**Exhibit 99.1**

 

**Janus Investment Fund (“JIF”)**

 
| ** **                                     | ** ** | ** **    | ** ** | ** **                                | ** ** | **Lipper Rankings Based on Total Returns as of  9/30/09** | ** ** |
|------------------------------------------------|------------|---------------|------------|-------------------------------------------|------------|-----------------------------------------------------------|------------|
| ** **                                     | ** ** | ** **    | ** ** | ** **                                | ** ** | **1-Year**                                                | ** ** | **3-Year** | ** ** | **5-Year** | ** ** | **10-Year** | ** ** | **Since PM Inception** | ** ** |
| ** **                                     | ** ** | **PM**        | ** ** | ** **                                | ** ** | **Percentile**                                            | ** ** | **Rank /** | ** ** | **Percentile** | ** ** | **Rank /** | ** ** | **Percentile** | ** ** | **Rank /** | ** ** | **Percentile** | ** ** | **Rank /** | ** ** | **Percentile** | ** ** | **Rank /** | ** ** |
| ** **                                     | ** ** | **Inception** | ** ** | **Lipper Category**                       | ** ** | **Rank (%)**                                              | ** ** | **Total Funds** | ** ** | **Rank (%)** | ** ** | **Total Funds** | ** ** | **Rank (%)** | ** ** | **Total Funds** | ** ** | **Rank (%)** | ** ** | **Total Funds** | ** ** | **Rank (%)** | ** ** | **Total Funds** | ** ** |
| **Growth Funds - Share Class**                 | * *   | * *      | * *   | * *                                  | * *   | * *                                                  | * *   | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * |
| Janus  Twenty Fund - J (1)                     |       | Dec-07        |       | Large-Cap Growth Funds                    | ** ** | **9**                                                     | ** ** | **66  / 814** | ** ** | **1** | ** ** | **1  / 698** | ** ** | **1** | ** ** | **2  / 582** | ** ** | **18** | ** ** | **54  / 301** | ** ** | **25** | ** ** | **189  / 777** | ** ** |
| Janus  Fund - J                                |       | Oct-07        |       | Large-Cap Growth Funds                    | ** ** | **23**                                                    | ** ** | **184  / 814** | ** ** | **33** | ** ** | **224  / 698** | ** ** | **27** | ** ** | **154  / 582** | ** ** | **68** | ** ** | **203  / 301** | ** ** | **39** | ** ** | **292  / 762** | ** ** |
| Janus  Forty Fund -S                           |       | Dec-07        |       | Large-Cap Growth Funds                    | ** ** | **14**                                                    | ** ** | **109  / 814** | ** ** | **1** | ** ** | **4  / 698** | ** ** | **1** | ** ** | **3  / 582** | ** ** | **2** | ** ** | **6  / 301** | ** ** | **42** | ** ** | **319  / 777** | ** ** |
| Janus  Orion Fund - J                          |       | Dec-07        |       | Multi-Cap Growth Funds                    | ** ** | **44**                                                    | ** ** | **210  / 478** | ** ** | **7** | ** ** | **26  / 384** | ** ** | **4** | ** ** | **10  / 320** | ** ** | **—** | ** ** | **—** | ** ** | **54** | ** ** | **236  / 438** | ** ** |
| Janus  Research Fund - J                       |       | Jan-06        |       | Large-Cap Growth Funds                    | ** ** | **18**                                                    | ** ** | **143  / 814** | ** ** | **11** | ** ** | **70  / 698** | ** ** | **8** | ** ** | **46  / 582** | ** ** | **49** | ** ** | **147  / 301** | ** ** | **8** | ** ** | **53  / 663** | ** ** |
| Janus  Enterprise Fund - J                     |       | Oct-07        |       | Mid-Cap Growth Funds                      | ** ** | **63**                                                    | ** ** | **304  / 485** | ** ** | **28** | ** ** | **117  / 427** | ** ** | **13** | ** ** | **44  / 356** | ** ** | **88** | ** ** | **153  / 173** | ** ** | **30** | ** ** | **134  / 459** | ** ** |
| Janus  Venture Fund - J (1)                    |       | Jan-97        |       | Small-Cap Growth Funds                    | ** ** | **14**                                                    | ** ** | **77  / 568** | ** ** | **29** | ** ** | **140  / 489** | ** ** | **22** | ** ** | **86  / 404** | ** ** | **65** | ** ** | **137  / 212** | ** ** | **23** | ** ** | **30  / 132** | ** ** |
| Janus  Triton Fund - J                         |       | Jun-06        |       | Small-Cap Growth Funds                    | ** ** | **9**                                                     | ** ** | **50  / 568** | ** ** | **2** | ** ** | **6  / 489** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **1** | ** ** | **4  / 479** | ** ** |
| INTECH  RM Growth Fund - S                     |       | Jan-03        |       | Multi-Cap Growth Funds                    | ** ** | **75**                                                    | ** ** | **359  / 478** | ** ** | **79** | ** ** | **302  / 384** | ** ** | **85** | ** ** | **272  / 320** | ** ** | **—** | ** ** | **—** | ** ** | **81** | ** ** | **236  / 291** | ** ** |
