Exhibit 99.1

Contact:	Edmund E. Kroll
	Senior Vice President, Finance & Investor Relations
	(212) 759-0382
	Eric R. Slusser
	Executive Vice President and Chief Financial Officer
	(314) 725-4477

FOR IMMEDIATE RELEASE

CENTENE CORPORATION REPORTS 2008 SECOND QUARTER EARNINGS

ST. LOUIS, MISSOURI (July 22, 2008) -- Centene Corporation (NYSE: CNC) today announced its net earnings from continuing operations for the quarter ended June 30, 2008 were $18.0 million, or $0.41 per diluted share, compared to $10.2 million, or $0.23 per diluted share in the 2007 second quarter.  As a reminder, the 2008 first quarter results included the benefit of the July 1 through December 31, 2007 period rate increase for Georgia of approximately $0.28 per diluted share.  Unless specifically noted, the discussions below are in the context of continuing operations.

Second Quarter Highlights

·   Quarter-end Medicaid Managed Care membership of 1.2 million.

·   Revenues of $860.1 million, or $837.9 million net of premium taxes, an 18.2% increase over the 2007 second quarter.

·   Health Benefits Ratio (HBR), which reflects medical costs as a percent of premium revenues, of 83.3%, compared to 83.6% in the 2007 second quarter.

·   General and administrative (G&A) expense ratio of 13.5%, compared to 14.4% in the 2007 second quarter.

·   Cash flow from operations of $60.0 million.

·   Days in claims payable of 48.5.

Other Events

·   Commenced operations under our Texas Foster Care contract, effective April 1, 2008.

·   Repurchased 347,432 shares during the second quarter for approximately $6.4 million.

·   Completed the previously announced acquisition of Celtic Insurance Company, or Celtic, a health insurance carrier focused on the individual health insurance market, effective July 1, 2008.

·   Concluded operations for SSI recipients in the Northwest region of Ohio, effective June 30, 2008.

·   Awarded a contract by the Arizona Health Care Cost Containment System to provide Acute Care services to Medicaid recipients in the Yavapai service area.  Membership operations are expected to commence on October 1, 2008.

Michael F. Neidorff, Centene’s Chairman and Chief Executive Officer, stated, “We are pleased with the progress our results show this quarter and believe they set a foundation for improvement that we can build on for the rest of 2008 and beyond.  Our team remains committed to the goal of margin expansion and we expect to achieve a runrate pretax margin of 4% by the end of 2008 through focused medical management and G&A leverage. While the new growth opportunities available to us remain robust, we will employ a disciplined and selective approach to pursuing them,” concluded Neidorff.

Centene Corporation Reports 2008 Second Quarter Results July 22, 2008 / Page 2

The following table depicts membership in Centene’s managed care organizations, by state, at June 30, 2008 and 2007:

		2008			2007
Georgia			278,800			281,400
Indiana			161,700			161,700
New Jersey			55,100			59,100
Ohio			137,300			128,200
South Carolina(a)			22,500			31,100
Texas			427,200			333,900
Wisconsin			124,800			136,100
Total			1,207,400			1,131,500
(a) Reflects the conversion of South Carolina membership from non-risk in 2007 to full risk in 2008.

The following table depicts membership in Centene’s managed care organizations, by member category, at June 30, 2008 and 2007:

		2008			2007
Medicaid			866,700			846,900
SCHIP/Foster Care			267,000			216,500
SSI/Medicare			73,700			68,100
Total			1,207,400	(a)		1,131,500	(b)
(a) 1,203,900 at-risk; 3,500 ASO
(b) 1,097,200 at-risk; 34,300 ASO

Statement of Operations

·   For the 2008 second quarter, revenues, net of premium taxes, increased 18.4% to $837.9 million from $707.9 million in the 2007 second quarter.  The increase was primarily driven by premium rate increases in Georgia, membership growth in Texas and Ohio, which are the two markets that added SSI products in 2007, as well as growth in Texas from the new Foster Care contract commencing in April 2008.

·   The consolidated HBR, which reflects medical costs as a percent of premium revenues, was 83.3%, a decrease from 83.6% in the 2007 second quarter.  The decrease is primarily due to overall increased premium yield and improvement in our Georgia market.  Sequentially, our consolidated HBR increased from 83.0% in the 2008 first quarter to 83.3% due to the effect of the Georgia rate increase included in the first quarter, offset by moderating medical cost trends, especially related to SSI members in Ohio.

·   Consolidated G&A expense as a percent of premium and service revenues was 13.5% in the second quarter of 2008, a decrease from 14.4% in the second quarter of 2007.

·   Earnings per diluted share from continuing operations were $0.41, compared to $0.23 in the 2007 second quarter.

