Janus Announces Higher Assets under Management in November, Improved Gross Sales and Strong Relative Fund Performance

Company Release - 12/8/2004 5:23 PM ET

DENVER--(BUSINESS WIRE)--Dec. 8, 2004--For the month ended November 30, 2004, Janus Capital Group Inc. (NYSE: JNS) reported total assets under management of approximately $137.4 billion, which is up 4.6% from the prior month's assets of $131.3 billion. Firmwide average assets under management during November were approximately $136.3 billion compared with October's average assets of $131.0 billion, an increase of 4.0%. Excluding money markets, average assets in November were $123.4 billion.

Long-term (non-money market) net outflows were approximately $151 million in November. Including money markets, total net inflows in November were approximately $183 million. INTECH, which uses a mathematical, risk-managed investment strategy, continued to show strength last month, recording net inflows of approximately $1.4 billion. Janus long-term products (excluding INTECH and money markets) had outflows of $1.5 billion. However, Janus long-term products had gross sales of $1.1 billion in November, an improvement of approximately 36% from October and the highest level since April 2004.

Strong Fund Performance Led By Janus Twenty Fund and Janus Contrarian Fund

Janus' relative fund performance remained strong in November. As of November 30, more than 65% of the Janus Investment Fund (JIF) retail funds were in the top half of their Lipper categories on a 1-year total return basis. In addition, more than 68% of the JIF funds were in the top half of their Lipper categories on a 3-year basis based on total returns at the end of November.

Turning to specific funds, Janus Twenty Fund, managed by Scott Schoelzel, remained the top-ranked large-cap growth fund (1 out of 647 funds) for the 1-year period, according to Lipper. Additionally, Janus Contrarian Fund, managed by David Decker, is ranked by Lipper as the number one multi-cap core fund (1 out of 698) for the 1-year period.

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

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)

                                            One Month Ended
                                 -------------------------------------
                                 Sept. 30,     Oct. 31,     Nov. 30,
                                    2004         2004          2004
                                 -----------  -----------  -----------

 Beginning of period assets           $66.2        $66.7        $66.3
 Sales                                  0.3          0.3          0.5
 Redemptions                            1.3          1.8          1.9
                                 -----------  -----------  -----------
 Net Sales (redemptions)               (1.0)        (1.5)        (1.4)
 Market appreciation                    1.6          1.1          3.7
                                 -----------  -----------  -----------
 End of period assets                 $66.7        $66.3        $68.5
                                 ===========  ===========  ===========


 Beginning of period assets           $17.9        $20.1        $21.2
 Sales                                  1.7          0.9          1.4
 Redemptions                            0.1            -          0.1
                                 -----------  -----------  -----------
 Net Sales (redemptions)                1.6          0.9          1.4
 Market appreciation                    0.6          0.2          0.9
                                 -----------  -----------  -----------
 End of period assets                 $20.1        $21.2        $23.5
                                 ===========  ===========  ===========


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


 Beginning of period assets           $16.6        $16.8        $16.9
 Sales                                  0.1          0.1          0.2
 Redemptions                            0.3          0.4          0.4
                                 -----------  -----------  -----------
 Net Sales (redemptions)               (0.2)        (0.2)        (0.2)
 Market appreciation                    0.3          0.3          0.8
                                 -----------  -----------  -----------
 End of period assets                 $16.8        $16.9        $17.4
                                 ===========  ===========  ===========


 Beginning of period assets            $9.5         $8.9         $9.0
 Acquisitions (dispositions)           (0.6)           -            -
 Sales                                  0.2          0.2          0.3
 Redemptions                            0.3          0.2          0.2
                                 -----------  -----------  -----------
 Net Sales (redemptions)               (0.1)           -          0.1
 Market appreciation                    0.2          0.1          0.5
                                 -----------  -----------  -----------
 End of period assets                  $8.9         $9.0         $9.6
                                 ===========  ===========  ===========


 Beginning of period assets           $11.8        $11.8        $12.0
 Sales                                  6.5          5.5          7.0
 Redemptions                            6.5          5.2          6.7
                                 -----------  -----------  -----------
 Net Sales (redemptions)                  -          0.3          0.3
 Market appreciation                      -            -            -
                                 -----------  -----------  -----------
 End of period assets                 $11.8        $12.0        $12.4
                                 ===========  ===========  ===========


