**Exhibit 99.1**

**Janus Investment Fund (“JIF”)**

 
| ** **                               | ** ** | ** **    | **Lipper Rankings Based on Total Returns as of 3/31/08** | ** **                             |
|------------------------------------------|------------|---------------|--------------------------------------------------------------------------------------------------|----------------------------------------|
| ** **                               | ** ** | ** **    | ** **                                                                                       | ** **                             | ** ** | **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**                        | * *   | * *      | * *                                                                                         | * *                               | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * |
| Janus Twenty Fund  (1)                   |       | Jan-08        |                                                                                             | Large-Cap Growth Funds                 | ** ** | **1** | ** ** | **3 / 739** | ** ** | **1** | ** ** | **1 / 615** | ** ** | **1** | ** ** | **1 / 521** | ** ** | **2** | ** ** | **3 / 247** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Janus Fund                               |       | Oct-07        |                                                                                             | Large-Cap Growth Funds                 | ** ** | **45** | ** ** | **328 / 739** | ** ** | **30** | ** ** | **183 / 615** | ** ** | **22** | ** ** | **113 / 521** | ** ** | **38** | ** ** | **92 / 247** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Janus Orion Fund                         |       | Dec-07        |                                                                                             | Multi-Cap Growth Funds                 | ** ** | **2** | ** ** | **10 / 527** | ** ** | **2** | ** ** | **5 / 403** | ** ** | **1** | ** ** | **1 / 343** | ** ** | **—** | ** ** | **—** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Janus Research  Fund                     |       | Jan-06        |                                                                                             | Large-Cap Growth Funds                 | ** ** | **17** | ** ** | **120 / 739** | ** ** | **4** | ** ** | **24 / 615** | ** ** | **3** | ** ** | **12 / 521** | ** ** | **3** | ** ** | **7 / 247** | ** ** | **2** | ** ** | **9 / 677** | ** ** |
| Janus Enterprise  Fund                   |       | Oct-07        |                                                                                             | Mid-Cap Growth Funds                   | ** ** | **12** | ** ** | **71 / 607** | ** ** | **7** | ** ** | **31 / 503** | ** ** | **10** | ** ** | **38 / 414** | ** ** | **38** | ** ** | **68 / 178** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Janus Venture  Fund (1)                  |       | Jan-01        |                                                                                             | Small-Cap Growth Funds                 | ** ** | **62** | ** ** | **370 / 598** | ** ** | **26** | ** ** | **120 / 475** | ** ** | **7** | ** ** | **25 / 393** | ** ** | **25** | ** ** | **46 / 183** | ** ** | **22** | ** ** | **65 / 306** | ** ** |
| Janus Triton Fund                        |       | Jun-06        |                                                                                             | Small-Cap Growth Funds                 | ** ** | **8** | ** ** | **47 / 598** | ** ** | **1** | ** ** | **3 / 475** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **3** | ** ** | **13 / 544** | ** ** |
|                                     |       |          |                                                                                             |                                   | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Core  Funds**                          |       |          |                                                                                             |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Contrarian  Fund                   |       | Feb-00        |                                                                                             | Multi-Cap Core Funds                   | ** ** | **2** | ** ** | **16 / 869** | ** ** | **1** | ** ** | **1 / 663** | ** ** | **1** | ** ** | **2 / 504** | ** ** | **—** | ** ** | **—** | ** ** | **5** | ** ** | **12 / 296** | ** ** |
