**Exhibit 99.1**

 

**JanusInvestment Fund (“JIF”)**

 
| ** **                                 | ** ** | ** **    | ** ** | ** **                                 | ** ** | **Lipper Rankings Based on Total Returns as of 6/30/08** | ** ** |
|--------------------------------------------|------------|---------------|------------|--------------------------------------------|------------|--------------------------------------------------------------------------------------------------|------------|
| ** **                                 | ** ** | ** **    | ** ** | ** **                                 | ** ** | **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**                                                                                            | ** ** | **1 / 756** | ** ** | **1** | ** ** | **1 / 641** | ** ** | **1** | ** ** | **1 / 530** | ** ** | **2** | ** ** | **4 / 259** | ** ** | ** ** | **‡** | ** ** | ** ** |
| Janus Fund                                 |       | Oct-07        |       | Large-Cap Growth Funds                     | ** ** | **55**                                                                                           | ** ** | **411 /  756** | ** ** | **29** | ** ** | **183 /  641** | ** ** | **33** | ** ** | **175 /  530** | ** ** | **45** | ** ** | **117 /  259** | ** ** | ** ** | **‡** | ** ** | ** ** |
| Janus Orion Fund                           |       | Dec-07        |       | Multi-Cap Growth Funds                     | ** ** | **3**                                                                                            | ** ** | **12 / 493** | ** ** | **2** | ** ** | **6 / 374** | ** ** | **1** | ** ** | **1 / 314** | ** ** | **—** | ** ** | **—** | ** ** | ** ** | **‡** | ** ** | ** ** |
| Janus Research  Fund                       |       | Jan-06        |       | Large-Cap Growth Funds                     | ** ** | **46**                                                                                           | ** ** | **342 /  756** | ** ** | **7** | ** ** | **43 / 641** | ** ** | **9** | ** ** | **46 / 530** | ** ** | **4** | ** ** | **10 / 259** | ** ** | **6** | ** ** | **37 / 679** | ** ** |
| Janus Enterprise  Fund                     |       | Oct-07        |       | Mid-Cap Growth Funds                       | ** ** | **13**                                                                                           | ** ** | **75 / 596** | ** ** | **8** | ** ** | **40 / 501** | ** ** | **7** | ** ** | **27 / 408** | ** ** | **44** | ** ** | **79 / 181** | ** ** | ** ** | **‡** | ** ** | ** ** |
| Janus Venture  Fund (1)                    |       | Jan-01        |       | Small-Cap Growth Funds                     | ** ** | **88**                                                                                           | ** ** | **532 /  604** | ** ** | **44** | ** ** | **212 /  486** | ** ** | **23** | ** ** | **91 / 400** | ** ** | **33** | ** ** | **63 / 192** | ** ** | **28** | ** ** | **85 / 307** | ** ** |
| Janus Triton Fund                          |       | Jun-06        |       | Small-Cap Growth Funds                     | ** ** | **20**                                                                                           | ** ** | **119 /  604** | ** ** | **5** | ** ** | **24 / 486** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **8** | ** ** | **38 / 539** | ** ** |
| **Core  Funds**                            |       |          |       |                                       |       |                                                                                             |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Contrarian  Fund                     |       | Feb-00        |       | Multi-Cap Core Funds                       | ** ** | **47**                                                                                           | ** ** | **392 /  847** | ** ** | **1** | ** ** | **6 / 664** | ** ** | **1** | ** ** | **4 / 486** | ** ** | **—** | ** ** | **—** | ** ** | **7** | ** ** | **18 / 276** | ** ** |
| Janus Growth and  Income Fund              |       | Nov-07        |       | Large-Cap Core Funds                       | ** ** | **44**                                                                                           | ** ** | **358 /  817** | ** ** | **34** | ** ** | **233 /  692** | ** ** | **23** | ** ** | **132 /  574** | ** ** | **11** | ** ** | **33 / 323** | ** ** | ** ** | **‡** | ** ** | ** ** |
| Janus Balanced  Fund                       |       | Apr-05        |       | Mixed-Asset Target Alloc. Mod. Funds       | ** ** | **3**                                                                                            | ** ** | **10 / 462** | ** ** | **4** | ** ** | **12 / 361** | ** ** | **14** | ** ** | **32 / 239** | ** ** | **7** | ** ** | **9 / 141** | ** ** | **2** | ** ** | **6 / 359** | ** ** |
| Janus Fundamental  Equity Fund             |       | Nov-07        |       | Large-Cap Core Funds                       | ** ** | **35**                                                                                           | ** ** | **280 /  817** | ** ** | **11** | ** ** | **73 / 692** | ** ** | **4** | ** ** | **19 / 574** | ** ** | **3** | ** ** | **7 / 323** | ** ** | ** ** | **‡** | ** ** | ** ** |
| INTECH  Risk-Managed Stock Fund            |       | Feb-03        |       | Multi-Cap Core Funds                       | ** ** | **41**                                                                                           | ** ** | **344 /  847** | ** ** | **63** | ** ** | **415 /  664** | ** ** | **28** | ** ** | **132 /  486** | ** ** | **—** | ** ** | **—** | ** ** | **39** | ** ** | **182 /  475** | ** ** |
| **Global/International  Funds**            |       |          |       |                                       |       |                                                                                             |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Overseas  Fund (1)                   |       | Jun-03        |       | International Funds                        | ** ** | **10**                                                                                           | ** ** | **108 /  1141** | ** ** | **1** | ** ** | **2 / 815** | ** ** | **1** | ** ** | **1 / 676** | ** ** | **4** | ** ** | **13 / 339** | ** ** | **1** | ** ** | **2 / 674** | ** ** |