 Beginning of period assets          $127.8       $130.2       $131.3
 Acquisitions (dispositions)           (0.6)           -            -
 Sales                                  8.9          7.3          9.6
 Redemptions                            8.7          7.8          9.4
                                 -----------  -----------  -----------
 Net Sales (redemptions)                0.2         (0.5)         0.2
 Market appreciation                    2.8          1.7          5.9
                                 -----------  -----------  -----------
 End of period assets                $130.2       $131.3       $137.4
                                 ===========  ===========  ===========


 Beginning of period assets          $116.0       $118.4       $119.3
 Acquisitions (dispositions)           (0.6)           -            -
 Sales                                  2.5          1.8          2.5
 Redemptions                            2.2          2.6          2.7
                                 -----------  -----------  -----------
 Net Sales (redemptions)                0.2         (0.9)        (0.2)
 Market appreciation                    2.8          1.7          5.9
                                 -----------  -----------  -----------
 End of period assets                $118.4       $119.3       $125.0
                                 ===========  ===========  ===========



 Beginning of period assets           $98.1        $98.3        $98.1
 Acquisitions (dispositions)           (0.6)           -            -
 Sales                                  0.8          0.8          1.1
 Redemptions                            2.1          2.6          2.6
                                 -----------  -----------  -----------
 Net Sales (redemptions)               (1.4)        (1.8)        (1.5)
 Market appreciation                    2.2          1.6          4.9
                                 -----------  -----------  -----------
 End of period assets                 $98.3        $98.1       $101.5
                                 ===========  ===========  ===========
Exhibit 2

Janus Investment Funds                  Lipper Rankings Based
                                   on Total Returns as of 11/30/04
                               ---------------------------------------
                                     1-Year              3-Year
                               ------------------- -------------------
                               Percentile  Rank /  Percentile  Rank /
                Lipper           Rank (%)  Total     Rank (%)  Total
                 Category                   Funds               Funds
                ----------     ---------- -------- ---------- --------
Growth Funds
----------------------------------------------------------------------
Janus
 Enterprise     Mid-Cap Growth
 Fund            Funds                 5   25/526         38  161/425
Janus Fund      Large-Cap
                 Growth Funds         75  484/647         36  187/533
Janus Mercury   Large-Cap
 Fund            Growth Funds         11   71/647         22  116/533
Janus Olympus   Multi-Cap
 Fund            Growth Funds         69  285/417         55  189/345
Janus Orion     Multi-Cap
 Fund            Growth Funds         12   47/417         16   52/345
Janus Twenty    Large-Cap
 Fund(a)         Growth Funds          1    1/647          9   44/533
Janus Venture   Small-Cap
 Fund(a)         Growth Funds         16   79/513         13   52/425
----------------------------------------------------------------------
Core Funds
----------------------------------------------------------------------
Janus Balanced
 Fund           Balanced Funds        61  341/566         44  196/451
Janus Core      Large-Cap
 Equity Fund     Core Funds           12  102/924          8   56/791
Janus Growth
 and Income     Large-Cap
 Fund            Core Funds           22  202/924         27  213/791
Janus Risk-
 Managed Stock  Multi-Cap
 Fund            Core Funds            4   25/698          -        -
Janus
 Contrarian     Multi-Cap
 Fund(1)         Core Funds            1    1/698          3   11/501
----------------------------------------------------------------------
Income Funds
----------------------------------------------------------------------
Janus Federal
 Tax-Exempt     General Muni
 Fund            Debt Funds           86  252/294         68  184/270
Janus Flexible  Intermediate
 Income Fund     Inv Grade Debt
                 Funds                47  218/463         13   46/367
Janus High-     High Current
 Yield Fund      Yield Funds          61  254/422         69  240/350
Janus Short-    Short
 Term Bond Fund  Investment
                 Grade Debt
                 Funds                17   30/186         31   39/127
----------------------------------------------------------------------
International/
Global Funds
----------------------------------------------------------------------
Janus Global    Health/
 Life Sciences  Biotechnology
 Fund            Funds                11   21/194         43   67/155
Janus Global
 Opportunities
 Fund           Global Funds          61  193/316         17   43/252
Janus Global    Science &
 Technology     Technology
 Fund            Funds                61  190/312         60  168/282
Janus Overseas  International
 Fund            Funds                43  363/859         68  483/713
Janus Worldwide
 Fund           Global Funds          96  303/316         97  245/252
----------------------------------------------------------------------
Value Funds
----------------------------------------------------------------------
Janus Mid Cap
 Value Fund  -  Mid-Cap
 Inv(2)          Value Funds          47  105/227         33   56/172
Janus Small Cap
 Value Fund -   Small-Cap
 Inv.(a)(2)      Core Funds           48  265/554         68  302/448
----------------------------------------------------------------------


