Sec Form 4 Filing - BLUHER JOHN H @ JANUS CAPITAL GROUP INC - 2007-03-07

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person BLUHER JOHN H 2. Issuer Name and Ticker or Trading Symbol JANUS CAPITAL GROUP INC [ JNS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) X __ Other (specify below) Former EVP, GC, Secretary (Last) (First) (Middle) 151 DETROIT STREET 3. Date of Earliest Transaction (MM/DD/YY) 03/07/2007 (Street) DENVER, CO80206 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 45,337 ( 1 ) D Common Stock 03/07/2007 F( 2 ) V 10,077 D $ 20.12 35,260 D Common Stock 666.53 ( 3 ) I Held by ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Option (Right to Buy) $ 21.57 03/03/2007 08/31/2007 Common Stock 9,302 ( 4 ) 9,302 ( 4 ) D Stock Option (Right to Buy) $ 14.39 03/03/2007( 5 ) 08/31/2007 Common Stock 30,569 30,569 D Stock Option (Right to Buy) $ 13.59 03/03/2007( 5 ) 08/31/2007 Common Stock 38,989 38,989 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BLUHER JOHN H 151 DETROIT STREET DENVER, CO80206 Former EVP, GC, Secretary Signatures Wanette N. Pauly, Attorney-in-Fact for John H. Bluher 03/09/2007 Signature of Reporting Person Date

Explanation of Responses:

( 1 )11,120 unvested shares of restricted stock were forfeited effective upon his termination of employment. ( 2 )The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 plan adopted by the reporting person to cover tax liabilities arising from vesting events. ( 3 )Includes shares contributed by issuer to reporting person under the Employee Stock Ownership Plan ("ESOP") and reflect total number of shares held in the ESOP as of March 9, 2007. ( 4 )13,954 unvested shares of the option award were forfeited effective upon his termination employment. ( 5 )Vesting of the option award was accelerated pursuant to the reporting person's award agreement.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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