JANUS ASPEN SERIES
Supplement Dated June 3, 1996
to Statement of Additional Information Dated May 1, 1996
This supplement updates the section of the Statement of Additional Information
entitled "Investment Adviser" on pages 16-17. The following paragraph should
follow the third paragraph on page 17:
In addition, Janus Capital has agreed for the period from June 3, 1996 until at
least April 30, 1997 to waive its fee and, if necessary, reimburse International
Growth Portfolio by the amount, if any, that such Portfolio's normal operating
expenses chargeable to its income account, including the investment advisory fee
but excluding brokerage commissions, interest, taxes and extraordinary expenses,
exceed 1.25% of average daily net assets of the Portfolio on an annualized basis
during that period. Mortality risk, expense risk and other charges imposed by
participating insurance companies are excluded from the above expense
limitation.
