Julie Gorte Joins Pax World as Senior Vice President for Sustainable Investing

Dr. Gorte Will Focus on Integrating Social & Financial Analysis, Shareholder Advocacy and Sustainable Investing

PORTSMOUTH, NH - APRIL 19, 2007 - Pax World Management Corp., investment adviser to Pax World Funds ("Pax"), which launched the nation's first socially responsible mutual fund in 1971, today announced that Dr. Julie Gorte has joined the firm in the newly created role of Senior Vice President, Sustainable Investing. Ms. Gorte, formerly served as Vice President and Chief Social Investment Strategist at Calvert Group, a leading socially responsible mutual fund firm. Prior to that she served as Director of Calvert's Social Research Department, where she managed Calvert's team of social and environmental analysts as well as shareholder advocacy.

"We are thrilled to welcome Julie Gorte to Pax," said Joe Keefe, Pax World's President and CEO. "Julie has long been one of the preeminent thinkers in the field, and we believe she is uniquely suited to lead Pax World's sustainable investing efforts as our company, and indeed our entire industry, enters a new period of ambitious growth."

Ms. Gorte has been one of the leading advocates for the full integration of environmental, social and governance (ESG) factors into financial analysis and decision-making. Mr. Keefe and Ms. Gorte said that they "share the belief that companies meeting high standards of corporate responsibility and sustainability constitute better long-term investments."

"I am excited to join Pax given the company's pioneering leadership in the field of sustainable investing," said Ms. Gorte. "I truly believe we can make sustainable investing a norm, not a niche, on the investment landscape."

Before joining Calvert in 2000, Dr. Gorte served in several public policy and nonprofit positions focusing on science and technology policy, environmental policy, industrial competitiveness, and workplace policy. These included serving as Senior Policy Analyst for the Northeast-Midwest Institute, Program Manager for Technology Analysis at the Environmental Protection Agency's Climate Policies and Programs Division, Vice President for Ecological and Economics Research at The Wilderness Society, and nearly 14 years' service at the Congressional Office of Technology Assessment.

Dr. Gorte is a member of the board of directors of the Coalition for Environmentally Responsible Economies (CERES), a member of the board of directors of the Center for a New American Dream and served on the Stakeholder Council of the Global Reporting Initiative. She is also a member of the Steering Committee and co-chair of the Asset Management Working Group of the United Nations Environment Programme Finance Initiatives. She received her M.S. and Ph.D. in Resource Economics from Michigan State University, and graduated Magna Cum Laude with a B.S. in Forest Management from Northern Arizona University.

For more information, contact Brendon Buckley 617.933.5021 or Cosabeth Bullock 617.933.5277.