| ** **                                     | ** ** | ** **    | ** ** | ** **                                | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Core Funds - Share Class**                   | ** ** | ** **    | ** ** | ** **                                | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Janus  Growth and Income Fund - J              |       | Nov-07        |       | Large-Cap Core Funds                      | ** ** | **2**                                                     | ** ** | **11  / 904** | ** ** | **45** | ** ** | **335  / 760** | ** ** | **23** | ** ** | **139  / 626** | ** ** | **40** | ** ** | **146  / 364** | ** ** | **44** | ** ** | **357  / 829** | ** ** |
| Janus  Contrarian Fund - J                     |       | Feb-00        |       | Multi-Cap Core Funds                      | ** ** | **63**                                                    | ** ** | **483  / 776** | ** ** | **23** | ** ** | **144  / 637** | ** ** | **3** | ** ** | **11  / 486** | ** ** | **—** | ** ** | **—** | ** ** | **17** | ** ** | **35  / 215** | ** ** |
| Janus  Balanced Fund - J                       |       | Apr-05        |       | Mixed-Asset Target  Alloc. Mod. Funds     | ** ** | **1**                                                     | ** ** | **1  / 505** | ** ** | **1** | ** ** | **1  / 390** | ** ** | **1** | ** ** | **1  / 300** | ** ** | **11** | ** ** | **15  / 147** | ** ** | **1** | ** ** | **1  / 333** | ** ** |
| Janus  Research Core Fund - J                  |       | Nov-07        |       | Large-Cap Core Funds                      | ** ** | **16**                                                    | ** ** | **137  / 904** | ** ** | **45** | ** ** | **340  / 760** | ** ** | **15** | ** ** | **94  / 626** | ** ** | **22** | ** ** | **78  / 364** | ** ** | **54** | ** ** | **447  / 829** | ** ** |
| INTECH  RM Core Fund - J                       |       | Feb-03        |       | Multi-Cap Core Funds                      | ** ** | **84**                                                    | ** ** | **652  / 776** | ** ** | **78** | ** ** | **494  / 637** | ** ** | **65** | ** ** | **312  / 486** | ** ** | **—** | ** ** | **—** | ** ** | **49** | ** ** | **182  / 373** | ** ** |
| ** **                                     | ** ** | ** **    | ** ** | ** **                                | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Global/International Funds - Share Class**   | ** ** | ** **    | ** ** | ** **                                | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Janus  Overseas Fund - J                       |       | Jun-03        |       | International Funds                       | ** ** | **1**                                                     | ** ** | **2  / 1240** | ** ** | **1** | ** ** | **2  / 924** | ** ** | **1** | ** ** | **1  / 694** | ** ** | **3** | ** ** | **9  / 370** | ** ** | **1** | ** ** | **1  / 613** | ** ** |
| Janus  Worldwide Fund - J                      |       | Apr-09        |       | Global Funds                              | ** ** | **49**                                                    | ** ** | **262  / 537** | ** ** | **57** | ** ** | **212  / 372** | ** ** | **72** | ** ** | **208  / 289** | ** ** | **95** | ** ** | **143  / 151** | ** ** | ** ** | **‡** | ** ** | ** ** |
| Janus  Global Technology Fund - J              |       | Jan-06        |       | Global  Science/Technology Funds          | ** ** | **69**                                                    | ** ** | **50  / 72** | ** ** | **20** | ** ** | **13  / 64** | ** ** | **25** | ** ** | **15  / 59** | ** ** | **74** | ** ** | **14  / 18** | ** ** | **33** | ** ** | **21  / 64** | ** ** |
| Janus  Global Life Sciences Fund - J           |       | Apr-07        |       | Global  Health/Biotechnology Funds        | ** ** | **50**                                                    | ** ** | **24  / 47** | ** ** | **15** | ** ** | **6  / 41** | ** ** | **40** | ** ** | **16  / 39** | ** ** | **56** | ** ** | **10  / 17** | ** ** | **14** | ** ** | **6  / 45** | ** ** |
| Janus  Global Research Fund - J                |       | Feb-05        |       | Global Funds                              | ** ** | **21**                                                    | ** ** | **109  / 537** | ** ** | **11** | ** ** | **39  / 372** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **5** | ** ** | **14  / 308** | ** ** |
| Janus  Global Opportunities Fund - J           |       | Apr-05        |       | Global Funds                              | ** ** | **15**                                                    | ** ** | **79  / 537** | ** ** | **25** | ** ** | **92  / 372** | ** ** | **57** | ** ** | **163  / 289** | ** ** | **—** | ** ** | **—** | ** ** | **58** | ** ** | **191  / 329** | ** ** |
| Janus  International Equity Fund - I           |       | Nov-06        |       | International Funds                       | ** ** | **9**                                                     | ** ** | **108  / 1240** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **15  / 941** | ** ** |
| INTECH  RM International Fund - I              |       | May-07        |       | International Funds                       | ** ** | **67**                                                    | ** ** | **825  / 1240** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **52** | ** ** | **528  / 1032** | ** ** |
| Janus  International Forty Fund - I            |       | May-08        |       | International Funds                       | ** ** | **9**                                                     | ** ** | **104  / 1240** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **48** | ** ** | **559  / 1169** | ** ** |
