Approximately 180 Janus employees became owners of an additional 6.2% of
Janus Capital as the re-equitization plan originally announced by Stilwell Financial on February 15 became effective.

As part of the plan, Janus was converted to a limited liability company, Janus Capital Management LLC.

The employees’ new ownership stake is the result of two events. The first is a one-time award of 5% of the company that vests at the end of seven years. The other is a regular annual award through Janus’ long-term incentive program that vests at the end of five years.

Vesting of both awards will accelerate if Janus meets prescribed investment performance targets.

Stilwell Financial has been the majority owner of Janus since 1984 and owned
98% of the firm prior to the most recent awards. Stilwell stock options are
also part of this year’s long-term incentive award and are expected to be an
ongoing part of the incentive program.