FTSE Benchmark Selected By Vanguard For Social Index Fund

FTSE is pleased to announce that the FTSE4Good US Select Index will be the new target benchmark for Vanguard's USD388 million social index fund, which previously tracked the Calvert Social Index.The transition to the new FTSE4Good benchmark is expected to occur before the end of 2005, and will be renamed Vanguard FTSE Social Index Fund.

The FTSE4Good US Select Index, customized specifically for Vanguard, draws on FTSE4Good's rigorous corporate social responsibility standards involving environmental sustainability, human rights, and stakeholders relationships, and will not include companies that are involved with tobacco, alcohol, adult entertainment, firearms, gambling, nuclear power, or those that violate fair labor practices and equal opportunity standards.

Vanguard is the second-largest mutual fund firm in the United States and manages approximately $875 billion in US mutual fund assets, including more than $260 billion in employer-sponsored retirement plans. Vanguard offers 130 funds to US investors and more than 40 additional funds in foreign markets.