOR AT
ITS EXPENSE CONTINUOUSLY WILL FURNISH TO THE FUND AN INVESTMENT PROGRAM FOR SUCH
PORTION,  IF  ANY,  OF  FUND ASSETS DESIGNATED BY THE ADVISOR FROM TIME TO TIME.
WITH  RESPECT  TO  SUCH  ASSETS,  THE SUBADVISOR WILL MAKE INVESTMENT DECISIONS,
WHICH  IS  SUBJECT  TO SECTION 1(G) OF THIS AGREEMENT, AND WILL PLACE ALL ORDERS
FOR  THE  PURCHASE AND SALE OF PORTFOLIO SECURITIES. THE SUBADVISOR WILL FOR ALL
PURPOSES  HEREIN  BE DEEMED TO BE AN INDEPENDENT CONTRACTOR AND SHALL, EXCEPT AS
EXPRESSLY  PROVIDED OR AUTHORIZED, HAVE NO AUTHORITY TO ACT FOR OR REPRESENT THE
FUND  OR  THE  ADVISOR IN ANY WAY OR OTHERWISE BE DEEMED AN AGENT OF THE FUND OR
THE  ADVISOR.  IN  THE PERFORMANCE OF ITS DUTIES, THE SUBADVISOR WILL ACT IN THE
BEST  INTERESTS  OF  THE  FUND  AND  WILL  COMPLY  WITH  (I) APPLICABLE LAWS AND
REGULATIONS,  INCLUDING,  BUT  NOT LIMITED TO, THE 1940 ACT, AND SUBCHAPTER M OF
THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, (II) THE TERMS OF THIS AGREEMENT,
(III) THE FUND'S ARTICLES OF INCORPORATION, BYLAWS AND REGISTRATION STATEMENT AS
FROM  TIME  TO  TIME  AMENDED,  (IV)  RELEVANT  UNDERTAKINGS  PROVIDED  TO STATE
SECURITIES  REGULATORS,  (V)  THE  STATED  INVESTMENT  OBJECTIVE,  POLICIES  AND
RESTRICTIONS  OF  THE  FUND,  AND (VI) SUCH OTHER GUIDELINES AS THE DIRECTORS OR
ADVISOR  MAY  ESTABLISH.  THE  ADVISOR  SHALL  BE  RESPONSIBLE FOR PROVIDING THE
SUBADVISOR  WITH  CURRENT  COPIES  OF  THE  MATERIALS  SPECIFIED  IN SUBSECTIONS
(A)(III),  (IV),  (V)  AND  (VI)  OF  THIS  SECTION  1.

     (B)  AVAILABILITY  OF  PERSONNEL.  THE  SUBADVISOR AT ITS EXPENSE WILL MAKE
AVAILABLE  TO  THE  DIRECTORS  AND  ADVISOR  AT  REASONABLE  TIMES ITS PORTFOLIO
MANAGERS  AND  OTHER  APPROPRIATE PERSONNEL, EITHER IN PERSON, OR, AT THE MUTUAL
CONVENIENCE  OF THE ADVISOR AND THE SUBADVISOR, BY TELEPHONE, IN ORDER TO REVIEW
THE  FUND'S  INVESTMENT  POLICIES  AND TO CONSULT WITH THE DIRECTORS AND ADVISOR
REGARDING  THE  FUND'S  INVESTMENT  AFFAIRS, INCLUDING ECONOMIC, STATISTICAL AND
INVESTMENT  MATTERS  RELEVANT  TO  THE  SUBADVISOR'S  DUTIES HEREUNDER, AND WILL
PROVIDE PERIODIC REPORTS TO THE ADVISOR RELATING TO THE INVESTMENT STRATEGIES IT
EMPLOYS.

     (C) EXPENSES, SALARIES AND FACILITIES. THE SUBADVISOR WILL PAY ALL EXPENSES
INCURRED  BY  IT  IN  CONNECTION WITH ITS ACTIVITIES UNDER THIS AGREEMENT (OTHER
THAN  THE  COST  OF  SECURITIES  AND  OTHER INVESTMENTS, INCLUDING ANY BROKERAGE
COMMISSIONS),  INCLUDING  BUT  NOT  LIMITED  TO,  ALL  SALARIES OF PERSONNEL AND
FACILITIES  REQUIRED  FOR  IT  TO  EXECUTE  ITS  DUTIES  UNDER  THIS  AGREEMENT.

     (D)  COMPLIANCE  REPORTS.  THE  SUBADVISOR  AT ITS EXPENSE WILL PROVIDE THE
ADVISOR WITH SUCH COMPLIANCE REPORTS RELATING TO ITS DUTIES UNDER THIS AGREEMENT
AS  MAY  BE  AGREED  UPON  BY  SUCH  PARTIES  FROM  TIME  TO  TIME.

     (E)  VALUATION.  THE  SUBADVISOR  WILL  ASSIST  THE  FUND AND ITS AGENTS IN
DETERMINING  WHETHER  PRICES  OBTAINED FOR VALUATION PURPOSES ACCURATELY REFLECT
MARKET  PRICE  INFORMATION  RELATING  TO  THE  ASSETS  OF THE FUND FOR WHICH THE
SUBADVISOR  HAS RESPONSIBILITY ON A DAILY BASIS (UNLESS OTHERWISE AGREED UPON BY
THE  PARTIES  HERETO)  AND  AT  SUCH OTHER TIMES AS THE ADVISOR SHALL REASONABLY
REQUEST.

     (F)  EXECUTING  PORTFOLIO  TRANSACTIONS.