| Janus Growth and  Income Fund            |       | Nov-07        |                                                                                             | Large-Cap Core Funds                   | ** ** | **25** | ** ** | **207 / 828** | ** ** | **21** | ** ** | **140 / 685** | ** ** | **28** | ** ** | **159 / 567** | ** ** | **7** | ** ** | **19 / 295** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Janus Balanced  Fund                     |       | Apr-05        |                                                                                             | Mixed-Asset Target Alloc. Mod. Funds   | ** ** | **1** | ** ** | **1 / 457** | ** ** | **1** | ** ** | **2 / 331** | ** ** | **22** | ** ** | **50 / 235** | ** ** | **4** | ** ** | **5 / 135** | ** ** | **1** | ** ** | **1 / 355** | ** ** |
| Janus Fundamental  Equity Fund           |       | Nov-07        |                                                                                             | Large-Cap Core Funds                   | ** ** | **20** | ** ** | **164 / 828** | ** ** | **3** | ** ** | **20 / 685** | ** ** | **7** | ** ** | **38 / 567** | ** ** | **1** | ** ** | **2 / 295** | ** ** | ** ** | ** ** | **‡** | ** ** |
| INTECH  Risk-Managed Stock Fund          |       | Feb-03        |                                                                                             | Multi-Cap Core Funds                   | ** ** | **70** | ** ** | **606 / 869** | ** ** | **63** | ** ** | **416 / 663** | ** ** | **34** | ** ** | **167 / 504** | ** ** | **—** | ** ** | **—** | ** ** | **37** | ** ** | **182 / 503** | ** ** |
|                                     |       |          |                                                                                             |                                   | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Global/International  Funds**          |       |          |                                                                                             |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Overseas  Fund (1)                 |       | Jun-03        |                                                                                             | International Funds                    | ** ** | **1** | ** ** | **9 / 1105** | ** ** | **1** | ** ** | **1 / 811** | ** ** | **1** | ** ** | **1 / 683** | ** ** | **3** | ** ** | **8 / 325** | ** ** | **1** | ** ** | **1 / 687** | ** ** |
| Janus Worldwide  Fund                    |       | Jun-04        |                                                                                             | Global Funds                           | ** ** | **52** | ** ** | **230 / 448** | ** ** | **79** | ** ** | **271 / 343** | ** ** | **93** | ** ** | **252 / 271** | ** ** | **80** | ** ** | **98 / 123** | ** ** | **75** | ** ** | **228 / 304** | ** ** |
| Janus Global Life  Sciences Fund         |       | Apr-07        |                                                                                             | Health/Biotechnology Funds             | ** ** | **8** | ** ** | **15 / 193** | ** ** | **20** | ** ** | **30 / 154** | ** ** | **21** | ** ** | **30 / 142** | ** ** | **—** | ** ** | **—** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Janus Global  Technology Fund            |       | Jan-06        |                                                                                             | Science & Technology Funds         | ** ** | **33** | ** ** | **87 / 270** | ** ** | **23** | ** ** | **55 / 241** | ** ** | **38** | ** ** | **84 / 221** | ** ** | **—** | ** ** | **—** | ** ** | **29** | ** ** | **73 / 258** | ** ** |
| Janus Global  Research Fund              |       | Feb-05        |                                                                                             | Global Funds                           | ** ** | **4** | ** ** | **15 / 448** | ** ** | **3** | ** ** | **10 / 343** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **4** | ** ** | **10 / 329** | ** ** |
| Janus Global  Opportunities Fund         |       | Jun-01        |                                                                                             | Global Funds                           | ** ** | **49** | ** ** | **216 / 448** | ** ** | **93** | ** ** | **318 / 343** | ** ** | **47** | ** ** | **127 / 271** | ** ** | **—** | ** ** | **—** | ** ** | **21** | ** ** | **43 / 210** | ** ** |