Janus Investment Funds                  Lipper Rankings Based
                                   on Total Returns as of 11/30/04
                              ----------------------------------------
                                     5-Year              10-Year
                              -------------------- -------------------
                               Percentile  Rank /  Percentile  Rank /
                 Lipper          Rank (%)  Total     Rank (%)  Total
                  Category                  Funds               Funds
                 ----------    ---------- -------- ---------- --------
Growth Funds
----------------------------------------------------------------------
Janus Enterprise Mid-Cap
 Fund             Growth Funds        94  258/274         60   65/108
Janus Fund       Large-Cap
                  Growth Funds        63  246/395         41   52/128
Janus Mercury    Large-Cap
 Fund             Growth Funds        71  279/395          9   11/128
Janus Olympus    Multi-Cap
 Fund             Growth Funds        71  148/208          -        -
Janus Orion      Multi-Cap
 Fund             Growth Funds         -        -          -        -
Janus Twenty     Large-Cap
 Fund(a)          Growth Funds        76  300/395          1    1/128
Janus Venture    Small-Cap
 Fund(a)          Growth Funds        82  240/292         36    29/80
----------------------------------------------------------------------
Core Funds
----------------------------------------------------------------------
Janus Balanced   Balanced
 Fund             Funds               48  175/367          8   12/157
Janus Core       Large-Cap
 Equity Fund      Core Funds          18  105/606          -        -
Janus Growth and Large-Cap
 Income Fund      Core Funds          45  269/606          4    7/218
Janus Risk-
 Managed Stock   Multi-Cap
 Fund             Core Funds           -        -          -        -
Janus Contrarian Multi-Cap
 Fund(1)          Core Funds           -        -          -        -
----------------------------------------------------------------------
Income Funds
----------------------------------------------------------------------
Janus Federal    General Muni
 Tax-Exempt Fund  Debt Funds          84  196/234         74  101/136
Janus Flexible   Intermediate
 Income Fund      Inv Grade
                  Debt Funds          60  157/265          9   11/122
Janus High-Yield High Current
 Fund             Yield Funds         17   46/277          -        -
Janus Short-Term Short
 Bond Fund        Investment
                  Grade Debt
                  Funds               44    42/96         30    17/56
----------------------------------------------------------------------
International/
Global Funds
----------------------------------------------------------------------
Janus Global     Health/
 Life Sciences   Biotechnology
 Fund             Funds               63    41/65          -        -
Janus Global
 Opportunities
 Fund            Global Funds          -        -          -        -
Janus Global     Science &
 Technology Fund Technology
                  Funds               60   75/124          -        -
Janus Overseas   International
 Fund             Funds               61  311/516          5    7/157
Janus Worldwide
 Fund            Global Funds         94  164/175         42    24/57
----------------------------------------------------------------------
Value Funds
----------------------------------------------------------------------
Janus Mid Cap
 Value Fund  -   Mid-Cap
 Inv(2)           Value Funds         17   17/105          -        -
Janus Small Cap
 Value Fund -    Small-Cap
 Inv.(a)(2)       Core Funds          28   88/317          -        -
----------------------------------------------------------------------

                                  Percent of JIF Funds per Lipper
                                   Quartile based on Total Returns
                               ---------------------------------------
                                1-Year    3-Year    5-Year   10-Year
---------------------------------------------------------------------
1st Quartile                      47.8%     36.4%     15.8%     50.0%
2nd Quartile                      17.4      31.8      21.1      33.3
3rd Quartile                      26.1      27.3      36.8      16.7
4th Quartile                       8.7       4.5      26.3       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.

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
             Tamar Gerber, 303-336-4092
             or
             Media Contact:
             Jane Ingalls, 303-394-7311

    SOURCE: Janus Capital Group Inc.