Janus Launches New Fund of Funds

Janus Capital Group Inc. (NYSE: JNS) today introduced Janus Adviser Modular Portfolio Construction^® Fund (JSMPX), a fund of funds that seeks long-term growth of capital, with a secondary emphasis on income by investing primarily in other Janus mutual funds, as well as exchange traded funds (ETFs), exchange traded notes (ETNs) and derivatives.

Portfolio manager Dan Scherman plans to use Janus’ proprietary Modular Portfolio Construction (MPC) methodology, which looks to leverage investment strategies that are commonly used by large institutional investors, such as endowments and pension plans. The fund will allocate its assets among three categories: core, alpha and alternative. The core category includes funds that have broad domestic and international market exposure and fixed income investments. The alpha category consists of funds that seek high risk-adjusted returns through investments in equities across a wide range of market capitalization sizes and geographic regions. The alternative category is comprised primarily of commodities, hedge strategies and real estate investments, which typically have a low correlation to equity and fixed-income investments.

The new fund could be a compelling option for clients looking for an institutional investment approach and exposure to a wide range of asset classes, according to Dominic Martellaro, executive vice president and managing director of Janus Global Advisors.

"Many of our clients are looking for unique products that may help them diversify their portfolios,” said Martellaro. "We believe this fund could help simplify that search by providing a single investment solution to help meet their needs.”

Scherman will be assisted by an Asset Allocation Committee that will help guide the fund’s asset classification parameters and portfolio optimization strategies. Scherman joined Janus in 2005 as Director of Risk Management and Performance. Prior to Janus, he spent 13 years at MFS in both equity and fixed income capacities. He earned a bachelor’s degree in economics and history from Dartmouth College and his MBA from Boston University. Scherman also has earned the right to use the Chartered Financial Analyst designation.

"By making investments in funds and securities that aren’t strongly correlated, we think our Modular Portfolio Construction process has the potential to deliver consistent risk-adjusted returns across all market cycles,” Scherman said.

For more information on Janus Adviser Modular Portfolio Construction Fund, please visit www.janus.com/info.

About Janus Capital Group Inc.

Founded in 1969, Denver-based Janus Capital Group Inc. (Janus) is a recognized leader of growth and risk-managed investment strategies. Our commitment to deliver for investors is rooted in our research-intensive approach and relentless passion to gain a competitive edge.

At the end of June 2008, Janus managed approximately $191.8 billion in assets for more than four million shareholders, clients and institutions around the world. Outside the U.S., Janus has offices in London, Tokyo and Hong Kong. Janus Capital Group includes Janus Capital Management LLC and Enhanced Investment Technologies, LLC (INTECH). In addition, Janus Capital Group owns 30% of Perkins, Wolf, McDonnell and Company, LLC.

Janus Distributors LLC 151 Detroit Street Denver, CO 80206

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.

An individual fund’s performance may be affected by risks that include those associated with nondiversification, non-investment grade debt securities, undervalued or overlooked companies, investments in specific industries or countries and potential conflicts of interest with Janus Smart Portfolios and Janus Adviser Modular Portfolio Construction Fund. Additional risks to the fund(s) may include those associated with investing in foreign securities, emerging markets, initial public offerings, derivatives and companies with relatively small market capitalizations. Please see a Janus prospectus or janus.com/info for more information about risk, fund holdings and other details.

Funds that invest in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds owned by the fund. Unlike owning individual bonds, there are ongoing fees and expenses associated with owning shares of bonds funds. The return of principal is not guaranteed due to net asset value fluctuation that is caused by changes in the price of specific bonds held in the fund and selling of bonds within the fund by the portfolio manager(s).

The Fund may invest in derivatives which can be highly volatile and involve additional risks than those held by the underlying Fund assets. Such risks include gains or losses which, as a result of leverage, can be substantially greater than the derivatives' original cost. There is also a possibility that derivatives may not perform as intended which can reduce opportunity for gain or result in losses by offsetting positive returns in other securities the Fund owns.

Because Janus Capital is the adviser to the Janus Adviser Modular Portfolio Construction Fund and to the underlying funds held within the fund-of-funds, it is subject to certain potential conflicts of interest when allocating the assets of the Fund among underlying Janus funds.

Performance of Janus Adviser Modular Portfolio Construction Fund depends on that of the underlying funds. They are subject to the volatility of the financial markets in the U.S. and abroad and to the additional risks associated with investments.

Funds distributed by Janus Distributors LLC (09/08)