|                                     |       |          |                                                                                             |                                   | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Value  Funds**                         |       |          |                                                                                             |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Mid Cap  Value Fund - Inv (2)      |       | Aug-98        |                                                                                             | Mid-Cap Value Funds                    | ** ** | **5** | ** ** | **14 / 330** | ** ** | **9** | ** ** | **22 / 256** | ** ** | **19** | ** ** | **37 / 203** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **1 / 66** | ** ** |
| Janus Small Cap  Value Fund - Inv. (1,2) |       | Feb-97        |                                                                                             | Small-Cap Core Funds                   | ** ** | **10** | ** ** | **77 / 795** | ** ** | **24** | ** ** | **149 / 626** | ** ** | **48** | ** ** | **229 / 485** | ** ** | **12** | ** ** | **22 / 183** | ** ** | **10** | ** ** | **13 / 129** | ** ** |
|                                     |       |          |                                                                                             |                                   | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Income  Funds**                        |       |          |                                                                                             |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Flexible  Bond Fund                |       | May-07        |                                                                                             | Intermediate Investment Grade Debt     | ** ** | **8** | ** ** | **39 / 552** | ** ** | **6** | ** ** | **25 / 467** | ** ** | **12** | ** ** | **45 / 396** | ** ** | **33** | ** ** | **62 / 192** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Janus High-Yield  Fund                   |       | Dec-03        |                                                                                             | High Current Yield Funds               | ** ** | **50** | ** ** | **224 / 453** | ** ** | **35** | ** ** | **133 / 381** | ** ** | **78** | ** ** | **258 / 332** | ** ** | **20** | ** ** | **31 / 160** | ** ** | **42** | ** ** | **147 / 350** | ** ** |
| Janus Short-Term  Bond Fund              |       | May-07        |                                                                                             | Short Investment Grade Debt            | ** ** | **18** | ** ** | **45 / 263** | ** ** | **17** | ** ** | **34 / 210** | ** ** | **12** | ** ** | **19 / 162** | ** ** | **31** | ** ** | **26 / 84** | ** ** | ** ** | ** ** | **‡** | ** ** |
|                                     |       |          |                                                                                             |                                   | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Asset  Allocation Funds**              |       |          |                                                                                             |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Smart  Portfolio-Growth            |       | Dec-05        |                                                                                             | Mixed-Asset Target Alloc. Growth Funds | ** ** | **5** | ** ** | **29 / 667** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **11 / 586** | ** ** |
| Janus Smart  Portfolio-Moderate          |       | Dec-05        |                                                                                             | Mixed-Asset Target Alloc. Mod. Funds   | ** ** | **3** | ** ** | **12 / 457** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **5** | ** ** | **16 / 389** | ** ** |
| Janus Smart  Portfolio-Conservative      |       | Dec-05        |                                                                                             | Mixed-Asset Target Alloc. Cons. Funds  | ** ** | **3** | ** ** | **12 / 431** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **5 / 341** | ** ** |

