Blazzard, Grodd & Hasenauer, P.C.
ATTORNEYS AT LAW CONNECTICUT OFFICE:
943 POST ROAD EASTo P.O. BOX 5108
NORSE N. BLAZZARD** WESTPORT, CONNECTICUT 06881-5108
LESLIE E. GRODD* TELEPHONE (203)226-7866
JUDITH A. HASENAUER** FACSIMILE (203)454-4028
WILLIAM E. HASENAUER*
RAYMOND A. O'HARA III FLORIDA OFFICE:
LYNN KORMAN STONE 4401 WEST TRADEWINDS AVENUE-SUITE 207
LAUDERDALE BY THE SEA, FLORIDA 33308
TELEPHONE (954)771-6667
* Admitted in Connecticut FACSIMILE (954)771-7689
** Admitted in Connecticut and Florida
November 2, 2000
Board of Trustees
JNL Investors Series Trust
One Corporate Way
Lansing, MI 48951
Re: Opinion of Counsel - JNL Investors Series Trust
Ladies and Gentlemen:
You have requested our Opinion of Counsel in connection with the filing
with the Securities and Exchange Commission of Pre-Effective Amendment No. 1 to
the Registration Statement on Form N-1A with respect to the JNL Investors Series
Trust.
We have made such examination of the law and have examined such records
and documents as in our judgment are necessary or appropriate to enable us to
render the opinions expressed below.
We are of the following opinions:
1. JNL Investors Series Trust ("Trust") is a valid and existing
unincorporated voluntary association, commonly known as a
business trust.
2. The Trust is a business Trust created and validly existing
pursuant to the Massachusetts Laws.
<PAGE>
Board of Trustees
JNL Investors Series Trust
November 2, 2000
Page 2
3. All of the prescribed Trust procedures for the issuance of the
shares have been followed, and, when such shares are issued in
accordance with the Prospectus contained in the Registration
Statement for such shares, all state requirements relating to
such Trust shares will have been complied with.
4. Upon the acceptance of purchase payments made by shareholders
in accordance with the Prospectus contained in the
Registration Statement and upon compliance with applicable
law, such shareholders will have legally-issued, fully paid,
non-assessable shares of the Trust.
You may use this opinion letter, or a copy thereof, as an exhibit to
the Registration.
Sincerely,
BLAZZARD, GRODD & HASENAUER, P.C.
By: /s/RAYMOND A. O'HARA III
-------------------------
Raymond A. O'Hara III