     I)  BROKERAGE.  IN  SELECTING  BROKERS AND DEALERS TO EXECUTE PURCHASES AND
SALES  OF  INVESTMENTS FOR THE FUND, THE SUBADVISOR WILL USE ITS BEST EFFORTS TO
OBTAIN  THE MOST FAVORABLE PRICE AND EXECUTION AVAILABLE IN ACCORDANCE WITH THIS
PARAGRAPH. THE SUBADVISOR AGREES TO PROVIDE THE ADVISOR AND THE FUND WITH COPIES
OF  ITS  POLICY  WITH RESPECT TO ALLOCATION OF BROKERAGE ON TRADES FOR THE FUND.
SUBJECT  TO  REVIEW BY THE DIRECTORS OF APPROPRIATE POLICIES AND PROCEDURES, THE
SUBADVISOR  MAY  CAUSE  THE  FUND  TO PAY A BROKER A COMMISSION, FOR EFFECTING A
PORTFOLIO  TRANSACTION,  IN  EXCESS  OF THE COMMISSION ANOTHER BROKER WOULD HAVE
CHARGED  FOR  EFFECTING  THE  SAME  TRANSACTION.  IF  THE  FIRST BROKER PROVIDED
BROKERAGE  AND/OR  RESEARCH  SERVICES,  INCLUDING  STATISTICAL  DATA,  TO  THE
SUBADVISOR,  THE  SUBADVISOR SHALL NOT BE DEEMED TO HAVE ACTED UNLAWFULLY, OR TO
HAVE BREACHED ANY DULY CREATED BY THIS AGREEMENT, OR OTHERWISE, SOLELY BY REASON
OF  ACTING  ACCORDING  TO  SUCH  AUTHORIZATION.

     II)  AGGREGATE  TRANSACTIONS.  IN  EXECUTING PORTFOLIO TRANSACTIONS FOR THE
FUND, THE SUBADVISOR MAY, BUT WILL NOT BE OBLIGATED TO, AGGREGATE THE SECURITIES
TO  BE  SOLD OR PURCHASED WITH THOSE OF ITS OTHER CLIENTS WHERE SUCH AGGREGATION
IS  NOT  INCONSISTENT  WITH THE POLICIES OF THE FUND, TO THE EXTENT PERMITTED BY
APPLICABLE LAWS AND REGULATIONS. IF THE SUBADVISOR CHOOSES TO AGGREGATE SALES OR
PURCHASES,  IT  WILL ALLOCATE THE SECURITIES AS WELL AS THE EXPENSES INCURRED IN
THE  TRANSACTION  IN  THE  MANNER  IT  CONSIDERS  TO  BE  THE MOST EQUITABLE AND
CONSISTENT  WITH  ITS  FIDUCIARY  OBLIGATIONS  TO THE FUND AND ITS OTHER CLIENTS
INVOLVED  IN  THE  TRANSACTION.

(III)  DIRECTED  BROKERAGE.  THE  ADVISOR  MAY  DIRECT  THE  SUBADVISOR TO USE A
PARTICULAR  BROKER  OR  DEALER FOR ONE OR MORE TRADES IF, IN THE SOLE OPINION OF
THE  ADVISOR,  IT  IS  IN  THE  BEST  INTEREST  OF  THE  FUND  TO  DO  SO.

(IV)  BROKERAGE ACCOUNTS.  THE ADVISOR AUTHORIZES AND EMPOWERS THE SUBADVISOR TO
DIRECT  THE  FUND'S  CUSTODIAN  TO  OPEN  AND  MAINTAIN  BROKERAGE  ACCOUNTS FOR
SECURITIES  AND  OTHER  PROPERTY,  INCLUDING FINANCIAL AND COMMODITY FUTURES AND
COMMODITIES AND OPTIONS THEREON (ALL SUCH ACCOUNTS HEREINAFTER CALLED "BROKERAGE
ACCOUNTS")  FOR  AND  IN THE NAME OF THE FUND AND TO EXECUTE FOR THE FUND AS ITS
AGENT  AND  ATTORNEY-IN-FACT  STANDARD  CUSTOMER  AGREEMENTS WITH SUCH BROKER OR
BROKERS  AS  THE SUBADVISOR SHALL SELECT AS PROVIDED ABOVE.  THE SUBADVISOR MAY,
USING  SUCH  OF  THE SECURITIES AND OTHER PROPERTY IN THE FUND AS THE SUBADVISOR
DEEMS  NECESSARY  OR  DESIRABLE,  DIRECT THE FUND'S CUSTODIAN TO DEPOSIT FOR THE
FUND ORIGINAL AND MAINTENANCE BROKERAGE AND MARGIN DEPOSITS AND OTHERWISE DIRECT
PAYMENTS  OF  CASH, CASH EQUIVALENTS AND SECURITIES AND OTHER PROPERTY INTO SUCH
BROKERAGE  ACCOUNTS  AND  TO  SUCH  BROKERS AS THE SUBADVISOR DEEMS DESIRABLE OR
APPROPRIATE.

     (G)  SOCIAL  SCREENING.  THE  ADVISOR  IS  RESPONSIBLE  FOR SCREENING THOSE
INVESTMENTS  SUBJECT  TO  SOCIAL  SCREENING ("SECURITIES") TO DETERMINE THAT THE
SECURITIES  INVESTMENTS  MEET  THE  FUND'S SOCIAL INVESTMENT CRITERIA, AS MAY BE
AMENDED  FROM  TIME TO TIME BY THE DIRECTORS. THE SUBADVISOR WILL BUY ONLY THOSE
SECURITIES  WHICH  THE  ADVISOR  DETERMINES  PASS  THE  FUND'S  SOCIAL  SCREENS.