 

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.

 

----

Notes:

(1)          Closed to newinvestors.

(2)          Ranking is forthe investor share class only; other classes may have different performancecharacteristics.

 ‡               The Fund’s sincePM-Inception ranking is not available.

 

----

 

**Janus Adviser Series (“JAD”)Class S Shares**

** **
| ** **                       | ** ** | ** **    | **Lipper Rankings Based on Total Returns as of 3/31/08** | ** **                           |       |
|----------------------------------|------------|---------------|--------------------------------------------------------------------------------------------------|--------------------------------------|------------|
| ** **                       | ** ** | ** **    | ** **                                                                                       | ** **                           | ** ** | **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 Fund                       |       | Jan-08        |                                                                                             | Large-Cap Growth Funds               | ** ** | **1** | ** ** | **4 / 739** | ** ** | **1** | ** ** | **3 / 615** | ** ** | **1** | ** ** | **2 / 521** | ** ** | **1** | ** ** | **1 / 247** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Mid Cap Growth  Fund             |       | Oct-07        |                                                                                             | Mid-Cap Growth Funds                 | ** ** | **12** | ** ** | **69 / 607** | ** ** | **6** | ** ** | **29 / 503** | ** ** | **11** | ** ** | **42 / 414** | ** ** | **42** | ** ** | **74 / 178** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Large Cap Growth  Fund           |       | Oct-07        |                                                                                             | Large-Cap Growth Funds               | ** ** | **51** | ** ** | **372 / 739** | ** ** | **39** | ** ** | **239 / 615** | ** ** | **32** | ** ** | **163 / 521** | ** ** | **35** | ** ** | **86 / 247** | ** ** | ** ** | ** ** | **‡** | ** ** |
| INTECH  Risk-Managed Growth Fund |       | Jan-03        |                                                                                             | Multi-Cap Growth Funds               | ** ** | **70** | ** ** | **369 / 527** | ** ** | **85** | ** ** | **343 / 403** | ** ** | **83** | ** ** | **284 / 343** | ** ** | **—** | ** ** | **—** | ** ** | **82** | ** ** | **279 / 340** | ** ** |
| Orion Fund                       |       | Dec-07        |                                                                                             | Mid-Cap Growth Funds                 | ** ** | **3** | ** ** | **18 / 607** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Small-Mid Growth  Fund           |       | Jun-06        |                                                                                             | Small-Cap Growth Funds               | ** ** | **9** | ** ** | **52 / 598** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **3** | ** ** | **16 / 544** | ** ** |
|                             |       |          |                                                                                             |                                 | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Core  Funds**                  |       |          |                                                                                             |                                 |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balanced Fund                    |       | Apr-05        |                                                                                             | Mixed-Asset Target Alloc. Mod. Funds | ** ** | **3** | ** ** | **18 / 667** | ** ** | **7** | ** ** | **34 / 539** | ** ** | **39** | ** ** | **166 / 425** | ** ** | **4** | ** ** | **7 / 228** | ** ** | **7** | ** ** | **39 / 559** | ** ** |
| Growth and Income  Fund          |       | Nov-07        |                                                                                             | Large-Cap Core Funds                 | ** ** | **30** | ** ** | **248 / 828** | ** ** | **30** | ** ** | **203 / 685** | ** ** | **40** | ** ** | **227 / 567** | ** ** | **—** | ** ** | **—** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Fundamental  Equity Fund         |       | Nov-07        |                                                                                             | Large-Cap Core Funds                 | ** ** | **18** | ** ** | **149 / 828** | ** ** | **4** | ** ** | **21 / 685** | ** ** | **8** | ** ** | **40 / 567** | ** ** | **1** | ** ** | **1 / 295** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Small Company  Value Fund        |       | Mar-02        |                                                                                             | Small-Cap Core Funds                 | ** ** | **66** | ** ** | **524 / 795** | ** ** | **40** | ** ** | **249 / 626** | ** ** | **60** | ** ** | **288 / 485** | ** ** | **—** | ** ** | **—** | ** ** | **25** | ** ** | **106 / 426** | ** ** |
