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JANUS ASPEN SERIES
Supplement Dated January 13, 1997 to Prospectus Dated May 1, 1996
THIS SUPPLEMENT IS INTENDED TO BE USED WITH THE PROSPECTUS DATED MAY 1, 1996.
THIS SUPPLEMENT, TOGETHER WITH THE PROSPECTUS AND ANY OTHER SUPPLEMENTS
PREVIOUSLY FURNISHED TO YOU, CONSTITUTE A CURRENT PROSPECTUS. TO REQUEST ANOTHER
COPY OF THE PROSPECTUS, PLEASE CALL YOUR INSURANCE COMPANY.
On January 13, 1997, Ronald V. Speaker, the manager of the Flexible Income
Portfolio, settled an SEC administrative action involving two personal trades
made by him in January of 1993. Without admitting or denying the allegations,
Mr. Speaker agreed to civil money penalty, disgorgement and interest payments
totaling $37,199 and to a 90-day suspension starting on or about January 27,
1997.
Sandy R. Rufenacht has been appointed co-manager of the Flexible Income
Portfolio and will manage the Portfolio during Mr. Speaker's absence. He is also
Executive Vice President and portfolio manager of Janus Intermediate Government
Securities Fund and Janus Short-Term Bond Fund, each of which he has managed
since January 1996, and Executive Vice President and co-manager of Janus
Flexible Income Fund and Janus High-Yield Fund, each of which he has co-managed
since June 1996. Mr. Rufenacht jointed Janus Capital Corporation in 1990 and
gained experience as a trader and research analyst before assuming management
responsibilities. He holds a Bachelor of Arts in Business from the University of
Northern Colorado.
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