Janus Announces June Assets under Management; Net Outflows Improve, Fund Performance Remains Strong Second-Quarter Earnings Presentation Scheduled for Thursday, July 22

Company Release - 7/12/2004 4:05 PM ET

DENVER--(BUSINESS WIRE)--July 12, 2004--For the month ended June 30, 2004, Janus Capital Group Inc. (NYSE: JNS) reported total assets under management of approximately $135.4 billion, which is down 0.3% from the prior month's assets of $135.8 billion. Firmwide average assets under management during June were approximately $135.2 billion compared with May's average assets of $135.1 billion. Long-term (non-money market) average assets in June were $123.4 billion.

Total long-term net outflows in June were $1.4 billion, including approximately $320 million from institutional clients.

Janus continued to deliver strong fund performance in June. As of June 30, approximately 70% of Janus retail funds were in the top half of their Lipper categories on a 1-year basis (including approximately 57% in the 1st quartile) and 55% were in the top half of their Lipper categories on a 3-year basis based on total returns. In addition, for the first time since January 2000, all seven of Janus' domestic retail growth funds ranked in Lipper's top quartile on a 1-year basis based on total returns (see Exhibit 2). These seven funds represent approximately $36.2 billion of the company's assets under management as of June 30, 2004.

"This is good news on two important fronts," said Chairman and CEO Steve Scheid. "Equity and fixed-income outflows are at the best level we've seen in the last 10 months. And as our fund performance continues to improve, we're confident that the outlook will keep getting brighter."

Excluding money markets, nearly half of the company's June outflows came from Janus Worldwide Fund and its related portfolios. Scheid said he's optimistic that the recent appointment of Jason Yee as portfolio manager of Janus Worldwide will help improve fund performance and flows. As portfolio manager of Janus Global Opportunities Fund, Yee has delivered stellar results and earned an overall five-star rating from Morningstar out of 273 world stock funds based on risk-adjusted returns as of June 30, 2004. (The Overall Morningstar Rating(TM) for a fund is derived from a weighted average of the performance figures associated with its three-, five- and 10-year - if applicable - Morningstar Rating(TM) metrics.)

For the one-year period ended June 30, 2004, Janus Global Opportunities Fund outpaced its entire Lipper peer group, finishing 1st out of 320 global funds based on total returns. For the same three-year period, the fund beat 95% of its peers, ranking 11th best out of 259 global funds based on total returns.

The attached Exhibit 1 shows assets and flows by investment discipline for April, May, and June. Exhibit 2 provides detailed Lipper rankings for Janus retail funds (Janus Investment Funds).

Second-Quarter Financial Results

Janus Capital Group will release its second-quarter financial results before the market opens on Thursday, July 22. The company will discuss its results during a conference call July 22 at 11 a.m. Eastern Daylight Time. The call-in number will be 877-301-7574. (Anyone outside the U.S. or Canada should call 706-643-3623.) The slides used during the presentation will be available in the investor relations section of the Janus Capital Group Web site (www.janus.com) beginning July 22. For those unable to join the conference call at the scheduled time, an audio replay will be available on www.janus.com.

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.

Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus containing this and other information, please call Janus at 1-800-525-3713 or download the file from janus.com. Read it carefully before you invest or send money.

    Past performance is no guarantee of future results.

    Funds distributed by Janus Distributors LLC (07/04)

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating(TM) based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of the funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Janus Global Opportunities Fund was rated against the following numbers of U.S.-domiciled world stock funds over the following time period: 273 funds in the last three years. With respect to these world stock funds, Janus Global Opportunities received a Morningstar Rating(TM) of 5 stars for the three-year period.

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.

Funds not ranked by Lipper are not included in percentages disclosed on page 1. Money market funds, all share classes of Janus International Equity and Janus Focused Value Funds, Janus World Funds, and sub-advised funds are not included in retail funds.

Exhibit 1
                       JANUS CAPITAL GROUP INC.
                ASSETS & FLOWS BY INVESTMENT DISCIPLINE
                         (dollars in billions)

                                                              Quarter
                                     One Month Ended           Ended
                              ------------------------------ ---------
                              April 30,   May 31,   June 30, June 30,
                                 2004       2004      2004      2004
                              ---------- --------- --------- ---------
Growth Equity
  Beginning of period assets      $80.8     $77.4     $74.8     $80.8
  Sales                             0.8       0.6       0.5       1.9
  Redemptions                       2.3       4.6       2.0       8.9
                              ---------- --------- --------- ---------
  Net Sales (redemptions)          (1.5)     (4.0)     (1.5)     (7.0)
  Market appreciation              (1.9)      1.4       0.5         -
                              ---------- --------- --------- ---------
  End of period assets            $77.4     $74.8     $73.8     $73.8
                              ========== ========= ========= =========

Mathematical/Quantitative
  Beginning of period assets      $15.5     $16.5     $16.7     $15.5
  Sales                             1.4       0.2       0.4       2.0
  Redemptions                       0.2       0.3       0.1       0.6
                              ---------- --------- --------- ---------
  Net Sales (redemptions)           1.2      (0.1)      0.3       1.4
  Market appreciation              (0.2)      0.3       0.5       0.6
                              ---------- --------- --------- ---------
  End of period assets            $16.5     $16.7     $17.5     $17.5
                              ========== ========= ========= =========