| Janus Worldwide  Fund                      |       | Jun-04        |       | Global Funds                               | ** ** | **95**                                                                                           | ** ** | **422 /  446** | ** ** | **91** | ** ** | **317 /  350** | ** ** | **98** | ** ** | **263 /  268** | ** ** | **95** | ** ** | **117 /  123** | ** ** | **94** | ** ** | **279 /  298** | ** ** |
| Janus Global Life  Sciences Fund           |       | Apr-07        |       | Global Healthcare/Biotechnology Funds      | ** ** | **3**                                                                                            | ** ** | **2 / 70** | ** ** | **21** | ** ** | **11 / 53** | ** ** | **3** | ** ** | **1 / 48** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **1 / 69** | ** ** |
| Janus Global  Technology Fund              |       | Jan-06        |       | Global Science & Technology Funds | ** ** | **34**                                                                                           | ** ** | **36 / 108** | ** ** | **16** | ** ** | **16 / 102** | ** ** | **36** | ** ** | **32 / 90** | ** ** | **—** | ** ** | **—** | ** ** | **20** | ** ** | **20 / 103** | ** ** |
| Janus Global  Research Fund                |       | Feb-05        |       | Global Funds                               | ** ** | **9**                                                                                            | ** ** | **38 / 446** | ** ** | **5** | ** ** | **16 / 350** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **4** | ** ** | **10 / 323** | ** ** |
| Janus Global  Opportunities Fund           |       | Jun-01        |       | Global Funds                               | ** ** | **96**                                                                                           | ** ** | **426 /  446** | ** ** | **98** | ** ** | **343 /  350** | ** ** | **83** | ** ** | **221 /  268** | ** ** | **—** | ** ** | **—** | ** ** | **41** | ** ** | **84 / 206** | ** ** |
| **Value  Funds**                           |       |          |       |                                       |       |                                                                                             |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Mid Cap  Value Fund - Inv (2)        |       | Aug-98        |       | Mid-Cap Value Funds                        | ** ** | **7**                                                                                            | ** ** | **24 / 343** | ** ** | **11** | ** ** | **28 / 270** | ** ** | **15** | ** ** | **31 / 209** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **1 / 67** | ** ** |
| Janus Small Cap  Value Fund - Inv. (1),(2) |       | Feb-97        |       | Small-Cap Core Funds                       | ** ** | **24**                                                                                           | ** ** | **182 /  786** | ** ** | **40** | ** ** | **249 /  628** | ** ** | **52** | ** ** | **251 /  486** | ** ** | **18** | ** ** | **33 / 193** | ** ** | **17** | ** ** | **21 / 125** | ** ** |
| **Income  Funds**                          |       |          |       |                                       |       |                                                                                             |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Flexible  Bond Fund                  |       | May-07        |       | Intermediate Investment Grade Debt         | ** ** | **10**                                                                                           | ** ** | **51 / 557** | ** ** | **8** | ** ** | **34 / 464** | ** ** | **18** | ** ** | **67 / 393** | ** ** | **36** | ** ** | **67 / 189** | ** ** | **12** | ** ** | **60 / 544** | ** ** |
| Janus High-Yield  Fund                     |       | Dec-03        |       | High Current Yield Funds                   | ** ** | **74**                                                                                           | ** ** | **340 /  460** | ** ** | **60** | ** ** | **232 /  387** | ** ** | **65** | ** ** | **218 /  339** | ** ** | **24** | ** ** | **39 / 167** | ** ** | **51** | ** ** | **175 /  348** | ** ** |
| Janus Short-Term  Bond Fund                |       | May-07        |       | Short Investment Grade Debt                | ** ** | **37**                                                                                           | ** ** | **97 / 263** | ** ** | **28** | ** ** | **59 / 212** | ** ** | **22** | ** ** | **35 / 165** | ** ** | **32** | ** ** | **27 / 84** | ** ** | **36** | ** ** | **94 / 262** | ** ** |
| **Asset  Allocation Funds**                |       |          |       |                                       |       |                                                                                             |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Smart Portfolio-Growth               |       | Dec-05        |       | Mixed-Asset Target Alloc. Growth Funds     | ** ** | **9**                                                                                            | ** ** | **53 / 655** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **3** | ** ** | **13 / 563** | ** ** |
| Janus Smart  Portfolio-Moderate            |       | Dec-05        |       | Mixed-Asset Target Alloc. Mod. Funds       | ** ** | **6**                                                                                            | ** ** | **26 / 462** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **7 / 393** | ** ** |
| Janus Smart  Portfolio-Conservative        |       | Dec-05        |       | Mixed-Asset Target Alloc. Cons. Funds      | ** ** | **17**                                                                                           | ** ** | **69 / 429** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **6 / 338** | ** ** |

