JANUS INVESTMENT FUND
497, 1997-08-12
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                              JANUS INVESTMENT FUND
                               JANUS VENTURE FUND
     Supplement dated August 12, 1997 to Prospectus dated February 17, 1997

THIS  SUPPLEMENT IS INTENDED TO BE USED WITH THE  PROSPECTUS  DATED FEBRUARY 17,
1997. THIS SUPPLEMENT, TOGETHER WITH THE PROSPECTUS PREVIOUSLY FURNISHED TO YOU,
CONSTITUTE A CURRENT  PROSPECTUS.  TO REQUEST  ANOTHER  COPY OF THE  PROSPECTUS,
PLEASE CALL 1-800-525-3713.

Effective  August 12,  1997,  Thomas F.  Marsico is no longer  employed by Janus
Capital  Corporation,  investment adviser to the Janus funds. Janus Venture Fund
will continue to be managed by a team  consisting of James P. Craig,  William H.
Bales, and Jonathan D. Coleman.



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