     (H) VOTING PROXIES. THE SUBADVISOR AGREES TO TAKE APPROPRIATE ACTION (WHICH
MAY  INCLUDE  VOTING)  ON  ALL PROXIES FOR THE FUND'S PORTFOLIO INVESTMENTS IN A
TIMELY  MANNER.  SUCH  ACTION  IS  SUBJECT TO THE DIRECTION OF THE DIRECTORS AND
ADVISOR  AND  WILL  BE CONSISTENT WITH THE SOCIAL SCREENS AND CRITERIA GOVERNING
INVESTMENT  SELECTION  FOR  THE  FUND.

     (I) FURNISHING INFORMATION FOR THE FUND'S PROXIES. THE SUBADVISOR AGREES TO
PROVIDE THE ADVISOR IN A TIMELY MANNER WITH ALL INFORMATION NECESSARY, INCLUDING
THE  SUBADVISOR'S  CERTIFIED  BALANCE  SHEET  AND  INFORMATION  CONCERNING  THE
SUBADVISOR'S  CONTROLLING  PERSONS,  FOR  PREPARATION  OF  THE  FUND'S  PROXY
STATEMENTS,  AS  MAY  BE  NEEDED  FROM  TIME  TO  TIME.

     2.     BOOKS  AND  RECORDS.

A)  IN CONNECTION WITH THE PURCHASE AND SALE OF THE FUND'S PORTFOLIO SECURITIES,
THE  SUBADVISOR  SHALL  ARRANGE  FOR  THE  TRANSMISSION TO THE FUND'S CUSTODIAN,
AND/OR  THE  ADVISOR  ON  A DAILY BASIS, OF SUCH CONFIRMATIONS, TRADE TICKETS OR
OTHER  DOCUMENTATION  AS  MAY  BE NECESSARY TO ENABLE THE ADVISOR TO PERFORM ITS
ACCOUNTING AND ADMINISTRATIVE RESPONSIBILITIES WITH RESPECT TO THE MANAGEMENT OF
THE  FUND.

B)  PURSUANT  TO  RULE 31A-3 UNDER THE 1940 ACT, RULE 204-2 UNDER THE INVESTMENT
ADVISERS  ACT  OF  1940  AND  ANY  OTHER  LAWS,  RULES  OR REGULATIONS REGARDING
RECORDKEEPING,  THE SUBADVISOR AGREES THAT: (I) ALL RECORDS IT MAINTAINS FOR THE
FUND  ARE  THE PROPERTY OF THE FUND; (II) IT WILL SURRENDER PROMPTLY TO THE FUND
OR  ADVISOR ANY SUCH RECORDS UPON THE FUND'S OR ADVISOR'S REQUEST; (III) IT WILL
MAINTAIN  FOR  THE  FUND THE RECORDS THAT THE FUND IS REQUIRED TO MAINTAIN UNDER
RULE  31A-1(B)  INSOFAR  AS SUCH RECORDS RELATE TO THE INVESTMENT AFFAIRS OF THE
FUND  FOR WHICH THE SUBADVISOR HAS RESPONSIBILITY UNDER THIS AGREEMENT; AND (IV)
IT WILL PRESERVE FOR THE PERIODS PRESCRIBED BY RULE 31A-2 UNDER THE 1940 ACT THE
RECORDS  IT  MAINTAINS  FOR  THE  FUND.

C)  THE SUBADVISOR REPRESENTS THAT IT HAS ADOPTED A SUITABLE CODE OF ETHICS THAT
COVERS  ITS  ACTIVITIES  WITH  RESPECT  TO  ITS  SERVICES  TO  THE  FUND.

3.     EXCLUSIVITY.  EACH PARTY AND ITS AFFILIATES MAY HAVE ADVISORY, MANAGEMENT
SERVICE  OR  OTHER AGREEMENTS WITH OTHER ORGANIZATIONS AND PERSONS, AND MAY HAVE
OTHER  INTERESTS AND BUSINESSES; PROVIDED, HOWEVER, THAT DURING THE TERM OF THIS
AGREEMENT,  THE  SUBADVISOR WILL NOT PROVIDE INVESTMENT ADVISORY SERVICES TO ANY
OTHER  INVESTMENT  COMPANY  REGISTERED  UNDER THE 1940 ACT INVESTING IN SOCIALLY
SCREENED  SECURITIES.  THIS  SECTION  3 MAY BE WAIVED ON A CASE BY CASE BASIS IF
BOTH PARTIES AGREE IN WRITING, SUCH AGREEMENT WILL NOT BE UNREASONABLY WITHHELD.

4.     COMPENSATION.  THE ADVISOR WILL PAY TO THE SUBADVISOR AS COMPENSATION FOR
THE  SUBADVISOR'S  SERVICES  RENDERED  PURSUANT  TO  THIS  AGREEMENT  AN  ANNUAL
SUBADVISORY  FEE  AS SPECIFIED IN ONE OR MORE SCHEDULES ATTACHED HERETO AND MADE
PART  OF  THIS AGREEMENT. SUCH FEES SHALL BE PAID BY THE ADVISOR (AND NOT BY THE
FUND).  SUCH  FEES SHALL BE PAYABLE FOR EACH MONTH WITHIN 15 BUSINESS DAYS AFTER
THE  END OF SUCH MONTH. IF THE SUBADVISOR SHALL SERVE FOR LESS THAN THE WHOLE OF
A  MONTH,  THE COMPENSATION AS SPECIFIED SHALL BE PRORATED. THE SCHEDULES MAY BE
AMENDED  FROM TIME TO TIME, PROVIDED THAT AMENDMENTS ARE MADE IN CONFORMITY WITH
APPLICABLE  LAWS AND REGULATIONS AND THE ARTICLES OF INCORPORATION AND BYLAWS OF
THE FUND. ANY CHANGE IN THE SCHEDULE PERTAINING TO ANY NEW OR EXISTING SERIES OF
CALVERT  SOCIAL INDEX SERIES, INC. SHALL NOT BE DEEMED TO AFFECT THE INTEREST OF
ANY OTHER SERIES AND SHALL NOT REQUIRE THE APPROVAL OF SHAREHOLDERS OF ANY OTHER
SERIES.

