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Health Net Federal Services Proudly Sponsors Operation Peer Support at the Blinded Veterans Association 63rd National Convention

August 11, 2008

Health Net Federal Services, LLC, the government operations division of Health Net, Inc. (NYSE:HNT), today announced its sponsorship of Operation Peer Support at the Blinded Veterans Association (BVA) 63rd National Convention in Phoenix, Ariz., August 12-16, 2008. More than 170 blinded service members and veterans will gather at the Hyatt Regency Phoenix Hotel to learn about the latest technologically advanced resources now available to them, as well as ways to strengthen and support one another.

Operation Peer Support is a program that helps newly injured veterans from Operation Iraqi Freedom (OIF) and Operation Enduring Freedom (OEF) attend BVA’s national convention. Fourteen blinded American veterans and three British Army service members who have recently returned from Iraq and Afghanistan will have the opportunity to attend and listen to the experiences of their counterparts from World War II, Korea, Vietnam, and Operation Desert Storm. Four of these blinded veterans will be sponsored directly from Health Net’s contributions to Operation Peer Support.

“Health Net is honored to sponsor BVA’s Operation Peer Support for the third straight year,” said Steve Tough, president, Health Net Federal Services. “Our company strongly believes in supporting programs that empower disabled veterans to improve their quality of life through rehabilitation, counseling, job training and placement. We are proud that our contributions will make a difference in the lives of these blinded warriors.”

Veterans and attendees at the conference will hear from Dr. James B. Peake, Secretary of Veterans Affairs, during the convention’s opening business session on August 13. In addition, a high-tech exhibition will showcase technology that improves the quality of life for blinded and visually impaired veterans. Secretary Peake’s keynote address and the technological exhibition are open to the media and the public.

Health Net partners with the Department of Veteran Affairs (VA) to provide high quality, cost-effective health care programs for veterans nationwide. Health Net pledges through its Community Giving Program to support events and organizations that help active duty service members, Reserve Component members, retirees, veterans, survivors and military families achieve a fit and healthy life; and honors their service and sacrifice to our nation.

For more information on Health Net’s VA Programs and Community Giving Program, go to www.healthnetfederalservices.com/va.

About Health Net Federal Services

Health Net Federal Services, LLC, a subsidiary of Health Net, Inc., has a long history of providing cost-effective, quality managed health care programs for government agencies including the Departments of Defense and Veterans Affairs. As the managed care support contractor for the TRICARE North Region, Health Net provides health care services to over 3 million uniformed services beneficiaries, active and retired, and their families.

Health Net, Inc. is among the nation’s largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company’s health plans and government contracts subsidiaries provide health benefits to approximately 6.7 million individuals across the country through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs. Health Net’s behavioral health subsidiary, MHN, provides mental health benefits to approximately 6.9 million individuals in all 50 states. The company’s subsidiaries also offer managed health care products related to prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs.

For more information on Health Net, Inc., please visit the company’s Web site at www.healthnet.com. For more information on Health Net Federal Services, please visit www.healthnetfederalservices.com.

Cautionary Statements

All statements in this press release, other than statements of historical information provided herein, may be deemed to be forward-looking statements and as such are subject to a number of risks and uncertainties. These statements are based on management’s analysis, judgment, belief and expectation only as of the date hereof, and are subject to uncertainty and changes in circumstances. Without limiting the foregoing, statements including the words “believes,”"anticipates,”"plans,”"expects,”"may,”"should,”"could,”"estimate,”"intend” and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially due to, among other things, rising health care costs, negative prior period claims reserve developments, trends in medical care ratios, unexpected utilization patterns or unexpectedly severe or widespread illnesses, membership declines, rate cuts affecting our Medicare or Medicaid business, issues relating to provider contracts, litigation costs, regulatory issues, operational issues, health care reform and general business conditions. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included within the company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to publicly revise any of its forward-looking statements to reflect events or circumstances that arise after the date of this release.




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