Janus Announces April Assets Under Management; Repurchase of Outstanding LYONS Completed; Executives to Speak at Investor Conference

Company Release - 5/6/2004 7:16 PM ET

DENVER--(BUSINESS WIRE)--May 6, 2004--For the month ended April 30, 2004, Janus Capital Group Inc. (NYSE:JNS) reported total assets under management of approximately $140.3 billion, which is down 3.2% from the prior month's assets of $145.0 billion. Firmwide average assets under management during April were approximately $145.6 billion compared with March's average assets of $144.8 billion, a 0.6% increase.

Long-term assets (non-money market) were approximately $128.2 billion at the end of April versus $132.0 billion at the end of March, a decrease of 2.9%. Long-term average assets in April were $132.9 billion, which is up 1.1% from March's long-term average assets of $131.4 billion.

Long-term asset net outflows for the month of April were $0.7 billion compared to net outflows of $2.6 billion in the month of March. This differs from the Company's earlier estimate as certain institutional accounts redeemed on the first day of May rather than the last day of April as initially expected. The total estimate for April and May net outflows from institutional accounts previously disclosed of $4.3 billion is now expected to occur as $0.8 billion for April, $2.8 billion for May, and $0.7 billion for June.

The attached exhibit breaks out assets and flows by investment discipline for February, March, and April.

Janus Completes the Repurchase of all Outstanding LYONS

Janus announced today that the entire remaining stake of approximately $84.0 million in Liquid Yield Option Notes ("LYONS") was purchased for cash on April 30, 2004. The LYONS were issued on April 30, 2001, and allowed the holders to require the Company to purchase all or a portion of their holding at the accreted value thereof on the one-, three- and five-year anniversaries of their issuance and every five years thereafter. As a result of the repurchase, Janus reduced its consolidated debt to approximately $767.8 million as of April 30, 2004. If, as expected, Janus' wholly owned subsidiary Capital Group Partners exercises its call option to purchase $445 million of newly issued 2014 notes on May 19, 2004, Janus will further reduce its consolidated debt to approximately $378 million.

Executives to Speak at Investor Conference

Two Janus executives -- Loren Starr (Chief Financial Officer) and Steve Belgrad (Vice President, Finance & Strategy and Treasurer) -- are scheduled to speak at the UBS Global Financial Services Conference in New York on May 10, 2004, at 2:15 p.m. EDT.

Presentation materials will be available on the Janus Capital Group Investor Relations site at http://ir.janus.com beginning at 1:45 p.m. EDT on May 10. The audio from their presentations will be broadcast live on the conference Web site address:

http://event.streamx.us/event/default.asp?event=ubs20040510

    About Janus Capital Group Inc.

Based in Denver, Colorado, Janus Capital Group Inc. is a leading asset manager offering individual investors and institutional clients complementary asset management disciplines through the firm's global distribution network.

Janus Capital Group consists of Janus Capital Management LLC, Enhanced Investment Technologies, LLC (INTECH), Bay Isle Financial LLC and Capital Group Partners, Inc. Janus Capital Group owns 30% of Perkins, Wolf, McDonnell and Company, LLC and approximately 9% of DST Systems, Inc.

Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus containing this and other information, please call Janus at 800-525-3713 or download the file from janus.com. Read it carefully before you invest or send money.

Funds distributed by Janus Distributors LLC (05/04)

This press release includes statements concerning potential future events involving Janus Capital Group 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 Janus' Annual Report on Form 10-K for the year ended December 31, 2003, on file with the Securities and Exchange Commission (Commission file no. 001-15253). Janus will not update any forward-looking statement made in this press release to reflect future events or developments.