5.     ASSIGNMENT AND AMENDMENT OF AGREEMENT. THIS AGREEMENT AUTOMATICALLY SHALL
TERMINATE  WITHOUT  THE PAYMENT OF ANY PENALTY IN THE EVENT OF ITS ASSIGNMENT OR
IF  THE  INVESTMENT  ADVISORY  AGREEMENT  BETWEEN THE ADVISOR AND THE FUND SHALL
TERMINATE FOR ANY REASON. THIS AGREEMENT SHALL NOT BE MATERIALLY AMENDED UNLESS,
IF  REQUIRED  BY  SECURITIES AND EXCHANGE COMMISSION RULES AND REGULATIONS, SUCH
AMENDMENT  IS  APPROVED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE OUTSTANDING
SHARES  OF THE FUND, AND BY THE VOTE, CAST IN PERSON AT A MEETING CALLED FOR THE
PURPOSE  OF  VOTING  ON SUCH APPROVAL, OF A MAJORITY OF THE DIRECTORS OF CALVERT
SOCIAL  INDEX  SERIES,  INC.  WHO  ARE  NOT  INTERESTED PERSONS OF THE FUND, THE
ADVISOR  OR  THE  SUBADVISOR.

6.     DURATION  AND  TERMINATION  OF THE AGREEMENT. THIS AGREEMENT SHALL BECOME
EFFECTIVE  UPON  ITS EXECUTION; PROVIDED, HOWEVER, THAT THIS AGREEMENT SHALL NOT
BECOME  EFFECTIVE  WITH  RESPECT TO ANY SERIES NOW EXISTING OR HEREAFTER CREATED
UNLESS  IT  HAS  FIRST  BEEN  APPROVED  (A)  BY  A VOTE OF THE MAJORITY OF THOSE
DIRECTORS  OF  CALVERT  SOCIAL  INDEX  SERIES,  INC. WHO ARE NOT PARTIES TO THIS
AGREEMENT  OR  INTERESTED  PERSONS  OF  SUCH  PARTY, CAST IN PERSON AT A MEETING
CALLED  FOR  THE  PURPOSE  OF  VOTING  ON  SUCH APPROVAL, AND (B) BY A VOTE OF A
MAJORITY  OF  THAT  SERIES'  OUTSTANDING VOTING SECURITIES. THIS AGREEMENT SHALL
REMAIN  IN  FULL  FORCE  AND  EFFECT  CONTINUOUSLY THEREAFTER (UNLESS TERMINATED
AUTOMATICALLY  AS  SET  FORTH  IN  SECTION  5)  EXCEPT  AS  FOLLOWS:

     (A)  CALVERT  SOCIAL  INDEX  SERIES,  INC.  MAY  AT ANY TIME TERMINATE THIS
AGREEMENT WITHOUT PENALTY WITH RESPECT TO ANY OR ALL FUNDS BY PROVIDING NOT LESS
THAN  60  DAYS'  WRITTEN  NOTICE DELIVERED OR MAILED BY REGISTERED MAIL, POSTAGE
PREPAID,  TO  THE ADVISOR AND THE SUBADVISOR. SUCH TERMINATION CAN BE AUTHORIZED
BY  THE  AFFIRMATIVE  VOTE  OF A MAJORITY OF THE (I) DIRECTORS OF CALVERT SOCIAL
INDEX  SERIES,  INC.  OR  (II)  OUTSTANDING  VOTING SECURITIES OF THE APPLICABLE
SERIES.

     (B)  THIS  AGREEMENT  WILL TERMINATE AUTOMATICALLY WITH RESPECT TO A SERIES
UNLESS, BY JANUARY 1, 2002, AND AT LEAST ANNUALLY THEREAFTER, THE CONTINUANCE OF
THE  AGREEMENT  IS  SPECIFICALLY APPROVED BY (I) THE DIRECTORS OF CALVERT SOCIAL
INDEX SERIES, INC. OR THE SHAREHOLDERS OF SUCH SERIES BY THE AFFIRMATIVE VOTE OF
A  MAJORITY OF THE OUTSTANDING SHARES OF SUCH SERIES, AND (II) A MAJORITY OF THE
DIRECTORS  OF  CALVERT SOCIAL INDEX SERIES, INC., WHO ARE NOT INTERESTED PERSONS
OF  THE  FUND, ADVISOR OR SUBADVISOR, BY VOTE CAST IN PERSON AT A MEETING CALLED
FOR THE PURPOSE OF VOTING ON SUCH APPROVAL. IF THE CONTINUANCE OF THIS AGREEMENT
IS  SUBMITTED  TO  THE  SHAREHOLDERS  OF  ANY SERIES FOR THEIR APPROVAL AND SUCH
SHAREHOLDERS FAIL TO APPROVE SUCH CONTINUANCE AS PROVIDED HEREIN, THE SUBADVISOR
MAY CONTINUE TO SERVE HEREUNDER IN A MANNER CONSISTENT WITH THE 1940 ACT AND THE
RULES  AND  REGULATIONS  THEREUNDER.

