STILWELL FINANCIAL OBTAINS $200 MILLION IN NEW FINANCING; PROCEEDS TO REPLACE SHORT-TERM BORROWINGS

Company Release - 6/28/2002 6:59 AM ET
( BW)(MO-STILWELL-FINANCIAL)(SV) Stilwell Financial Obtains $200
Million In New Financing; Proceeds to Replace Short-Term Borrowings

  Business Editors

  KANSAS CITY, Mo.--(BUSINESS WIRE)--June 28, 2002--Stilwell
Financial Inc. (NYSE:SV) has completed the sale of a $200 million
issue of seven-year senior notes. The notes carry a coupon of 7.75
percent and are non-callable. The company will use the proceeds to
retire short-term debt.
  "This issuance allows us to replace most of the borrowings on our
credit facilities with conventional financing and gives us a
simplified, laddered debt structure," explained Daniel P. Connealy,
Stilwell's vice president and chief financial officer.
  The lead underwriters for the debt offering were JP Morgan and
Salomon Smith Barney.

  About Stilwell Financial Inc.

  Stilwell Financial Inc. is a diversified, global financial
services company with subsidiaries and affiliates operating in North
America, Europe and Asia. Stilwell owns approximately 92 percent of
Janus Capital Management LLC, 90 percent of Berger Financial Group
LLC, 81 percent of Nelson Money Managers Plc and 33 percent of DST
Systems, Inc. (NYSE:DST).
  A prospectus relating to the offering may be obtained from Tim
Christian, Salomon Smith Barney Inc., 212-723-6104 or Joy Dunphy,
JPMorgan, 212-834-4533.

  This press release includes statements concerning potential future
events involving Stilwell Financial Inc. that could differ materially
from the events that actually occur. The differences could be caused
by a number of factors including those factors identified in
Stilwell's Annual Report on Form 10-K for the year ended December 31,
2001, on file with the Securities and Exchange Commission (Commission
file no. 001-15253). Stilwell will not update any forward-looking
statements made in this press release to reflect future events or
developments.

  --30--RGB/dx*  jc/se atr/se

  CONTACT: Stilwell Financial Inc.
  Media Contact:
  Peggy Landon, 816/218-2455
  Investor Contact:
  Daniel P. Connealy, 816/218-2412

  KEYWORD: MISSOURI
  INDUSTRY KEYWORD: BANKING
  SOURCE: Stilwell Financial Inc.

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