 

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 the performanceof mutual funds within a universe of funds that have similar investmentobjectives.  Rankings are historical withcapital gains and dividends reinvested. If an expense waiver was in effect, itmay have had a material effect on the total return or yield for 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.

 

----

 

**JanusAdviser 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  Inception** | ** ** | **Lipper Category**             | ** ** | **Percentile  Rank (%)**                                                                    | ** ** | **Rank /  Total Funds** | ** ** | **Percentile  Rank (%)** | ** ** | **Rank /  Total Funds** | ** ** | **Percentile  Rank (%)** | ** ** | **Rank /  Total Funds** | ** ** | **Percentile  Rank (%)** | ** ** | **Rank /  Total Funds** | ** ** | **Percentile  Rank (%)** | ** ** | **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.

 

----

Note:

(1)  Closed to newinvestors.

 ‡  The Fund’s since PM-Inceptionranking is not available.

** **

**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  Inception** | ** ** | **Lipper  Category**                  | ** ** | **Percentile  Rank (%)**                                  | ** ** | **Rank /  Total Funds** | ** ** | **Percentile  Rank (%)** | ** ** | **Rank /  Total Funds** | ** ** | **Percentile  Rank (%)** | ** ** | **Rank /  Total Funds** | ** ** | **Percentile  Rank (%)** | ** ** | **Rank /  Total Funds** | ** ** | **Percentile  Rank (%)** | ** ** | **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.

 

----

Note:

(1)  Closed to newinvestors.

 ‡  The Fund’s since PM-Inceptionranking is not available.

 

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.

 

----