Fixed Income
  Beginning of period assets       $6.7      $6.3      $6.1      $6.7
  Sales                             0.1       0.1       0.1       0.3
  Redemptions                       0.3       0.3       0.2       0.8
                              ---------- --------- --------- ---------
  Net Sales (redemptions)          (0.2)     (0.2)     (0.1)     (0.5)
  Market appreciation              (0.2)        -       0.0      (0.2)
                              ---------- --------- --------- ---------
  End of period assets             $6.3      $6.1      $6.0      $6.0
                              ========== ========= ========= =========

Core/Blend
  Beginning of period assets      $19.9     $19.1     $17.7     $19.9
  Sales                             0.2       0.2       0.2       0.6
  Redemptions                       0.5       1.8       0.4       2.7
                              ---------- --------- --------- ---------
  Net Sales (redemptions)          (0.3)     (1.6)     (0.2)     (2.1)
  Market appreciation              (0.5)      0.2       0.2      (0.1)
                              ---------- --------- --------- ---------
  End of period assets            $19.1     $17.7     $17.7     $17.7
                              ========== ========= ========= =========

Value
  Beginning of period assets       $9.1      $8.9      $9.0      $9.1
  Sales                             0.3       0.2       0.3       0.8
  Redemptions                       0.2       0.2       0.2       0.6
                              ---------- --------- --------- ---------
  Net Sales (redemptions)           0.1         -       0.1       0.2
  Market appreciation              (0.3)      0.1       0.2       0.0
                              ---------- --------- --------- ---------
  End of period assets             $8.9      $9.0      $9.3      $9.3
                              ========== ========= ========= =========

Money Market
  Beginning of period assets      $13.0     $12.1     $11.5     $13.0
  Sales                             6.1       6.4       9.0      21.5
  Redemptions                       7.0       7.0       9.4      23.4
                              ---------- --------- --------- ---------
  Net Sales (redemptions)          (0.9)     (0.6)     (0.4)     (1.9)
  Market appreciation                 -         -         -         -
                              ---------- --------- --------- ---------
  End of period assets            $12.1     $11.5     $11.1     $11.1
                              ========== ========= ========= =========

Total
  Beginning of period assets     $145.0    $140.3    $135.8    $145.0
  Sales                             8.9       7.7      10.5      27.1
  Redemptions                      10.5      14.2      12.3      37.0
                              ---------- --------- --------- ---------
  Net Sales (redemptions)          (1.6)     (6.5)     (1.8)     (9.9)
  Market appreciation              (3.1)      2.0       1.4       0.3
                              ---------- --------- --------- ---------
  End of period assets           $140.3    $135.8    $135.4    $135.4
                              ========== ========= ========= =========

Total Excluding Money Markets
  Beginning of period assets     $132.0    $128.2    $124.3    $132.0
  Sales                             2.8       1.3       1.5       5.6
  Redemptions                       3.5       7.2       2.9      13.6
                              ---------- --------- --------- ---------
  Net Sales (redemptions)          (0.7)     (5.9)     (1.4)     (8.0)
  Market appreciation              (3.1)      2.0       1.4       0.3
                              ---------- --------- --------- ---------
  End of period assets           $128.2    $124.3    $124.3    $124.3
                              ========== ========= ========= =========


