EDGAR EXHIBIT 12 REFERENCE N-1A EXHIBIT (L) SUBSCRIPTION AGREEMENT (FOR INITIAL CAPITAL) TO: CALVERT SOCIAL INDEX SERIES, INC. IN CONNECTION WITH THE INITIAL CAPITALIZATION OF CALVERT SOCIAL INDEX SERIES, INC. ("THE FUND"), THE UNDERSIGNED HEREBY...

XXXXX  EXHIBIT  12
REFERENCE  N-1A  EXHIBIT  (L)

                             SUBSCRIPTION  AGREEMENT
                              (FOR  INITIAL  CAPITAL)

TO:     XXXXXXX  SOCIAL  INDEX  SERIES,  INC.

     IN  CONNECTION  WITH  THE  INITIAL  CAPITALIZATION  OF XXXXXXX SOCIAL INDEX
SERIES,  INC.  ("THE  FUND"),  THE UNDERSIGNED HEREBY PURCHASES SHARES OF COMMON
STOCK  ("SHARES")  AND  TENDERS  THE  AMOUNT IN PAYMENT THEREOF SET FORTH BELOW.


1.     OWN  ACCOUNT.  THE  UNDERSIGNED HEREBY REPRESENTS, WARRANTS AND COVENANTS
THAT  IT  IS ACQUIRING THE SHARES IN GOOD FAITH SOLELY FOR THE UNDERSIGNED'S OWN
ACCOUNT,  FOR  INVESTMENT  PURPOSES  AND  NOT  WITH  A  VIEW  TO  RESALE,
FRACTIONALIZATION,  DISPOSITION OR DISTRIBUTION OF ALL OR ANY PART THEREOF.  THE
UNDERSIGNED  WILL  BE  THE  SOLE  PARTY IN SHARES IN THIS INVESTMENT AND WILL BE
VESTED  WITH  ALL  LEGAL  AND EQUITABLE RIGHTS IN THE SHARES. THE UNDERSIGNED IS
AWARE  THAT THERE ARE LEGAL AND PRACTICAL LIMITS ON THE UNDERSIGNED'S ABILITY TO
SELL  OR  DISPOSE  OF THE SHARES, AND, THEREFORE, THAT THE UNDERSIGNED MUST BEAR
THE  ECONOMIC  RISK  OF  THE  INVESTMENT  FOR  AN  INDEFINITE  PERIOD  OF  TIME.

2.     NO REGISTRATION. THE UNDERSIGNED UNDERSTANDS, RECOGNIZES AND ACKNOWLEDGES
THAT  THE  SHARES  HAS  NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED,  OR  ANY  APPLICABLE STATE SECURITIES LAWS BY REASON OF EXEMPTIONS FROM
THE  REGISTRATION  REQUIREMENTS  OF  THE ACT AND SUCH LAWS, AND MAY NOT BE SOLD,
PLEDGED,  ASSIGNED,  OR  OTHERWISE  DISPOSED  OF  IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION  STATEMENT UNDER THE ACT UNLESS AN EXEMPTION FROM SUCH REGISTRATION
IS  AVAILABLE.  THE  FUND  IS  UNDER  NO OBLIGATION TO, AND HAS NO INTENTION TO,
REGISTER THE SHARES OR COMPLY WITH ANY EXEMPTION FROM REGISTRATION TO PERMIT ANY
RESALE.

3.     NO  SALE OR TRANSFER. THE UNDERSIGNED WILL NOT ATTEMPT TO SELL, TRANSFER,
ASSIGN,  PLEDGE, OR OTHERWISE DISPOSE OF ALL OR ANY PORTION OF THE UNDERSIGNED'S
SHARES  UNLESS  SUCH  TRANSACTION  WOULD  CAUSE  NO  MATERIAL  HARM TO THE FUND.


     THE  UNDERSIGNED  HEREBY  PURCHASES  6,667  SHARES  AND  TENDERS IN PAYMENT
THEREOF,  GOOD  FUNDS  IN  AN AMOUNT EQUAL TO $100,000 ON THIS 26TH DAY OF JUNE,
2000.


     XXXXXXX  ASSET  MANAGEMENT  COMPANY,  INC.


     BY:_______________________________
     XXXXXXX  X.  XXXXXXXXX
     SENIOR  VICE  PRESIDENT