Balance Sheet and Cash Flow

At June 30, 2008, the Company had cash and investments of $709.9 million, including $680.9 million held by its regulated entities and $29.0 million held by its unregulated entities.  Medical claims liabilities totaled $363.7 million, representing 48.5 days in claims payable, an increase of 2.3 days from June 30, 2007 and a decrease of 0.8 days from March 31, 2008.  Total debt was $222.1 million and debt to capitalization was 32.6%.  Year to date cash flow from operations was $86.7 million.

Centene Corporation Reports 2008 Second Quarter Results July 22, 2008 / Page 3

A reconciliation of the Company’s change in days in claims payable from the immediately preceding quarter-end is presented below:

Days in claims payable, March 31, 2008	49.3
Effect of the addition of Foster Care	(0.3)
Change in provider bonus accrual	(0.2)
Claims inventory reduction	(0.3)
Days in claims payable, June 30, 2008	48.5

Outlook

The table below depicts the Company’s annual guidance for 2008:

		Full Year 2008
		Low		High
Revenue (in millions)1		$    3,360		$  3,410
Earnings per diluted share		$      1.87		$    1.97
____________________________________
1 Revenue net of premium tax

Eric R. Slusser, Centene’s Chief Financial Officer, stated, “We are increasing our revenue guidance, but maintaining our previous earnings per share guidance for the year.  With the acquisition of Celtic and our new Arizona contract, our revenue expectations have increased for the second half of the year.  However, we do not expect either of these to have a material contribution to earnings in 2008.  We are optimistic about the second half of the year as we continue to invest in infrastructure and execute on new and existing opportunities.  We continue to expect an overall HBR range for the full year of 82.0% to 84.0%.”

Conference Call

As previously announced, the Company will host a conference call Tuesday, July 22, 2008, at 8:00 A.M. (Eastern Time) to review the financial results for the second quarter ended June 30, 2008, and to discuss its business outlook.  Michael F. Neidorff and Eric R. Slusser will host the conference call.  Investors are invited to participate in the conference call by dialing 800-273-1254 in the U.S. and Canada, 706-679-8592 from abroad, or via a live internet broadcast on the Company's website at www.centene.com, under the Investor Relations section.  A replay will be available for on-demand listening shortly after the completion of the call until 11:59 P.M. (Eastern Time) on August 5, 2008 at the aforementioned URL, or by dialing 800-642-1687 in the U.S. and Canada, or 706-645-9291 from abroad, and entering access code 51471537.

About Centene Corporation

Centene Corporation is a leading multi-line healthcare enterprise that provides programs and related services to individuals receiving benefits under Medicaid, including the State Children’s Health Insurance Program (SCHIP), Foster Care, Supplemental Security Income (SSI) and Medicare (Special Needs Plans). The Company operates health plans in Arizona, Georgia, Indiana, New Jersey, Ohio, South Carolina, Texas and Wisconsin. In addition, the Company contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, life and health management, long-term care, managed vision, nurse triage, pharmacy benefits management and treatment compliance. Information regarding Centene is available via the Internet at www.centene.com.

The information provided in this press release contains forward-looking statements that relate to future events and future financial performance of Centene.  Subsequent events and developments may cause the Company's estimates to change.  The Company disclaims any obligation to update this forward-looking financial information in the future.  Readers are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, regulatory, competitive and other factors that may cause Centene's or its industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.  Actual results may differ from projections or estimates due to a variety of important factors, including Centene's ability to accurately predict and effectively manage health benefits and other operating expenses, competition, changes in healthcare practices, changes in federal or state laws or regulations, inflation, provider contract changes, new technologies, reduction in provider payments by governmental payors, major epidemics, disasters and numerous other factors affecting the delivery and cost of healthcare.  The expiration, cancellation or suspension of Centene's Medicaid Managed Care contracts by state governments would also negatively affect Centene.

 [Tables Follow]