     (C)  THE  ADVISOR  MAY AT ANY TIME TERMINATE THIS AGREEMENT WITH RESPECT TO
ANY OR ALL FUNDS BY NOT LESS THAN 60 DAYS' WRITTEN NOTICE DELIVERED OR MAILED BY
REGISTERED  MAIL,  POSTAGE PREPAID, TO THE SUBADVISOR, AND THE SUBADVISOR MAY AT
ANY  TIME TERMINATE THIS AGREEMENT WITH RESPECT TO ANY OR ALL SERIES BY NOT LESS
THAN  90  DAYS  WRITTEN  NOTICE  DELIVERED OR MAILED BY REGISTERED MAIL, POSTAGE
PREPAID,  TO  THE  ADVISOR,  UNLESS  OTHERWISE  MUTUALLY  AGREED  IN  WRITING.

UPON  TERMINATION  OF THIS AGREEMENT WITH RESPECT TO ANY FUND, THE DUTIES OF THE
ADVISOR  DELEGATED  TO  THE SUBADVISOR UNDER THIS AGREEMENT WITH RESPECT TO SUCH
FUND  AUTOMATICALLY  SHALL  REVERT  TO  THE  ADVISOR.

7.     NOTIFICATION  TO  THE  ADVISOR.  THE SUBADVISOR PROMPTLY SHALL NOTIFY THE
ADVISOR  IN     WRITING  OF  THE  OCCURRENCE  OF  ANY  OF  THE FOLLOWING EVENTS:

     (A)  THE  SUBADVISOR  SHALL  FAIL TO BE REGISTERED AS AN INVESTMENT ADVISOR
UNDER THE INVESTMENT ADVISERS ACT OF 1940, AS AMENDED, AND UNDER THE LAWS OF ANY
JURISDICTION  IN  WHICH  THE  SUBADVISOR  IS  REQUIRED  TO  BE  REGISTERED AS AN
INVESTMENT  ADVISOR  IN  ORDER  TO PERFORM ITS OBLIGATIONS UNDER THIS AGREEMENT;

     (B)  THE  SUBADVISOR SHALL HAVE BEEN SERVED OR OTHERWISE HAVE NOTICE OF ANY
ACTION,  SUIT, PROCEEDING, INQUIRY OR INVESTIGATION, AT LAW OR IN EQUITY, BEFORE
OR  BY  ANY  COURT,  PUBLIC BOARD OR BODY, INVOLVING THE AFFAIRS OF THE FUND; OR

     (C)  A  VIOLATION  OF  THE  SUBADVISOR'S  CODE OF ETHICS IS DISCOVERED AND,
AGAIN,  WHEN  ACTION  HAS  BEEN  TAKEN  TO  RECTIFY  SUCH  VIOLATION;  OR

     (D)  ANY  OTHER  EVENT  THAT  MIGHT AFFECT THE ABILITY OF THE SUBADVISOR TO
PROVIDE  THE  SERVICES  PROVIDED  FOR  UNDER  THIS  AGREEMENT.

8.     DEFINITIONS.  FOR  THE  PURPOSES  OF THIS AGREEMENT, THE TERMS "VOTE OF A
MAJORITY OF THE OUTSTANDING SHARES," "AFFILIATED PERSON," "CONTROL," "INTERESTED
PERSON"  AND "ASSIGNMENT" SHALL HAVE THEIR RESPECTIVE MEANINGS AS DEFINED IN THE
1940  ACT  AND  THE  RULES  AND REGULATIONS THEREUNDER SUBJECT, HOWEVER, TO SUCH
EXEMPTIONS  AS  MAY  BE  GRANTED BY THE SECURITIES AND EXCHANGE COMMISSION UNDER
SAID  ACT;  AND  THE  TERM  "SPECIFICALLY  APPROVE  AT  LEAST ANNUALLY" SHALL BE
CONSTRUED IN A MANNER CONSISTENT WITH THE 1940 ACT AND THE RULES AND REGULATIONS
THEREUNDER.

9.     INDEMNIFICATION.  THE  SUBADVISOR  SHALL  INDEMNIFY AND HOLD HARMLESS THE
ADVISOR, THE FUND AND THEIR RESPECTIVE DIRECTORS, OFFICERS AND SHAREHOLDERS FROM
ANY  AND  ALL  CLAIMS,  LOSSES,  EXPENSES, OBLIGATION AND LIABILITIES (INCLUDING
REASONABLE  ATTORNEYS  FEES)  ARISING OR RESULTING FROM THE SUBADVISOR'S WILLFUL
MISFEASANCE,  BAD  FAITH,  GROSS  NEGLIGENCE OR RECKLESS DISREGARD OF ITS DUTIES
HEREUNDER.

     THE  ADVISOR  SHALL  INDEMNIFY  AND HOLD HARMLESS THE SUBADVISOR, THE FUND,
THEIR  RESPECTIVE  DIRECTORS, OFFICERS AND SHAREHOLDERS FROM ANY AND ALL CLAIMS,
LOSSES,  EXPENSES,  OBLIGATION  AND  LIABILITIES (INCLUDING REASONABLE ATTORNEYS
FEES)  ARISING  OR  RESULTING FROM THE ADVISOR'S WILLFUL MISFEASANCE, BAD FAITH,
GROSS  NEGLIGENCE  OR  RECKLESS  DISREGARD  OF ITS DUTIES HEREUNDER OR UNDER ITS
INVESTMENT  ADVISORY  AGREEMENT  WITH  THE  FUND.