| ** **                                     | ** ** | ** **    | ** ** | ** **                                | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Value Funds - Share Class**                  | ** ** | ** **    | ** ** | ** **                                | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Perkins  Mid Cap Value Fund - J                |       | Aug-98        |       | Mid-Cap Value Funds                       | ** ** | **19**                                                    | ** ** | **51  / 270** | ** ** | **4** | ** ** | **8  / 225** | ** ** | **6** | ** ** | **10  / 172** | ** ** | **2** | ** ** | **1  / 64** | ** ** | **2** | ** ** | **1  / 53** | ** ** |
| Perkins  Small Cap Value Fund - J (1)          |       | Feb-97        |       | Small-Cap Core Funds                      | ** ** | **8**                                                     | ** ** | **54  / 735** | ** ** | **2** | ** ** | **9  / 608** | ** ** | **9** | ** ** | **43  / 491** | ** ** | **14** | ** ** | **35  / 252** | ** ** | **5** | ** ** | **6  / 131** | ** ** |
| INTECH  RM Value Fund - I                      |       | Dec-05        |       | Multi-Cap Value Funds                     | ** ** | **80**                                                    | ** ** | **282  / 355** | ** ** | **57** | ** ** | **163  / 285** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **55** | ** ** | **140  / 257** | ** ** |
| ** **                                     | ** ** | ** **    | ** ** | ** **                                | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Income Funds - Share Class**                 | ** ** | ** **    | ** ** | ** **                                | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Janus  Flexible Bond Fund - J                  |       | May-07        |       | Intermediate Investment  Grade Debt Funds | ** ** | **14**                                                    | ** ** | **77  / 556** | ** ** | **7** | ** ** | **28  / 444** | ** ** | **9** | ** ** | **31  / 382** | ** ** | **13** | ** ** | **27  / 211** | ** ** | **7** | ** ** | **32  / 488** | ** ** |
| Janus  Short-Term Bond Fund - J                |       | May-07        |       | Short Investment Grade  Debt Funds        | ** ** | **7**                                                     | ** ** | **16  / 256** | ** ** | **1** | ** ** | **2  / 208** | ** ** | **2** | ** ** | **3  / 177** | ** ** | **13** | ** ** | **12  / 92** | ** ** | **3** | ** ** | **6  / 244** | ** ** |
| Janus  High-Yield Fund - J                     |       | Dec-03        |       | High Current Yield Funds                  | ** ** | **27**                                                    | ** ** | **120  / 459** | ** ** | **22** | ** ** | **84  / 383** | ** ** | **22** | ** ** | **71  / 331** | ** ** | **13** | ** ** | **26  / 206** | ** ** | **22** | ** ** | **68  / 316** | ** ** |
| ** **                                     |       |          |       |                                      |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Alternative Funds - Share Class**            |       |          |       |                                      |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus  Long/Short Fund - I                     |       | Aug-06        |       | Long/Short Equity Funds                   | ** ** | **46**                                                    | ** ** | **54  / 118** | ** ** | **22** | ** ** | **11  / 50** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **23** | ** ** | **11  / 47** | ** ** |
| Janus  Global Real Estate Fund - I             |       | Nov-07        |       | Global Real Estate Funds                  | ** ** | **3**                                                     | ** ** | **2  / 79** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **1  / 70** | ** ** |
| ** **                                     |       |          |       |                                      |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Asset Allocation Funds - Share Class**       |       |          |       |                                      |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus  SP-Growth - J                           |       | Dec-05        |       | Mixed-Asset Targe Alloc.  Growth Funds    | ** ** | **6**                                                     | ** ** | **39  / 665** | ** ** | **5** | ** ** | **22  / 541** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **3** | ** ** | **13  / 508** | ** ** |
| Janus  SP-Moderate - J                         |       | Dec-05        |       | Mixed-Asset Target  Alloc. Mod Funds      | ** ** | **2**                                                     | ** ** | **9  / 505** | ** ** | **1** | ** ** | **3  / 390** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **3** | ** ** | **10  / 364** | ** ** |
| Janus  SP-Conservative - J                     |       | Dec-05        |       | Mixed-Asset Targe Alloc.  Cons Funds      | ** ** | **4**                                                     | ** ** | **16  / 437** | ** ** | **2** | ** ** | **7  / 357** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **4  / 320** | ** ** |
| Janus  Modular Portfolio Construction Fund - I |       | Sep-08        |       | Mixed-Asset Targe Alloc.  Growth Funds    | ** ** | **27**                                                    | ** ** | **175  / 665** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **42** | ** ** | **274  / 656** | ** ** |