Centene Corporation Reports 2008 Second Quarter Results July 22, 2008 / Page 4

CENTENE CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

		June 30,  2008				December 31, 2007
ASSETS		(Unaudited)
Current assets:
Cash and cash equivalents		$	357,488			$	268,584
Premium and related receivables			113,233				90,072
Short-term investments, at fair value (amortized cost $69,205 and $46,392, respectively)			69,524				46,269
Other current assets			38,602				41,414
Total current assets			578,847				446,339
Long-term investments, at fair value (amortized cost $252,441 and $314,681, respectively)			254,578				317,041
Restricted deposits, at fair value (amortized cost $28,023 and $27,056, respectively)			28,283				27,301
Property, software and equipment, net			157,775				138,139
Goodwill			141,009				141,030
Other intangible assets, net			12,177				13,205
Other assets			42,396				36,067
Total assets		$	1,215,065			$	1,119,122
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Medical claims liabilities		$	363,708			$	335,856
Accounts payable and accrued expenses			148,535				105,096
Unearned revenue			5,266				44,016
Current portion of long-term debt			338				971
Current liabilities of discontinued operations			200				861
Total current liabilities			518,047				486,800
Long-term debt			221,757				206,406
Other liabilities			15,493				10,869
Total liabilities			755,297				704,075
Stockholders’ equity:
Common stock, $.001 par value; authorized 100,000,000 shares; issued and outstanding 43,261,883 and 43,667,837 shares, respectively			43				44
Additional paid-in capital			222,438				221,693
Accumulated other comprehensive income:
Unrealized gain on investments, net of tax			1,722				1,571
Retained earnings			235,565				191,739
Total stockholders’ equity			459,768				415,047
Total liabilities and stockholders’ equity		$	1,215,065			$	1,119,122

Centene Corporation Reports 2008 Second Quarter Results July 22, 2008 / Page 5

 CENTENE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share data)

		Three Months Ended June 30,								Six Months Ended June 30,
		2008				2007				2008				2007
		(Unaudited)								(Unaudited)
Revenues:
Premium		$	819,409			$	687,842			$	1,592,887			$	1,312,668
Premium tax			22,192				19,874				44,823				37,690
Service			18,466				20,015				38,996				41,607
Total revenues			860,067				727,731				1,676,706				1,391,965
Expenses:
Medical costs			682,589				575,146				1,324,208				1,103,666
Cost of services			14,437				16,670				30,613				32,300
General and administrative expenses			113,199				102,007				212,482				188,474
Premium tax			22,192				19,874				44,823				37,690
Total operating expenses			832,417				713,697				1,612,126				1,362,130
Earnings from operations			27,650				14,034				64,580				29,835
Other income (expense):
Investment and other income			5,600				6,588				13,369				12,605
Interest expense			(4,065	)			(4,213	)			(8,059	)			(7,345	)
Earnings before income taxes			29,185				16,409				69,890				35,095
Income tax expense			11,146				6,234				26,314				13,323
Net earnings from continuing operations			18,039				10,175				43,576				21,772
Discontinued operations, net of income tax expense (benefit) of $101, $(5,417), $153 and $(32,197), respectively			164				7,607				250				34,221
Net earnings		$	18,203			$	17,782			$	43,826			$	55,993
Net earnings per share:
Basic:
Continuing operations		$	0.42			$	0.23			$	1.00			$	0.50
Discontinued operations			—				0.18				0.01				0.79
Basic earnings per common share		$	0.42			$	0.41			$	1.01			$	1.29
Diluted:
Continuing operations		$	0.41			$	0.23			$	0.98			$	0.49
Discontinued operations			—				0.17				0.01				0.76
Diluted earnings per common share		$	0.41			$	0.40			$	0.98			$	1.25
Weighted average number of shares outstanding:
Basic			43,375,944				43,617,360				43,457,076				43,525,848
Diluted			44,275,601				44,815,369				44,516,890				44,871,114

Centene Corporation Reports 2008 Second Quarter Results July 22, 2008 / Page 6

CENTENE CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

		Six Months Ended June 30,
		2008				2007
		(Unaudited)
Cash flows from operating activities:
Net earnings		$	43,826			$	55,993
Adjustments to reconcile net earnings to net cash provided by operating activities —
Depreciation and amortization			16,229				12,991
Stock compensation expense			7,839				7,837
Deferred income taxes			11,879				(327	)
Gain on sale of FirstGuard Missouri			—				(7,472	)
Changes in assets and liabilities —
Premium and related receivables			(23,144	)			(21,823	)
Other current assets			(4,294	)			(24,583	)
Other assets			(1,671	)			(931	)
Medical claims liabilities			27,316				15,035
Unearned revenue			(38,753	)			8,203
Accounts payable and accrued expenses			45,907				11,832
Other operating activities			1,542				3,119
Net cash provided by operating activities			86,676				59,874
Cash flows from investing activities:
Purchases of property, software and equipment			(34,581	)			(29,352	)
Purchases of investments			(172,873	)			(290,962	)
Sales and maturities of investments			210,277				196,407
Proceeds from asset sales			—				14,102
Investments in acquisitions and equity method investee, net of cash acquired			(7,818	)			(5,336	)
Net cash used in investing activities			(4,995	)			(115,141	)
Cash flows from financing activities:
Proceeds from exercise of stock options			3,029				2,651
Proceeds from borrowings			56,005				191,000
Payment of long-term debt			(41,287	)			(165,484	)
Excess tax benefits from stock compensation			2,792				797
Common stock repurchases			(13,316	)			(3,231	)
Debt issue costs			—				(5,070	)
Net cash provided by financing activities			7,223				20,663
Net increase (decrease) in cash and cash equivalents			88,904				(34,604	)
Cash and cash equivalents, beginning of period			268,584				271,047
Cash and cash equivalents, end of period		$	357,488			$	236,443
Interest paid		$	7,590			$	3,738
Income taxes paid		$	15,966			$	6,049