10.     APPLICABLE  LAW  AND  JURISDICTION.  THIS AGREEMENT SHALL BE GOVERNED BY
MARYLAND  LAW,  AND  ANY  DISPUTE  ARISING  FROM  THIS AGREEMENT OR THE SERVICES
RENDERED  HEREUNDER  SHALL BE RESOLVED THROUGH LEGAL PROCEEDINGS, WHETHER STATE,
FEDERAL,  OR  OTHERWISE,  CONDUCTED  IN  THE  STATE OF MARYLAND OR IN SUCH OTHER
MANNER  OR  JURISDICTION AS SHALL BE MUTUALLY AGREED UPON BY THE PARTIES HERETO.

11.     MISCELLANEOUS.  NOTICES  OF  ANY  KIND  TO BE GIVEN TO A PARTY HEREUNDER
SHALL BE IN WRITING AND SHALL BE DULY GIVEN IF MAILED, DELIVERED OR COMMUNICATED
BY  ANSWER  BACK  FACSIMILE  TRANSMISSION TO SUCH PARTY AT THE ADDRESS SET FORTH
BELOW,  ATTENTION PRESIDENT, OR AT SUCH OTHER ADDRESS OR TO SUCH OTHER PERSON AS
A  PARTY  MAY  FROM  TIME  TO  TIME  SPECIFY.

     EACH  PARTY  AGREES  TO  PERFORM SUCH FURTHER ACTS AND EXECUTE SUCH FURTHER
DOCUMENTS  AS  ARE  NECESSARY TO EFFECTUATE THE PURPOSES HEREOF. THE CAPTIONS IN
THIS AGREEMENT ARE INCLUDED FOR CONVENIENCE ONLY AND IN NO WAY DEFINE OR DELIMIT
ANY  OF  THE PROVISIONS HEREOF OR OTHERWISE AFFECT THEIR CONSTRUCTION OR EFFECT.

     IN  WITNESS  WHEREOF,  AND HAVE EACH CAUSED THIS INSTRUMENT TO BE SIGNED IN
DUPLICATE ON ITS BEHALF BY ITS DULY AUTHORIZED REPRESENTATIVE, ALL AS OF THE DAY
AND  YEAR  FIRST  ABOVE  WRITTEN.

CALVERT ASSET MANAGEMENT COMPANY, INC.       WORLD ASSET MANAGEMENT L.L.C.

BY:/s/ William M. Tartikoff                  BY:/s/ Todd Johnson
William M. Tartikoff                         Todd Johnson
Senior Vice President                        President and CEO

<PAGE>

                SCHEDULE  TO  THE  INVESTMENT  SUBADVISORY  AGREEMENT
                 BETWEEN  CALVERT  ASSET  MANAGEMENT  COMPANY,  INC.
                       AND  WORLD  ASSET  MANAGEMENT,  L.L.C.

     AS  COMPENSATION PURSUANT TO SECTION 4 OF THE SUBADVISORY AGREEMENT BETWEEN
CALVERT  ASSET  MANAGEMENT  COMPANY,  INC.  (THE  "ADVISOR")  AND  WORLD  ASSET
MANAGEMENT,  L.L.C. (THE "SUBADVISOR"), THE ADVISOR SHALL PAY THE SUBADVISOR THE
ANNUAL  SUBADVISORY  FEE  SET FORTH BELOW FOR THE CALVERT SOCIAL INDEX FUND (THE
"FUND")  SERIES  OF  CALVERT  SOCIAL  INDEX  SERIES,  INC.

1.     FEE.  THE ANNUAL FEE WILL BE AT AN ANNUAL RATE EQUAL TO THE AVERAGE DAILY
NET  ASSETS  OF  THE FUND UNDER THE MANAGEMENT OF THE SUBADVISOR, COMPUTED DAILY
AND  PAYABLE  MONTHLY,  AS  FOLLOW:

     0.07%  ON  THE  FIRST  $50  MILLION,
     0.05%  ON  THE  NEXT  $50  MILLION,  AND
     0.03%  OVER  $100  MILLION

2.     FEE  WAIVER.  SUBADVISOR  AGREES  TO WAIVE ALL FEES FOR THE FIRST SIX (6)
MONTHS  AFTER  THE     FUND'S EFFECTIVE DATE.  THE SUBADVISOR MAY AGREE TO WAIVE
FEES  THEREAFTER  AS     CIRCUMSTANCES  DICTATE.UNANIMOUS CONSENT MINUTES OF
THE BOARD OF DIRECTORS OF

NORTH SHORE CAPITAL II, INC.
February 3, 1999

     Pursuant to the provisions of the Colorado Business Corporation Act, the
undersigned, being all of the Directors of NORTH SHORE CAPITAL II, INC. do
hereby waive any and all notice that may be required to be given with respect
to a meeting of the Directors of the Corporation and do hereby unanimously
take, ratify, confirm and approve the following actions, as of February 3,
1999:

1.RESOLVED, that these Minutes of action shall constitute the record of an
Annual Meeting of the Board of Directors of NORTH SHORE CAPITAL II, INC., and
when signed by all of the Directors, the Secretary of the Corporation, or any
other proper officer, is hereby authorized to certify any of the actions
hereinafter taken of this Corporation, on the date hereof, in accordance with
the requirements established by law.

2.RESOLVED, that the following provision is hereby adopted for the purpose of
defining, limiting and regulating the powers of the Corporation and of the
directors and stockholders:

The Board of Directors of the Corporation is hereby empowered to fix the value
of and to authorize the issuance from time to time of shares of its stock of
any class, whether now or hereafter authorized, or securities convertible
into shares of its stock of any class or classes, whether now or hereafter
authorized.

