Janus Announces Higher Assets Under Management in October; Company Executives to Speak at Investor Conference

Company Release - 11/8/2004 6:25 PM ET

DENVER--(BUSINESS WIRE)--Nov. 8, 2004--For the month ended October 31, 2004, Janus Capital Group Inc. (NYSE: JNS) reported total assets under management of approximately $131.3 billion, which is up 0.8% from the prior month's assets of $130.2 billion. Firmwide average assets under management during October were approximately $131.0 billion compared with September's average assets of $129.7 billion, an increase of 1.0%. Excluding money markets, average assets in October were $118.4 billion.

During October, long-term (non-money market) net outflows for Janus, including its INTECH subsidiary, were approximately $0.9 billion. INTECH, which uses a mathematical, risk-managed investment strategy, continued to show strength last month, recording net inflows of approximately $0.9 billion.

Janus' relative fund performance remained strong in October. As of October 31, approximately 61% of the Janus Investment Fund (JIF) retail funds were in the top half of their Lipper categories on a 1-year basis based on total returns. In addition, more than 63% of those funds were in the top half of their Lipper categories on a 3-year basis based on total returns at the end of October.

The attached Exhibit 1 shows Janus' assets and flows by investment discipline during August, September and October. Exhibit 2 provides detailed Lipper rankings for the JIF funds.

Executives to Speak at Conference

Two top executives of Janus Capital Group -- President and Chief Investment Officer Gary Black and Chief Financial Officer Loren Starr -- are scheduled to speak at the Merrill Lynch Banking and Financial Services Conference in New York on Monday, November 15, at 3:30 p.m. EST. Presentation materials and a link to the live Web cast will be available on the Janus Capital Group Investor Relations site at http://ir.janus.com approximately one hour prior to the presentation. Any questions concerning the presentation should be directed to Janus' Corporate Communications department at 800-628-1577.

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 (11/04)

This presentation 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' Registration Statement on Form S-4/A filed on September 20, 2004 and in our 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). Many of these factors are beyond the control of the company and its management. Any forward-looking statements contained in this release are as of the date on which such statements were made. The company assumes no duty to update them, even if experience, unexpected events, or future changes make it clear that any projected results express or implied therein will not be realized.

Exhibit 1

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


                                  ------------------------------------
                                   August 31,    Sept. 30,    Oct. 31,
                                     2004         2004         2004
                                  ---------- ------------- -----------
Growth Equity
    Beginning of period assets        $68.1         $66.2       $66.7
    Sales                               0.3           0.3         0.3
    Redemptions                         1.8           1.3         1.8
                                  ---------- ------------- -----------
    Net Sales (redemptions)            (1.5)         (1.0)       (1.5)
    Market appreciation                (0.4)          1.6         1.1
                                  ---------- ------------- -----------
    End of period assets              $66.2         $66.7       $66.3
                                  ========== ============= ===========

Mathematical/Quantitative
    Beginning of period assets        $17.5         $17.9       $20.1
    Sales                               0.5           1.7         0.9
    Redemptions                           -           0.1           -
                                  ---------- ------------- -----------
    Net Sales (redemptions)             0.4           1.6         0.9
    Market appreciation                   -           0.6         0.2
                                  ---------- ------------- -----------
    End of period assets              $17.9         $20.1       $21.2
                                  ========== ============= ===========

Fixed Income
    Beginning of period assets         $5.9          $5.8        $5.8
    Sales                               0.1           0.1         0.1
    Redemptions                         0.2           0.1         0.1
                                  ---------- ------------- -----------
    Net Sales (redemptions)            (0.1)            -           -
    Market appreciation                 0.1             -         0.1
                                  ---------- ------------- -----------
    End of period assets               $5.8          $5.8        $5.9
                                  ========== ============= ===========

Core/Blend
    Beginning of period assets        $16.9         $16.6       $16.8
    Sales                               0.1           0.1         0.1
    Redemptions                         0.4           0.3         0.4
                                  ---------- ------------- -----------
    Net Sales (redemptions)            (0.2)         (0.2)       (0.2)
    Market appreciation                   -           0.3         0.3
                                  ---------- ------------- -----------
    End of period assets              $16.6         $16.8       $16.9
                                  ========== ============= ===========

Value
    Beginning of period assets         $9.4          $9.5        $8.9
    Acquistions (dispositions)            -          (0.6)          -
    Sales                               0.2           0.2         0.2
    Redemptions                         0.2           0.3         0.2
                                  ---------- ------------- -----------
    Net Sales (redemptions)               -          (0.1)          -
    Market appreciation                 0.1           0.2         0.1
                                  ---------- ------------- -----------
    End of period assets               $9.5          $8.9        $9.0
                                  ========== ============= ===========

