News Releases

AVON, Conn.--(BUSINESS WIRE)-- Jan. 16, 2009 -- Magellan Health Services, Inc.  (Nasdaq:MGLN) today announced that it will release fourth quarter 2008 and fiscal year 2008 earnings results on  Friday, February 27, 2009 . Management will discuss the Company's financial results as well as its business strategy and outlook in a conference call to be held the same day at  10:00 a.m. Eastern time .

The press release detailing the Company's fourth quarter and fiscal year 2008 earnings will be issued at approximately 6:30 a.m. Eastern time on Friday, February 27, and will be immediately available on the investor relations page at www.MagellanHealth.com.

To participate in the conference call, interested parties should call 1-888-566-8408 and reference the passcode Fourth Quarter Earnings approximately 15 minutes before the start of the call. The conference call also will be available via a live Webcast at Magellan's investor relations page at www.MagellanHealth.com.

A taped replay of the conference call will be available for one week following the call. The call-in numbers for the replay are 888-673-3574 and 402-220-6437 (from outside the U.S.).

Those who plan to access the call or Webcast are encouraged to read Magellan's Annual Report on Form 10-K for the year ended December 31, 2007, filed with the Securities and Exchange Commission on February 29, 2008 and Magellan's Form 10-Q for the quarter ended September 30, 2008, filed with the Securities and Exchange Commission on October 31, 2008, for material information regarding Magellan's operational and financial results, including the section entitled "Risk Factors."

About Magellan: Headquartered in Avon, Conn., Magellan Health Services, Inc. (Nasdaq:MGLN) is a leading specialty health care management organization. Its customers include health plans, corporations and government agencies.

Cautionary Statement: Certain of the statements to be made in the Company's earnings announcement and conference call may constitute forward-looking statements contemplated under the Securities Exchange Act of 1934 and the Securities Act of 1933, as amended, that involve a number of risks and uncertainties. Any such forward-looking statements are based on management's analysis, judgment, belief and expectations as of the date of such statements and are subject to known and unknown uncertainties and risks which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Any such forward-looking statements are qualified in their entirety by the more complete discussion of risks set forth in the section entitled "Risk Factors" in Magellan's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission. Magellan undertakes no obligation to publicly revise such forward looking statements to reflect events or circumstances that arise after the date of such statements.

CONTACT: Magellan Health Services, Inc.
Investor Contact:
Renie Shapiro, 877-645-6464
or
Media Contact:
Erin Somers, 410-953-2405

Source: Magellan Health Services, Inc.