 

Please considerthe charges, risks, expenses and investment objectives carefully beforeinvesting. For a prospectus containing this and other information, please callJanus at 1-800-525-1068 or download the file from janus.com. Read it carefullybefore you invest or send money.

 

Rankings are forthe share class with the longest performance history, Class J, S or IShares in the Janus retail fund (“JIF”) trust.

 

Lipper Inc. – AReuters Company, is a nationally recognized organization that ranks theperformance of mutual funds within a universe of funds that have similarinvestment objectives.  Rankings arehistorical with capital gains and dividends reinvested. If an expense waiverwas in effect, it may have had a material effect on the total return or yieldfor the period.

 

Data presentedreflects past performance, which is no guarantee of future results.

 

----

Notes:

(1)         Closed to newinvestors.

 

----

 

**Janus Aspen Series (“JAS”) Institutional Shares**

 
| ** **                       | ** ** | ** **    | ** ** | ** **                             | ** ** | **Lipper Rankings Based on Total Returns as of  9/30/09** | ** ** |
|----------------------------------|------------|---------------|------------|----------------------------------------|------------|-----------------------------------------------------------|------------|
| ** **                       | ** ** | ** **    | ** ** | ** **                             | ** ** | **1-Year**                                                | ** ** | **3-Year** | ** ** | **5-Year** | ** ** | **10-Year** | ** ** | **Since PM Inception** | ** ** |
| ** **                       | ** ** | **PM**        | ** ** | ** **                             | ** ** | **Percentile**                                            | ** ** | **Rank /** | ** ** | **Percentile** | ** ** | **Rank /** | ** ** | **Percentile** | ** ** | **Rank /** | ** ** | **Percentile** | ** ** | **Rank /** | ** ** | **Percentile** | ** ** | **Rank /** | ** ** |
| ** **                       | ** ** | **Inception** | ** ** | **Lipper Category**                    | ** ** | **Rank (%)**                                              | ** ** | **Total Funds** | ** ** | **Rank (%)** | ** ** | **Total Funds** | ** ** | **Rank (%)** | ** ** | **Total Funds** | ** ** | **Rank (%)** | ** ** | **Total Funds** | ** ** | **Rank (%)** | ** ** | **Total Funds** | ** ** |
| **Growth Funds**                 | * *   | * *      | * *   | * *                               | * *   | * *                                                  | * *   | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * |
| Forty  Portfolio                 |       | Jan-08        |       | VA Large-Cap Growth                    | ** ** | **87**                                                    | ** ** | **206  / 236** | ** ** | **1** | ** ** | **1  / 213** | ** ** | **1** | ** ** | **1  / 192** | ** ** | **3** | ** ** | **2  / 76** | ** ** | **31** | ** ** | **70  / 229** | ** ** |
| Janus  Portfolio                 |       | Oct-07        |       | VA Large-Cap Growth                    | ** ** | **37**                                                    | ** ** | **86  / 236** | ** ** | **32** | ** ** | **68  / 213** | ** ** | **58** | ** ** | **111  / 192** | ** ** | **62** | ** ** | **47  / 76** | ** ** | **36** | ** ** | **80  / 224** | ** ** |
| Enterprise  Portfolio            |       | Oct-07        |       | VA Mid-Cap Growth                      | ** ** | **59**                                                    | ** ** | **80  / 136** | ** ** | **12** | ** ** | **15  / 124** | ** ** | **9** | ** ** | **9  / 111** | ** ** | **73** | ** ** | **31  / 42** | ** ** | **23** | ** ** | **29  / 129** | ** ** |
| ** **                       |       |          |       |                                   |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Core Funds**                   |       |          |       |                                   |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balanced  Portfolio              |       | Apr-05        |       | VA Mixed-Asset Target  Alloc. Mod.     | ** ** | **2**                                                     | ** ** | **3  / 185** | ** ** | **1** | ** ** | **1  / 120** | ** ** | **3** | ** ** | **2  / 78** | ** ** | **13** | ** ** | **6  / 47** | ** ** | **2** | ** ** | **1  / 95** | ** ** |