Money Market
    Beginning of period assets        $11.4         $11.8       $11.8
    Sales                               6.6           6.5         5.5
    Redemptions                         6.2           6.5         5.2
                                  ---------- ------------- -----------
    Net Sales (redemptions)             0.4             -         0.3
    Market appreciation                   -             -           -
                                  ---------- ------------- -----------
    End of period assets              $11.8         $11.8       $12.0
                                  ========== ============= ===========

Total
    Beginning of period assets       $129.0        $127.8      $130.2
    Acquistions (dispositions)            -          (0.6)          -
    Sales                               7.9           8.9         7.3
    Redemptions                         8.9           8.7         7.8
                                  ---------- ------------- -----------
    Net Sales (redemptions)            (1.0)          0.2        (0.5)
    Market appreciation                (0.3)          2.8         1.7
                                  ---------- ------------- -----------
    End of period assets             $127.8        $130.2      $131.3
                                  ========== ============= ===========

Total Excluding Money Markets
    Beginning of period assets       $117.7        $116.0      $118.4
    Acquistions (dispositions)            -          (0.6)          -
    Sales                               1.3           2.5         1.8
    Redemptions                         2.7           2.2         2.6
                                  ---------- ------------- -----------
    Net Sales (redemptions)            (1.4)          0.2        (0.9)
    Market appreciation                (0.3)          2.8         1.7
                                  ---------- ------------- -----------
    End of period assets             $116.0        $118.4      $119.3
                                  ========== ============= ===========

Total Excluding
 Mathematical/Quantitative &
 Money Markets
    Beginning of period assets       $100.2         $98.1       $98.3
    Acquistions (dispositions)            -          (0.6)          -
    Sales                               0.8           0.8         0.8
    Redemptions                         2.6           2.1         2.6
                                  ---------- ------------- -----------
    Net Sales (redemptions)            (1.9)         (1.4)       (1.8)
    Market appreciation                (0.3)          2.2         1.6
                                  ---------- ------------- -----------
    End of period assets              $98.1         $98.3       $98.1
                                  ========== ============= ===========

    Each line has been rounded on the schedule individually to
increase the accuracy of the amounts presented. Therefore totals and
subtotals may not foot.

Exhibit 2
Janus Investment Funds
                                        Lipper Rankings Based
                                   on Total Returns as of 10/31/04
                               ---------------------------------------
                                     1-Year              3-Year
                               ------------------- -------------------
                               Percentile  Rank/     Percentile  Rank/
                                 Rank(%)   Total       Rank(%)   Total
                                           Funds                 Funds
Growth Funds        Lipper
                   Category
 ---------------------------------------------------------------------
 Janus
  Enterprise       Mid-Cap
  Fund              Growth Funds      10   46/506         48  192/407
 Janus Fund        Large-Cap
                    Growth Funds      77  499/655         32  164/526
 Janus Mercury     Large-Cap
  Fund              Growth Funds       8   47/655         34  175/526
 Janus Olympus     Multi-Cap
  Fund              Growth Funds      59  252/432         50  174/353
 Janus Orion       Multi-Cap
  Fund              Growth Funds       9   35/432         15   53/353
 Janus Twenty      Large-Cap
  Fund(a)             Growth Funds     1    1/655         12   59/526
 Janus Venture     Small-Cap
  Fund(a)             Growth Funds    20   99/515         11   43/421
 ---------------------------------------------------------------------
 Core Funds
 ---------------------------------------------------------------------
 Janus
  Balanced Fund    Balanced Funds     52  283/552         51  227/450
 Janus Core        Large-Cap
  Equity Fund       Core Funds         9   78/933         10   74/784
 Janus Growth
  and Income       Large-Cap
  Fund              Core Funds        27  248/933         42  327/784
 Janus
  Risk-Managed     Multi-Cap
  Stock Fund        Core Funds         4   27/701          -        -
 Janus
  Contrarian       Multi-Cap
  Fund(1)           Core Funds         1    2/701          3   15/506
 ---------------------------------------------------------------------
 Income Funds
 ---------------------------------------------------------------------
 Janus
  Federal
  Tax-Exempt       General Muni
  Fund              Debt Funds        85  250/295         69  183/265
 Janus
  Flexible         Intermediate
  Income            Inv Grade
  Fund              Debt Funds        46  206/449         11   37/357
 Janus High-       High Current
  Yield Fund        Yield Funds       59  244/419         71  244/347
 Janus Short-      Short
  Term Bond         Investment
  Fund              Grade Debt
                    Funds              7   13/192         26   33/126
 ---------------------------------------------------------------------
 International/Global Funds
 ---------------------------------------------------------------------
 Janus Global
  Life             Health/
  Sciences          Biotechnology
  Fund              Funds             13   24/194         55   83/152
 Janus Global
  Opportunities
  Fund             Global Funds       55  170/313         15   36/248
 Janus Global      Science &
  Technology        Technology
  Fund              Funds             78  243/314         66  186/282
 Janus
  Overseas         International
  Fund              Funds             80  679/858         67  471/704
 Janus
  Worldwide
   Fund            Global Funds       99  310/313         98  244/248
 ---------------------------------------------------------------------
 Value Funds
 ---------------------------------------------------------------------
 Janus
  Mid Cap
  Value Fund -     Mid-Cap
  Inv(2)             Value Funds      32   71/228         31   50/164
 Janus Small
  Cap Value
  Fund -           Small-Cap
  Inv.(a)(2)         Core Funds       30  164/550         51  227/446
 ---------------------------------------------------------------------


