The 18-month-old Harvard Campaign has raised about $128 million of its $250 million target figure.

Fred L. Glimp '50, vice president for alumni affairs and development, said yesterday that the contributions to date represent results of the drive's first phase and are "almost all major"--$25,000 or higher. He added that fund drive officials are "cautiously optimistic" that the second, regional phase of the campaign will keep the projected five-year drive on schedule.

The drive's first stage--which canvassed 12 major U.S. cities for donations from individuals, corporations and foundations--has been "very encouraging," Glimp said, but still must attract one $15 million and two $10 million donations.

The Boston-area drive, first step in the two-year regional phase which will solicit funds from all of the nearly 57,000 College alumni, has just begun a one-on-one telephone drive, Thomas M. Reardon, director of University development, said yesterday.

The calls have averaged about $35,000 a night in the first week, Reardon said. About 3500 area alumni make the calls, appealing mostly to alumni from their classes and following-up with a set of pamphlets and letters from President Bok.