3.RESOLVED, that all other actions taken by the officers of the Corporation
since the date of the last Annual Minutes of the Board of Directors are
hereby ratified, approved and confirmed.

IN WITNESS WHEREOF, the undersigned Director has evidenced his
approval of the above proceedings as of the date first above mentioned.

/s/ Gerard M. Werner
_____________________________
GERARD M. WERNER

UNANIMOUS CONSENT MINUTES OF
THE BOARD OF DIRECTORS OF

NORTH SHORE CAPITAL II, INC.
February 3, 1999

     Pursuant to the provisions of the Colorado Business Corporation Act, the
undersigned, being all of the Directors of NORTH SHORE CAPITAL II, INC. do
hereby waive any and all notice that may be required to be given with respect
to a meeting of the Directors of the Corporation and do hereby unanimously take,
ratify, confirm and approve the following actions, as of February 3, 1999:

1.RESOLVED, that these Minutes of action shall constitute the record of an
Annual Meeting of the Board of Directors of NORTH SHORE CAPITAL II, INC., and
when signed by all of the Directors, the Secretary of the Corporation, or any
other proper officer, is hereby authorized to certify any of the actions
hereinafter taken of this Corporation, on the date hereof, in accordance with
the requirements established by law.

2.RESOLVED, that the following provision is hereby adopted for the purpose of
defining, limiting and regulating the powers of the Corporation and of the
directors and stockholders:

The Board of Directors may classify or reclassify any unissued stock by
setting or changing in any one or more respects, from time to time before
issuance of such stock, the preferences, conversion or other rights, voting
powers, restrictions, limitations as to distributions, qualifications, and
terms or conditions of redemption of such stock.

3.RESOLVED, that all other actions taken by the officers of the Corporation
since the date of the last Annual Minutes of the Board of Directors are
hereby ratified, approved and confirmed.

IN WITNESS WHEREOF, the undersigned Directors has evidenced his approval
of the above proceedings as of the date first above mentioned.

/s/ Gerard M. Werner
____________________________
GERARD M. WERNER

UNANIMOUS CONSENT MINUTES OF
THE BOARD OF DIRECTORS OF

NORTH SHORE CAPITAL II, INC.
February 3, 1999

     Pursuant to the provisions of the Colorado Business Corporation Act, the
undersigned, being all of the Directors of NORTH SHORE CAPITAL II, INC. do
hereby waive any and all notice that may be required to be given with respect
to a meeting of the Directors of the Corporation and do hereby unanimously
take, ratify, confirm and approve the following actions, as of February 3, 1999:

1.RESOLVED, that these Minutes of action shall constitute the record of an
Annual Meeting of the Board of Directors of NORTH SHORE CAPITAL II, INC., and
when signed by all of the Directors, the Secretary of the Corporation, or any
other proper officer, is hereby authorized to certify any of the actions
hereinafter taken of this Corporation, on the date hereof, in accordance with
the requirements established by law.

2.RESOLVED, that the following provision is hereby adopted for the purpose of
defining, limiting and regulating the powers of the Corporation and of the
directors and stockholders:

The Corporation shall issue shares of stock of any class now or hereafter
authorized, or any securities exchangeable for, or convertible into such
shares, or warrants or other instruments evidencing rights or options to
subscribe for, or otherwise acquire such shares, only if the issuance of such
shares or such securities exchangeable for, or convertible into such shares,
or such warrants or any other instruments evidencing rights or options to
subscribe for, purchase or otherwise acquire such shares, shall be authorized
by the unanimous vote of all of the directors comprising the Board of
Directors of the Corporation.

In the event that the issuance of such shares, or such securities exchangeable
for, or convertible into such shares, or such warrants or any other
instruments evidencing rights or options to subscribe for, purchase or
otherwise acquire such shares, shall be authorized by the unanimous vote of
all of the directors comprising the Board of Directors of the Corporation, the
issuance of such shares or such securities exchangeable for, or convertible
into such shares, or such warrants or, any other instruments evidencing rights
or options to subscribe for, purchase or otherwise acquire such shares, shall
be made for such consideration as the Board of Directors of the Corporation by
the unanimous vote of all of the directors thereof shall deem advisable.

3.RESOLVED, that all other actions taken by the officers of the Corporation
since the date of the last Annual Minutes of the Board of Directors are
hereby ratified, approved and confirmed.

     IN WITNESS WHEREOF, the undersigned Director has evidenced his
approval of the above proceedings as of the date first above mentioned.

/s/ Gerard M. Werner
____________________________
GERARD M. WERNER

UNANIMOUS CONSENT MINUTES OF
THE BOARD OF DIRECTORS OF

NORTH SHORE CAPITAL II, INC.
February 3, 1999

     Pursuant to the provisions of the Colorado Business Corporation Act, the
undersigned, being all of the Directors of NORTH SHORE CAPITAL II, INC. do
hereby waive any and all notice that may be required to be given with respect
to a meeting of the Directors of the Corporation and do hereby unanimously
take, ratify, confirm and approve the following actions, as of February 3,
1999:

1.RESOLVED, that these Minutes of action shall constitute the record of an
Annual Meeting of the Board of Directors of NORTH SHORE CAPITAL II, INC., and
when signed by all of the Directors, the Secretary of the Corporation, or any
other proper officer, is hereby authorized to certify any of the actions
hereinafter taken of this Corporation, on the date hereof, in accordance with
the requirements established by law.

2.RESOLVED, that newly created directorships resulting from any increase of
the authorized number of Directors or any vacancies in the Board of Directors
resulting from death, resignation, retirement, disqualification, removal from
office or other cause shall be filled by a majority vote of the remaining
Directors, though less than a quorum, and the Directors so chosen shall hold
office for a term expiring at the next annual meeting of shareholders at which
a successor shall be elected and shall qualify.  The shareholders shall not
be entitled to fill a vacancy created on the Board of Directors.