| INTECH  Risk-Managed Core Fund   |       | Jan-03        |                                                                                             | Multi-Cap Core Funds                 | ** ** | **71** | ** ** | **611 / 869** | ** ** | **65** | ** ** | **425 / 663** | ** ** | **36** | ** ** | **179 / 504** | ** ** | **—** | ** ** | **—** | ** ** | **31** | ** ** | **152 / 494** | ** ** |
| Contrarian Fund                  |       | Aug-05        |                                                                                             | Multi-Cap Core Funds                 | ** ** | **7** | ** ** | **57 / 869** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **1** | ** ** | **3 / 708** | ** ** |
|                             |       |          |                                                                                             |                                 | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Global/International/  Funds** |       |          |                                                                                             |                                 |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| International  Growth Fund (1)   |       | Jun-03        |                                                                                             | International Funds                  | ** ** | **1** | ** ** | **6 / 1105** | ** ** | **1** | ** ** | **3 / 811** | ** ** | **1** | ** ** | **2 / 683** | ** ** | **2** | ** ** | **6 / 325** | ** ** | **1** | ** ** | **2 / 687** | ** ** |
| Worldwide Fund                   |       | Jun-04        |                                                                                             | Global Funds                         | ** ** | **53** | ** ** | **234 / 448** | ** ** | **82** | ** ** | **282 / 343** | ** ** | **97** | ** ** | **262 / 271** | ** ** | **72** | ** ** | **89 / 123** | ** ** | **80** | ** ** | **243 / 304** | ** ** |
| International  Equity Fund       |       | Nov-06        |                                                                                             | International Funds                  | ** ** | **5** | ** ** | **48 / 1105** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **3** | ** ** | **30 / 1038** | ** ** |
|                             |       |          |                                                                                             |                                 | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Value  Funds**                 |       |          |                                                                                             |                                 |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mid Cap Value  Fund              |       | Dec-02        |                                                                                             | Mid-Cap Value Funds                  | ** ** | **5** | ** ** | **15 / 330** | ** ** | **9** | ** ** | **23 / 256** | ** ** | **23** | ** ** | **46 / 203** | ** ** | **—** | ** ** | **—** | ** ** | **24** | ** ** | **48 / 201** | ** ** |
| INTECH  Risk-Managed Value Fund  |       | Dec-05        |                                                                                             | Multi-Cap Value Funds                | ** ** | **49** | ** ** | **214 / 441** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **50** | ** ** | **187 / 376** | ** ** |
|                             |       |          |                                                                                             |                                 | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Alternative  Funds**           |       |          |                                                                                             |                                 |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long/Short Fund (1)              |       | Aug-06        |                                                                                             | Long/Short Equity Funds              | ** ** | **5** | ** ** | **4 / 86** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **5** | ** ** | **3 / 64** | ** ** |
|                             |       |          |                                                                                             |                                 | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Income  Funds**                |       |          |                                                                                             |                                 |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Flexible Bond  Fund              |       | May-07        |                                                                                             | Intermediate Investment Grade Debt   | ** ** | **9** | ** ** | **48 / 552** | ** ** | **10** | ** ** | **45 / 467** | ** ** | **19** | ** ** | **73 / 396** | ** ** | **34** | ** ** | **65 / 192** | ** ** | ** ** | ** ** | **‡** | ** ** |
| High Yield Fund                  |       | Aug-05        |                                                                                             | High Current Yield Funds             | ** ** | **50** | ** ** | **223 / 453** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **57** | ** ** | **226 / 398** | ** ** |