| Growth  and Income Portfolio     |       | Nov-07        |       | VA Large-Cap Core                      | ** ** | **21**                                                    | ** ** | **48  / 230** | ** ** | **30** | ** ** | **62  / 207** | ** ** | **14** | ** ** | **24  / 182** | ** ** | **11** | ** ** | **9  / 87** | ** ** | **17** | ** ** | **37  / 221** | ** ** |
| Fundamental  Equity Portfolio    |       | Nov-07        |       | VA Large-Cap Core                      | ** ** | **65**                                                    | ** ** | **149  / 230** | ** ** | **56** | ** ** | **116  / 207** | ** ** | **15** | ** ** | **27  / 182** | ** ** | **16** | ** ** | **14  / 87** | ** ** | **53** | ** ** | **117  / 221** | ** ** |
| ** **                       |       |          |       |                                   |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Global/International Funds**   |       |          |       |                                   |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Worldwide  Growth Portfolio      |       | Apr-09        |       | VA Global                              | ** ** | **29**                                                    | ** ** | **36  / 125** | ** ** | **39** | ** ** | **34  / 88** | ** ** | **82** | ** ** | **60  / 73** | ** ** | **87** | ** ** | **31  / 35** | ** ** | **0** | ** ** | ** ** | ** ** |
| International  Growth Portfolio  |       | Jun-03        |       | VA International                       | ** ** | **4**                                                     | ** ** | **10  / 275** | ** ** | **1** | ** ** | **2  / 232** | ** ** | **1** | ** ** | **1  / 193** | ** ** | **3** | ** ** | **2  / 97** | ** ** | **1** | ** ** | **1  / 185** | ** ** |
| Global  Life Sciences Portfolio  |       | Oct-04        |       | VA Health/Biotechnology                | ** ** | **95**                                                    | ** ** | **36  / 37** | ** ** | **43** | ** ** | **15  / 34** | ** ** | **19** | ** ** | **6  / 31** | ** ** | **—** | ** ** | **—** | ** ** | **16** | ** ** | **5  / 31** | ** ** |
| Global  Technology Portfolio     |       | Jan-06        |       | VA Science &  Technology      | ** ** | **37**                                                    | ** ** | **21  / 57** | ** ** | **26** | ** ** | **14  / 54** | ** ** | **16** | ** ** | **8  / 52** | ** ** | **—** | ** ** | **—** | ** ** | **28** | ** ** | **15  / 54** | ** ** |
| ** **                       |       |          |       |                                   |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Value Funds**                  |       |          |       |                                   |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Perkins  Mid Cap Value Portfolio |       | May-03        |       | VA Mid-Cap Value                       | ** ** | **6**                                                     | ** ** | **4  / 76** | ** ** | **2** | ** ** | **1  / 63** | ** ** | **2** | ** ** | **1  / 52** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **1  / 49** | ** ** |
| ** **                       |       |          |       |                                   |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Income Funds**                 |       |          |       |                                   |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Flexible  Bond Portfolio         |       | May-07        |       | VA Intermediate  Investment Grade Debt | ** ** | **10**                                                    | ** ** | **7  / 73** | ** ** | **17** | ** ** | **11  / 67** | ** ** | **19** | ** ** | **11  / 60** | ** ** | **18** | ** ** | **5  / 28** | ** ** | **13** | ** ** | **9  / 69** | ** ** |

 

Rankings are for the Institutional Shares only; other classes may havedifferent performance characteristics.

 

Please considerthe charges, risks, expenses and investment objectives carefully beforeinvesting. For a prospectus containing this and other information, please callJanus at 1-800-525-1068 or download the file from janus.com. Read it carefullybefore you invest or send money.

 

Lipper Inc. – AReuters Company, is a nationally recognized organization that ranks theperformance of mutual funds within a universe of funds that have similarinvestment objectives.  Rankings arehistorical with capital gains and dividends reinvested. If an expense waiverwas in effect, it may have had a material effect on the total return or yieldfor the period.

 

Data presentedreflects past performance, which is no guarantee of future results.

 

----