Health Net Sponsors Blinded Veterans Association's 61st National Convention; Health Net Federal Services Funds Operation Peer Support to Send Newly Blinded Veterans to the BVA Convention.

SACRAMENTO, Calif. -- Health Net Federal Services (HNFS), the government operations division of Health Net, Inc. (NYSE:HNT), today announced it is sponsoring Operation Peer Support with a $10,000 donation to send newly-blinded soldiers injured in Iraq and Afghanistan to the Blinded Veterans Association's (BVA) 61st National Convention to be held from August 15-20, 2006 in Buffalo, New York.

"Health Net is proud and privileged to support Operation Peer Support for an organization like the Blinded Veterans Association that shares our mission of improving the quality of life for veterans with disabilities," said Steve Tough, president, Health Net Federal Services. "The BVA has helped thousands of blinded veterans to become important contributors to society through rehabilitation, counseling, job training and placement. We are pleased to honor their service to our nation."

The BVA's Operation Peer Support offers a unique opportunity for newly blinded soldiers from across the country to share their experiences with peers and previous generations of veterans who have returned from war blinded, explained Tom Zampieri, director of government relations for the BVA and a blinded veteran. The BVA National Convention is held annually to educate blinded veterans about the resources available to them and to provide a spirit of fellowship whereby blinded veterans can help one another, said Zampieri.

One of the nine recently blinded soldiers who will attend the BVA Convention through Operation Peer Support is Sergeant 1st Class Jeffrey Mittman from Hoosier, Indiana, who joined the U.S. Army 16 years ago. Mittman was injured in a roadside attack in Iraq on July 7, 2005, suffering major injuries to his face and hands, including severely limited vision. He has been learning new ways to cope with his injuries at the Blind Rehabilitation Center located at the Edward Hines Jr. VA Hospital in Chicago, Illinois. He is also scheduled to undergo four reconstructive facial surgeries at the Walter Reed Army Medical Center in Washington, D.C. Attending the BVA National Convention through Operation Peer Support will help him to better cope with the rehabilitation and recovery process by learning from others who have decades of experience in learning to live with the loss of vision, added Zampieri.

According to Zampieri, Census Bureau data estimates there are approximately 168,000 blinded veterans in America today and about 44,700 blinded veterans are currently enrolled in the VA health care system. Due to an aging veteran population with eye disorders such as Glaucoma and Macular Degeneration leading to blindness, the VA Office of Research estimates that by 2010, the number of blinded veterans enrolled in the VA will be close to 50,000. The BVA helps these veterans to escape despair, regain their self-respect and contribute to the communities in which they live and work.

The mission of Health Net's giving program is "Supporting Those Who Support Our Military Heroes." Health Net believes that our service members could not do what they do without the support of their families. We pledge, through charitable giving, to improve their quality of life by supporting programs that help active duty and retired military families and veterans achieve a fit and healthy life and otherwise honor their service to our nation.

For more information on the Blinded Veterans Association, go to www.bva.org.

About Health Net

Health Net Federal Services, a subsidiary of Health Net, Inc., has a long history of providing cost-effective and quality managed health care programs for government agencies, including the Department 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 HMO, POS, insured PPO and government contracts subsidiaries provide health benefits to approximately 6.6 million individuals in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and TRICARE programs. Health Net's behavioral health services subsidiary, MHN, provides behavioral health, substance abuse and employee assistance programs (EAPs) to approximately 7.3 million individuals in various states, including the company's own health plan members. 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

Certain matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve a number of risks and uncertainties. All statements, other than statements of historical information provided herein, may be deemed to be forward-looking statements. 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, 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, issues relating to provider contracts, 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 filed with the SEC and the risks discussed in the company's other periodic filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date of this release.