3.RESOLVED, that all other actions taken by the officers of the Corporation
since the date of the last Annual Minutes of the Board of Directors are
hereby ratified, approved and confirmed.

     IN WITNESS WHEREOF, the undersigned Directors have evidenced their
approval of the above proceedings as of the date first above mentioned.

/s/ Gerard M. Werner
_________________________
GERARD M. WERNER

UNANIMOUS CONSENT MINUTES OF
THE BOARD OF DIRECTORS OF
NORTH SHORE CAPITAL II, INC.
February 3, 1999

     Pursuant to the provisions of the Colorado Business Corporation Act, the
undersigned, being all of the Directors of NORTH SHORE CAPITAL II, INC. do
hereby waive any and all notice that may be required to be given with respect
to a meeting of the Directors of the Corporation and do hereby unanimously
take, ratify, confirm and approve the following actions, as of February 3,
1999:

1.RESOLVED, that these Minutes of action shall constitute the record of an
Annual Meeting of the Board of Directors of NORTH SHORE CAPITAL II, INC., and
when signed by all of the Directors, the Secretary of the Corporation, or any
other proper officer, is hereby authorized to certify any of the actions
hereinafter taken of this Corporation, on the date hereof, in accordance with
the requirements established by law.

2.RESOLVED, that the officers shall be elected annually by the Board of
Directors at its first meeting following the annual meeting of stockholders,
except where a longer term is expressly provided in an employment contract
duly authorized and approved by the Board of Directors. In any such employment
contract, an officer may be employed for a term in excess of one year and for
so long a term as shall be determined by the Board of Directors otherwise in
accordance with the Colorado Business Corporation Act.

3.RESOLVED, that all other actions taken by the officers of the Corporation
since the date of the last Annual Minutes of the Board of Directors are
hereby ratified, approved and confirmed.

     IN WITNESS WHEREOF, the undersigned Director has evidenced his
approval of the above proceedings as of the date first above mentioned.

/s/ Gerard M. Werner

_________________________
GERARD M. WERNER

UNANIMOUS CONSENT MINUTES OF
THE BOARD OF DIRECTORS OF

NORTH SHORE CAPITAL II, INC.
February 3, 1999

     Pursuant to the provisions of the Colorado Business Corporation Act, the
undersigned, being all of the Directors of NORTH SHORE CAPITAL II, INC. do
hereby waive any and all notice that may be required to be given with respect
to a meeting of the Directors of the Corporation and do hereby unanimously
take, ratify, confirm and approve the following actions, as of February 3,
1999:

1.RESOLVED, that these Minutes of action shall constitute the record of an
Annual Meeting of the Board of Directors of NORTH SHORE CAPITAL II, INC., and
when signed by all of the Directors, the Secretary of the Corporation, or any
other proper officer, is hereby authorized to certify any of the actions
hereinafter taken of this Corporation, on the date hereof, in accordance
with the requirements established by law.

2.RESOLVED, that Members of the Board of Directors and the shareholders at any
annual or special meeting may participate in a meeting by means of a
conference telephone, videolink or similar communications equipment if all
persons participating in the meeting can hear and speak to each other at the
same time. Participation in a meeting by these means constitutes presence in
person at a meeting.

3.RESOLVED, that all other actions taken by the officers of the Corporation
since the date of the last Annual Minutes of the Board of Directors are
hereby ratified, approved and confirmed.

     IN WITNESS WHEREOF, the undersigned Director has evidenced his
approval of the above proceedings as of the date first above mentioned.

/s/ Gerard M. Werner
_________________________
GERARD M. WERNER

UNANIMOUS CONSENT MINUTES OF
THE BOARD OF DIRECTORS OF

NORTH SHORE CAPITAL II, INC.
February 3, 1999

     Pursuant to the provisions of the Colorado Business Corporation Act, the
undersigned, being all of the Directors of NORTH SHORE CAPITAL II, INC. do
hereby waive any and all notice that may be required to be given with respect
to a meeting of the Directors of the Corporation and do hereby unanimously
take, ratify, confirm and approve the following actions, as of February 3,
1999:

     WHEREAS, certain individuals have performed useful and valuable services
for and on behalf of the Corporation without remuneration, and the Board of
Directors has determined that it is in the best interest of the Corporation to
issue stock to the individuals who have performed such services for and on
behalf of the Corporation in payment for such services.

     1.RESOLVED: That the Corporation issue the following number of shares of
Common Stock to the following named person, in consideration for past
services performed by such person for and on behalf of the Corporation, as
described below, which services are deemed by the Board of Directors to have
values of not less than the amounts shown below:

Name                      Number of Shares    Consideration      Value

Gerard Werner             2,200,000           Services Rendered  $4,400.00

2.RESOLVED, that these Minutes of action shall constitute the record of an
Annual Meeting of the Board of Directors of NORTH SHORE CAPITAL II, INC., and
when signed by all of the Directors, the Secretary of the Corporation, or any
other proper officer, is hereby authorized to certify any of the actions
hereinafter taken of this Corporation, on the date hereof, in accordance with
the requirements established by law.

3.RESOLVED, that all other actions taken by the officers of the Corporation
since the date of the last Annual Minutes of the Board of Directors are
hereby ratified, approved and confirmed.

IN WITNESS WHEREOF, the undersigned Directors have evidenced their
approval of the above proceedings as of the date first above mentioned.

/s/ Gerard M. Werner

_________________________
GERARD M. WERNER

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