                                Exhibit

                       JANUS CAPITAL GROUP INC.
                ASSETS & FLOWS BY INVESTMENT DISCIPLINE
                         (dollars in billions)

                                               One Month Ended
                                          ----------------------------
                                          Feb. 29, March 31, April 30,
                                            2004     2004     2004
                                            ----     ----     ----
Growth Equity
  Beginning of period assets               $83.9    $82.4    $80.8
  Sales                                      0.7      0.8      0.8
  Redemptions                                2.6      2.7      2.3
                                            ----     ----     ----
  Net Sales (redemptions)                   (1.9)    (1.9)    (1.5)
  Market appreciation                        0.4      0.3     (1.9)
                                            ----     ----     ----
  End of period assets                     $82.4    $80.8    $77.4
                                            ====     ====     ====

Mathematical/Quantitative
  Beginning of period assets               $14.7    $15.4    $15.5
  Sales                                      0.5      0.4      1.4
  Redemptions                                0.1      0.3      0.2
                                            ----     ----     ----
  Net Sales (redemptions)                    0.4      0.1      1.2
  Market appreciation                        0.3        -     (0.2)
                                            ----     ----     ----
  End of period assets                     $15.4    $15.5    $16.5
                                            ====     ====     ====

Fixed Income
  Beginning of period assets                $6.9     $6.8     $6.7
  Sales                                      0.2      0.2      0.1
  Redemptions                                0.3      0.4      0.3
                                            ----     ----     ----
  Net Sales (redemptions)                   (0.1)    (0.2)    (0.2)
  Market appreciation                          -      0.1     (0.2)
                                            ----     ----     ----
  End of period assets                      $6.8     $6.7     $6.3
                                            ====     ====     ====

Core/Blend
  Beginning of period assets               $20.5    $20.4    $19.9
  Sales                                      0.2      0.2      0.2
  Redemptions                                0.5      0.9      0.5
                                            ----     ----     ----
  Net Sales (redemptions)                   (0.3)    (0.7)    (0.3)
  Market appreciation                        0.2      0.2     (0.5)
                                            ----     ----     ----
  End of period assets                     $20.4    $19.9    $19.1
                                            ====     ====     ====

Value
  Beginning of period assets                $8.6     $9.0     $9.1
  Sales                                      0.3      0.3      0.3
  Redemptions                                0.4      0.2      0.2
                                            ----     ----     ----
  Net Sales (redemptions)                   (0.1)     0.1      0.1
  Market appreciation                        0.5        -     (0.3)
                                            ----     ----     ----
  End of period assets                      $9.0     $9.1     $8.9
                                            ====     ====     ====

Money Market
  Beginning of period assets               $14.2    $13.5    $13.0
  Sales                                      8.3      7.1      6.1
  Redemptions                                9.0      7.6      7.0
                                            ----     ----     ----
  Net Sales (redemptions)                   (0.7)    (0.5)    (0.9)
  Market appreciation                          -        -        -
                                            ----     ----     ----
  End of period assets                     $13.5    $13.0    $12.1
                                            ====     ====     ====

Total
  Beginning of period assets              $148.8   $147.5   $145.0
  Sales                                     10.2      9.0      8.9
  Redemptions                               12.9     12.1     10.5
                                           -----    -----    -----
  Net Sales (redemptions)                   (2.7)    (3.1)    (1.6)
  Market appreciation                        1.4      0.6     (3.1)
                                           -----    -----    -----
  End of period assets                    $147.5   $145.0   $140.3
                                           =====    =====    =====

Total Excluding Money Markets
  Beginning of period assets              $134.6   $134.0   $132.0
  Sales                                      1.9      1.9      2.8
  Redemptions                                3.9      4.5      3.5
                                           -----    -----    -----
  Net Sales (redemptions)                   (2.0)    (2.6)    (0.7)
  Market appreciation                        1.4      0.6     (3.1)
                                           -----    -----    -----
  End of period assets                    $134.0   $132.0   $128.2
                                           =====    =====    =====


Total Excluding Mathematical/Quantitative
 & Money Markets
  Beginning of period assets              $119.9   $118.6   $116.5
  Sales                                      1.4      1.5      1.4
  Redemptions                                3.8      4.2      3.3
                                           -----    -----    -----
  Net Sales (redemptions)                   (2.4)    (2.7)    (1.9)
  Market appreciation                        1.1      0.6     (2.9)
                                           -----    -----    -----
  End of period assets                    $118.6   $116.5   $111.7
                                           =====    =====    =====
    CONTACT: Janus Capital Group Inc.
             Investor Contact:
             Steve Belgrad, 303-394-7706
                 or
             Media Contact:
             Jane Ingalls, 303-394-7311

    SOURCE: Janus Capital Group Inc.