Magellan Health Services Announces Fourth Quarter and Fiscal Year 2004 Earnings Release Date and Conference Call

FARMINGTON, Conn. -- Magellan Health Services, Inc. (Nasdaq:MGLN) today announced that the Company will release fourth quarter and fiscal year 2004 earnings results on Thursday, March 3, 2005.

The fourth quarter and fiscal year 2004 earnings announcement will be issued at approximately 6:30 a.m.

A conference call will be held to discuss the earnings at 9:00 a.m. Eastern time on Thursday, March 3. To participate in the call, interested parties should call 1-888-390-4698 and reference the passcode 2004 Earnings and conference leader Steve Shulman approximately 15 minutes before the start of the call.

A taped replay of the conference call will be available from approximately 11:00 a.m. Eastern time on Thursday March 3, until 12:00 midnight on Thursday, March 10. The call-in numbers for the replay are 1-866-395-4276 and 1-203-369-0484 (from outside the U.S.).

Those who plan to listen to the call and/or Webcast are encouraged to read Magellan's Annual Report on Form 10-K for the year ended December 31, 2003, filed with the Securities and Exchange Commission on March 30, 2004, including the discussion of risks set forth in the section entitled 'Cautionary Statements.' In addition, listeners are encouraged to read all other 2003 and 2004 reports filed with the Securities and Exchange Commission, including but not limited to the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on October 29, 2004, to learn about Magellan's historical operational and financial results.