Janus to Simplify Mutual Fund Product Platform

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.

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)