Yes, Special K does contain folic acid. Folic acid is a water-soluble B vitamin that helps the body produce and maintain new cells, particularly red blood cells. It also plays an important role in preventing birth defects of the brain and spine known as neural tube defects. As such, it's recommended to take 400 micrograms each day for women of childbearing age who are planning to become pregnant or may be pregnant. A single serving of Special K cereal provides 40% (160mcg) of the daily value for folic acid along with other essential vitamins and minerals including thiamine, riboflavin, niacin, iron and zinc.