JANUS ASPEN SERIES
497, 1998-09-15
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                               Janus Aspen Series

       Supplement Dated September 15, 1998 to Prospectus Dated May 1, 1998

THIS  INFORMATION  SUPPLEMENTS  THE PROSPECTUS FOR THE  INSTITUTIONAL  SHARES OF
JANUS  ASPEN  SERIES  DATED MAY 1,  1998.  THIS  SUPPLEMENT,  TOGETHER  WITH THE
PROSPECTUS,  CONSTITUTE  A CURRENT  PROSPECTUS.  TO REQUEST  ANOTHER COPY OF THE
PROSPECTUS PLEASE CONTACT YOUR INSURANCE COMPANY OR PLAN SPONSOR.

Effective September 15, 1998, Janus Distributors,  Inc. ("Janus  Distributors"),
100 Fillmore Street, Denver,  Colorado 80206-4928,  a wholly-owned subsidiary of
Janus Capital, is a distributor of the Institutional Shares of each Portfolio of
Janus Aspen Series.  Janus  Distributors is registered as a broker-dealer  under
the Securities Exchange Act of 1934 and is a member of the National  Association
of Securities Dealers, Inc.



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