 Janus Investment Funds
                                        Lipper Rankings Based
                                   on Total Returns as of 10/31/04
                               ---------------------------------------
                                     5-Year              10-Year
                               ------------------- -------------------
                                Percentile  Rank/    Percentile  Rank/
                                 Rank (%)   Total      Rank (%)  Total
                                            Funds                Funds
 Growth Funds       Lipper
                   Category
 ---------------------------------------------------------------------
 Janus
  Enterprise       Mid-Cap
  Fund              Growth Funds      94  247/262         65   66/102
 Janus Fund        Large-Cap
                    Growth Funds      66  256/389         35   43/122
 Janus Mercury     Large-Cap
  Fund              Growth Funds      65  252/389          8    9/122
 Janus Olympus     Multi-Cap
  Fund              Growth Funds      68  141/209          -        -
 Janus Orion       Multi-Cap
  Fund              Growth Funds       -        -          -        -
 Janus Twenty      Large-Cap
  Fund(a)           Growth Funds      77  297/389          1    1/122
 Janus Venture     Small-Cap
  Fund(a)           Growth Funds      78  224/288         38    30/79
 ---------------------------------------------------------------------
 Core Funds
 ---------------------------------------------------------------------
 Janus
  Balanced Fund    Balanced Funds     45  163/366          8   11/153
 Janus Core        Large-Cap
  Equity Fund       Core Funds        18  104/590          -        -
 Janus Growth
  and Income       Large-Cap
  Fund              Core Funds        38  223/590          4    7/217
 Janus
  Risk-Managed     Multi-Cap
  Stock Fund        Core Funds         -        -          -        -
 Janus
  Contrarian       Multi-Cap
  Fund(1)           Core Funds         -        -          -        -
 ---------------------------------------------------------------------
 Income Funds
 ---------------------------------------------------------------------
 Janus
  Federal
  Tax-Exempt       General Muni
  Fund              Debt Funds        79  180/228         73   94/128
 Janus
  Flexible         Intermediate
  Income            Inv Grade
  Fund              Debt Funds        57  146/257         10   12/120
 Janus High-       High Current
  Yield Fund        Yield Funds       15   41/275          -        -
 Janus Short-      Short
  Term             Investment
  Bond             Grade Debt
  Fund              Funds             33    32/96         33    18/55
 ---------------------------------------------------------------------
 International/Global Funds
 ---------------------------------------------------------------------
 Janus Global
  Life             Health/
  Sciences          Biotechnology
  Fund              Funds             59    38/64          -        -
 Janus Global
  Opportunities
  Fund             Global Funds       -        -          -        -
 Janus Global      Science &
  Technology        Technology
  Fund              Funds             61   75/123          -        -
 Janus
  Overseas         International
  Fund              Funds             38  190/509          4    6/155
 Janus
  Worldwide
   Fund            Global Funds       87  150/173         40    22/55
 ---------------------------------------------------------------------
 Value Funds
 ---------------------------------------------------------------------
 Janus
  Mid Cap
  Value Fund -     Mid-Cap
  Inv(2)            Value Funds        5    5/105          -        -
 Janus Small
  Cap Value
  Fund -            Small-Cap
  Inv.(a)(2)         Core Funds       25   77/314          -        -
 ---------------------------------------------------------------------

                          Percent of JIF Funds per Lipper Quartile
                                   based on Total Returns
                      ------------------------------------------------
                      1-Year       3-Year         5-Year      10-Year
 ---------------------------------------------------------------------
 1st Quartile         43.5%         31.8%          21.1%         50.0%
 2nd Quartile         17.4          31.8           21.1          33.3
 3rd Quartile         17.4          31.8           31.6          16.7
 4th Quartile         21.7           4.6           26.2           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.

Funds not ranked by Lipper are not included in percentages disclosed on page 1.

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.

1. Effective September 30, 2004, Janus Special Equity Fund changed its

name to Janus Contrarian Fund.

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

different performance characteristics.

(a) Closed to new investors.

    CONTACT: Janus Capital Group Inc.
             Investor Contact:
             Steve Belgrad, 303-394-7706
             or
             Media Contact:
             Blair Johnson, 720-210-1439

    SOURCE: Janus Capital Group Inc.