Centene Corporation Reports 2008 Second Quarter Results July 22, 2008 / Page 7

CENTENE CORPORATION

CONTINUING OPERATIONS SUPPLEMENTAL FINANCIAL DATA

	Q2			Q1			Q4			Q3			Q2
	2008			2008			2007			2007			2007
MEMBERSHIP
Managed Care:
Georgia	278,800			282,700			287,900			286,200			281,400
Indiana	161,700			161,300			154,600			156,300			161,700
New Jersey	55,100			56,500			57,300			58,300			59,100
Ohio	137,300			131,100			128,700			127,500			128,200
South Carolina	22,500			29,300			31,800			29,300			31,100
Texas	427,200			369,000			354,400			347,000			333,900
Wisconsin	124,800			126,900			131,900			132,700			136,100
TOTAL	1,207,400			1,156,800			1,146,600			1,137,300			1,131,500
Medicaid	866,700			862,900			848,100			841,600			846,900
SCHIP & Foster Care	267,000			216,000			224,400			223,500			216,500
SSI & Medicare	73,700			77,900			74,100			72,200			68,100
TOTAL	1,207,400			1,156,800			1,146,600			1,137,300			1,131,500
Specialty Services(a):
Arizona	99,400			97,900			99,900			99,000			95,200
Kansas	40,000			39,400			39,000			35,600			37,500
TOTAL	139,400			137,300			138,900			134,600			132,700
(a) Includes behavioral health contracts only.
REVENUE PER MEMBER(b)	$	214.63		$	215.35		$	210.34		$	201.05		$	193.09
CLAIMS(b)
Period-end inventory	336,900			393,700			312,700			265,400			281,000
Average inventory	244,800			281,600			288,700			319,900			248,200
Period-end inventory per member	0.28			0.34			0.28			0.24			0.26
(b) Revenue per member and claims information are presented for the Medicaid Managed Care segment.

Centene Corporation Reports 2008 Second Quarter Results July 22, 2008 / Page 8

	Q2			Q1			Q4			Q3			Q2
	2008			2008			2007			2007			2007
DAYS IN CLAIMS PAYABLE (c)	48.5			49.3			49.1			49.1			46.2
(c) Days in Claims Payable is a calculation of Medical Claims Liabilities at the end of the period divided by average claims expense per calendar day for such period.
CASH AND INVESTMENTS (in millions)
Regulated	$	680.9		$	651.1		$	626.2		$	593.6		$	527.9
Unregulated		29.0			25.8			33.0			45.9			65.8
TOTAL	$	709.9		$	676.9		$	659.2		$	639.5		$	593.7
DEBT TO CAPITALIZATION (d)	32.6%			32.8%			33.3%			33.1%			34.0%
(d) Debt to Capitalization is calculated as follows: total debt divided by (total debt + equity).

OPERATING RATIOS:

		Three Months Ended June 30,								Six Months Ended June 30,
		2008				2007				2008				2007
Health Benefits Ratios
Medicaid and SCHIP			81.7	%			83.2	%			80.6	%			83.9	%
SSI and Medicare			89.8				90.2				93.7				89.6
Specialty Services			85.8				76.4				85.0				77.9
Total			83.3				83.6				83.1				84.1
General & Administrative Expense Ratio			13.5	%			14.4	%			13.0	%			13.9	%

MEDICAL CLAIMS LIABILITIES (In thousands)

Four rolling quarters of the changes in medical claims liabilities are summarized as follows:

Balance, June 30, 2007		$	292,298
Incurred related to:
Current period			2,552,697
Prior period			(7,669	)
Total incurred			2,545,028
Paid related to:
Current period			2,193,031
Prior period			280,587
Total paid			2,473,618
Balance, June 30, 2008		$	363,708

Centene’s claims reserving process utilizes a consistent actuarial methodology to estimate Centene’s ultimate liability.  Any reduction in the “Incurred related to:  Prior period” claims may be offset as Centene actuarially determines “Incurred related to: Current period.”  As such, only in the absence of a consistent reserving methodology would favorable development of prior period claims liability estimates reduce medical costs.  Centene believes it has consistently applied its claims reserving methodology in each of the periods presented.