Janus to Simplify Mutual Fund Product Platform

Company Release - 3/16/2009 4:05 PM ET

DENVER--(BUSINESS WIRE)-- Janus Capital Group Inc. (NYSE: JNS) announced today that the trustees of the Janus mutual funds have approved a proposal to merge the Janus Adviser Series fund (JAD) trust into the Janus Investment Fund (JIF) trust. The merger, which is expected to occur on or about July 6, 2009, will reorganize and simplify Janus' product offerings and provide investors with a broader range of investment strategies.

Historically, Janus organized its retail mutual funds into two separate trusts. The original mutual fund trust JIF was designed primarily to meet the needs of the self-directed investor offering a single class of no-load shares. In 2000, the JAD trust was introduced with multi-share class pricing to meet the evolving needs of investors who were choosing to use financial intermediaries. The two trusts are comprised of very similar products managed by the same portfolio managers or teams. In response to changing market conditions and investor migration toward advice-driven channels, Janus believes that it is in the best interest of its fund shareholders to create one consolidated mutual fund platform with multi-share class pricing designed to meet the needs of the various investors doing business with the firm.

"We believe the merger provides Janus' shareholders and clients with a number of benefits, including access to additional product offerings, and creates opportunities for reduced fund expenses over time," said Robin Beery, president of the Funds, executive vice president and chief marketing officer of Janus Capital Group.

At the time of the merger, the JIF trust's direct investment platform will be closed to new investors but will continue to be available to current direct investors and members of their immediate family and household.

Under the terms of the merger, the following JAD funds would be merged into existing JIF funds, which will have some differences in Fund names from those currently in place in the JAD trust. In addition, 10 new funds will be created in the JIF trust for JAD funds that have no corresponding JIF strategy.

Existing JAD Fund          Existing JIF Fund         Resulting Fund

Janus Adviser Balanced     Janus Balanced Fund       Janus Balanced Fund
Fund

Janus Adviser Contrarian   Janus Contrarian Fund     Janus Contrarian Fund
Fund

Janus Adviser Mid Cap      Janus Enterprise Fund     Janus Enterprise Fund
Growth Fund

Janus Adviser Flexible     Janus Flexible Bond Fund  Janus Flexible Bond Fund
Bond Fund

Janus Adviser Large Cap    Janus Fund                Janus Fund
Growth Fund

Janus Adviser Growth and   Janus Growth and Income   Janus Growth and Income
Income Fund                Fund                      Fund

Janus Adviser High-Yield   Janus High-Yield Fund     Janus High-Yield Fund
Fund

Janus Adviser Orion Fund   Janus Orion Fund          Janus Orion Fund

Janus Adviser              Janus Overseas Fund       Janus Overseas Fund
International Growth Fund

Janus Adviser Research     Janus Research Core Fund  Janus Research Core Fund
Core Fund

Janus Adviser Small-Mid    Janus Triton Fund         Janus Triton Fund
Growth Fund

Janus Adviser Worldwide    Janus Worldwide Fund      Janus Worldwide Fund
Fund

Janus Adviser Perkins      Perkins Small Cap Value   Perkins Small Cap Value
Small Company Value Fund   Fund                      Fund

Janus Adviser Perkins Mid  Perkins Mid Cap Value     Perkins Mid Cap Value Fund
Cap Value Fund             Fund

Janus Adviser INTECH       INTECH Risk-Managed Core  INTECH Risk-Managed Core
Risk-Managed Core Fund     Fund                      Fund

Janus Adviser INTECH       None                      INTECH Risk-Managed Growth
Risk-Managed Growth Fund                             Fund

Janus Adviser INTECH                                 INTECH Risk-Managed
Risk-Managed               None                      International Fund
International Fund

Janus Adviser INTECH       None                      INTECH Risk-Managed Value
Risk-Managed Value Fund                              Fund

Janus Adviser Forty Fund   None                      Janus Forty Fund

Janus Adviser Global Real  None                      Janus Global Real Estate
Estate Fund                                          Fund

Janus Adviser              None                      Janus International Equity
International Equity Fund                            Fund

Janus Adviser              None                      Janus International Forty
International Forty Fund                             Fund

Janus Adviser Long/Short   None                      Janus Long/Short Fund
Fund

Janus Adviser Modular                                Janus Modular Portfolio
Portfolio Construction(R)  None                      Construction(R) Fund
Fund

Janus Adviser Perkins      None                      Perkins Large Cap Value
Large Cap Value Fund                                 Fund



For additional information on the proposed mergers, please visit www.janus.com.

About Janus Capital Group Inc.

Janus Capital Group Inc. (Janus) is a global investment firm offering strategies from three individual investment boutiques: Janus Capital Management LLC, INTECH Investment Management LLC (INTECH) and Perkins Investment Management LLC (Perkins). Each manager employs a research-intensive approach that is distinct within their respective asset class. This multi-boutique approach enables the firm to provide style-specific expertise across an array of strategies, including growth, value and risk-managed equities, fixed income and alternatives through one common distribution platform.

At the end of December 2008, Janus managed $123.5 billion in assets for shareholders, clients and institutions around the globe. Based in Denver, Janus also has offices in London, Tokyo, Hong Kong and Singapore.

Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus containing this and other information, please call Janus at 1-877-335-2687 or download the file from www.janus.com/info. Read it carefully before you invest or send money.

Funds distributed by Janus Distributors LLC (3/09)

    Source: Janus Capital Group Inc.
Contact: Janus Capital Group Inc. James Aber, 303-336-4513 or Shelley Peterson, 303-316-5625