 

Rankings are forthe Class S Shares only; other classes may have different performancecharacteristics.

 

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

** **
| ** **                         | ** ** | ** **    | **Lipper  Rankings Based on Total Returns as of 3/31/08** | ** **                            |
|------------------------------------|------------|---------------|-----------------------------------------------------------|---------------------------------------|
| ** **                         | ** ** | ** **    | ** **                                                | ** **                            | ** ** | **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**                   | ** ** | ** **    | ** **                                                | ** **                            | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Large Cap Growth  Portfolio        |       | Oct-07        |                                                      | VA Large-Cap Growth                   | ** ** | **35** | ** ** | **71 / 204** | ** ** | **26** | ** ** | **49 / 193** | ** ** | **27** | ** ** | **45 / 166** | ** ** | **42** | ** ** | **23 / 55** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Forty Portfolio                    |       | Dec-07        |                                                      | VA Large-Cap Growth                   | ** ** | **1** | ** ** | **1 / 204** | ** ** | **1** | ** ** | **1 / 193** | ** ** | **1** | ** ** | **1 / 166** | ** ** | **2** | ** ** | **1 / 55** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Mid Cap Growth Portfolio           |       | Oct-07        |                                                      | VA Mid-Cap Growth                     | ** ** | **5** | ** ** | **7 / 155** | ** ** | **3** | ** ** | **3 / 140** | ** ** | **10** | ** ** | **11 / 120** | ** ** | **40** | ** ** | **13 / 32** | ** ** | ** ** | ** ** | **‡** | ** ** |
|                               |       |          |                                                      |                                  | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Core Funds**                     | ** ** | ** **    | ** **                                                | ** **                            | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Balanced Portfolio                 |       | Apr-05        |                                                      | VA Mixed-Asset Target Alloc Mod.      | ** ** | **1** | ** ** | **1 / 133** | ** ** | **2** | ** ** | **1 / 90** | ** ** | **11** | ** ** | **8 / 73** | ** ** | **5** | ** ** | **2 / 41** | ** ** | **2** | ** ** | **1 / 98** | ** ** |
| Growth and Income Portfolio        |       | Nov-07        |                                                      | VA Large-Cap Core                     | ** ** | **22** | ** ** | **45 / 206** | ** ** | **18** | ** ** | **31 / 176** | ** ** | **33** | ** ** | **52 / 161** | ** ** | **—** | ** ** | **—** | ** ** | ** ** | ** ** | **‡** | ** ** |
| Fundamental Equity Portfolio       |       | Nov-07        |                                                      | VA Large-Cap Core                     | ** ** | **20** | ** ** | **40 / 206** | ** ** | **3** | ** ** | **5 / 176** | ** ** | **10** | ** ** | **15 / 161** | ** ** | **2** | ** ** | **1 / 73** | ** ** | ** ** | ** ** | **‡** | ** ** |
|                               |       |          |                                                      |                                  | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Global/International Funds**     | ** ** | ** **    | ** **                                                | ** **                            | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Worldwide Growth Portfolio         |       | Jun-04        |                                                      | VA Global                             | ** ** | **36** | ** ** | **37 / 104** | ** ** | **77** | ** ** | **61 / 79** | ** ** | **95** | ** ** | **64 / 67** | ** ** | **73** | ** ** | **21 / 28** | ** ** | **76** | ** ** | **59 / 77** | ** ** |
| International Growth Portfolio (1) |       | Jun-03        |                                                      | VA International                      | ** ** | **1** | ** ** | **2 / 245** | ** ** | **1** | ** ** | **1 / 209** | ** ** | **1** | ** ** | **1 / 188** | ** ** | **4** | ** ** | **3 / 87** | ** ** | **1** | ** ** | **1 / 198** | ** ** |
| Global Life Sciences Portfolio     |       | Oct-04        |                                                      | VA Health/Biotechnology               | ** ** | **6** | ** ** | **2 / 35** | ** ** | **21** | ** ** | **7 / 33** | ** ** | **25** | ** ** | **7 / 28** | ** ** | **—** | ** ** | **—** | ** ** | **3** | ** ** | **1 / 33** | ** ** |
| Global Technology Portfolio        |       | Jan-06        |                                                      | VA Science & Technology           | ** ** | **34** | ** ** | **20 / 59** | ** ** | **28** | ** ** | **16 / 57** | ** ** | **40** | ** ** | **22 / 54** | ** ** | **—** | ** ** | **—** | ** ** | **36** | ** ** | **21 / 58** | ** ** |
|                               |       |          |                                                      |                                  | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Value Funds**                    | ** ** | ** **    | ** **                                                | ** **                            | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Mid Cap Value Portfolio            |       | May-03        |                                                      | VA Mid-Cap Value                      | ** ** | **3** | ** ** | **2 / 68** | ** ** | **12** | ** ** | **7 / 58** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **1 / 53** | ** ** |
|                               |       |          |                                                      |                                  | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Income Funds**                   | ** ** | ** **    | ** **                                                | ** **                            | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Flexible Bond Portfolio            |       | May-07        |                                                      | VA Intermediate Investment Grade Debt | ** ** | **29** | ** ** | **19 / 65** | ** ** | **26** | ** ** | **15 / 58** | ** ** | **28** | ** ** | **14 / 49** | ** ** | **29** | ** ** | **6 / 20** | ** ** | ** ** | ** ** | **‡** | ** ** |

 

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.

 

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Note:

(1)  Closed to newinvestors.

 ‡ The Fund’s since PM-Inception ranking is notavailable.

 

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