Total Excluding
 Mathematical/Quantitative & Money
 Markets
  Beginning of period assets     $116.5    $111.7    $107.6    $116.5
  Sales                             1.4       1.1       1.1       3.6
  Redemptions                       3.3       6.9       2.8      13.0
                              ---------- --------- --------- ---------
  Net Sales (redemptions)          (1.9)     (5.8)     (1.7)     (9.4)
  Market appreciation              (2.9)      1.7       0.9      (0.3)
                              ---------- --------- --------- ---------
  End of period assets           $111.7    $107.6    $106.8    $106.8
                              ========== ========= ========= =========
Exhibit 2
Janus Investment Funds               (a)Lipper Rankings Based
                                  on Total Returns as of 6/30/04
                            ------------------------------------------
                              1-Year     3-Year     5-Year   10-Year
                            ---------- ---------- ---------- ---------
                              Rank /     Rank /     Rank /    Rank /
               Lipper         Total      Total      Total     Total
                Category       Funds      Funds      Funds     Funds
               -------------------------------------------------------
Growth Funds
======================================================================
Janus          Mid-Cap
 Enterprise     Growth Funds
 Fund                        92 / 494  256 / 396  232 / 259   55 / 94
----------------------------------------------------------------------
Janus Fund     Large-Cap
                Growth Funds 62 / 612  340 / 507  206 / 355  42 / 111
----------------------------------------------------------------------
Janus Mercury  Large-Cap
 Fund           Growth Funds107 / 612  346 / 507  184 / 355   2 / 111
----------------------------------------------------------------------
Janus Olympus  Large-Cap
 Fund           Growth Funds 61 / 612  204 / 507  122 / 355     -
----------------------------------------------------------------------
Janus Orion    Multi-Cap
 Fund           Growth Funds 43 / 434   22 / 342      -         -
----------------------------------------------------------------------
Janus Twenty   Large-Cap
 Fund(a)        Growth Funds 38 / 612  119 / 507  249 / 355   3 / 111
----------------------------------------------------------------------
Janus Venture  Small-Cap
 Fund(a)        Growth Funds 46 / 520  110 / 422  178 / 283   33 / 77
----------------------------------------------------------------------
Core Funds
======================================================================
Janus          Balanced
Balanced Fund   Funds       401 / 527  156 / 435  130 / 363  12 / 136
----------------------------------------------------------------------
Janus Core     Large-Cap
 Equity Fund    Core Funds  103 / 979  102 / 803   58 / 603     -
----------------------------------------------------------------------
Janus Growth   Large-Cap
 and Income     Core Funds
 Fund                       403 / 979  377 / 803   84 / 603   6 / 211
----------------------------------------------------------------------
Janus Risk-    Multi-Cap
 Managed Stock  Core Funds
 Fund                        67 / 618      -          -         -
----------------------------------------------------------------------
Janus Special  Multi-Cap
 Equity Fund    Core Funds   14 / 618   90 / 475      -         -
----------------------------------------------------------------------
Income Funds
======================================================================
Janus Federal  General Muni
 Tax-Exempt     Debt Funds
 Fund                       294 / 295  147 / 267  184 / 231  87 / 124
----------------------------------------------------------------------
Janus          Intermediate
Flexible Income Inv Grade
 Fund           Debt Funds  194 / 442   39 / 343  160 / 255  10 / 114
----------------------------------------------------------------------
Janus High-    High Current
 Yield Fund     Yield Funds 340 / 417  193 / 340   46 / 269     -
----------------------------------------------------------------------
Janus Short-   Short
 Term Bond Fund Investment
                Grade Debt
                Funds        11 / 170   53 / 119    36 / 97   18 / 49
----------------------------------------------------------------------
International/Global
Funds
======================================================================
Janus          Health/
Global Life    Biotechnology
Sciences Fund   Funds        29 / 194   77 / 150    29 / 56     -
----------------------------------------------------------------------
Janus Global
 Opportunities
 Fund          Global Funds   1 / 320   11 / 259      -         -
----------------------------------------------------------------------
Janus Global   Science &
 Technology     Technology
 Fund           Funds       174 / 313  150 / 272   50 / 102     -
----------------------------------------------------------------------
Janus          International
Overseas Fund   Funds       477 / 844  582 / 690  159 / 509   7 / 140
----------------------------------------------------------------------
Janus Worldwide
 Fund(1)       Global Funds 311 / 320  254 / 259  146 / 182   19 / 50
----------------------------------------------------------------------
Value Funds
======================================================================
Janus Mid Cap
 Value Fund -  MidCap Value
 Inv(2)         Funds        52 / 197   34 / 134     7 / 91     -
----------------------------------------------------------------------
Janus Small Cap
 Value Fund -  SmallCap
 Inv.(a)(2,3)   Value Funds 150 / 225  136 / 160   57 / 124     -
----------------------------------------------------------------------
                         Percent of Retail Funds per Lipper Quartile
                                    Based on Total Returns
                        ----------------------------------------------
                          1-Year       3-Year     5-Year     10-Year
----------------------------------------------------------------------
1st Quartile                  56.6%       27.3%      21.0%       50.0%
2nd Quartile                  13.0        27.3       31.6        33.3
3rd Quartile                  13.0        31.8       31.6        16.7
4th Quartile                  17.4        13.6       15.8         0.0
----------------------------------------------------------------------

Past performance is no guarantee of future results.

Lipper Inc. - A Reuters Company, is a nationally recognized
organization that ranks the performance of mutual funds within a
universe of funds that have similar investment objectives. Rankings
are historical with capital gains and dividends reinvested.

Some funds may have experienced poor or negative short-term
performance. Call 1-800-525-3713 for current month end performance.

A fund's performance may be affected by risks that include those
associated with non-diversification, investments in foreign
securities, non-investment grade debt securities, undervalued
companies or companies with a relatively small market capitalization.
Please see a Janus prospectus for more detailed information.

A fund's performance for very short time periods may not be indicative
of future performance.

1. Effective July 1, 2004, Jason Yee has been appointed portfolio
   manager of the Janus Worldwide portfolios. Laurence Chang will no
   longer be the portfolio manager.

2. Rating is for the investor share class only; other classes may have
   different performance characteristics.

3. On 2/27/04, Todd Perkins joined Bob Perkins and Tom Perkins as a
   co-portfolio manager of Janus Small Cap Value Fund.

(a) Closed to new investors.
    CONTACT: Janus Capital Group Inc.
             Investor Contact:
             Steve Belgrad, 303-394-7706
                or
             Media Contact:
             Shelley Peterson, 303-316-5625

    SOURCE: Janus Capital Group Inc.