EXHIBIT 99.1

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Media Contact: Kekst & Co. STILWELL
Michael Herley (212-521-4897) FINANCIAL INC.

Investor Contact: 920 Main Street, 21/st/ Floor
Landon H. Rowland (816-218-2416) Kansas City, Missouri 64105
Chairman, President and CEO NYSE Symbol:SV
Daniel P. Connealy (816-218-2412)
Vice President and Chief Financial Officer Release No. 2001-24 Date:October 3, 2001
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{News Release}

STILWELL FINANCIAL INC. ANNOUNCES
ACQUISITION OF REMAINING SHARES
OF THOMAS BAILEY'S JANUS COMMON STOCK

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Kansas City, Missouri

Stilwell Financial Inc. ("Stilwell" or the "Company"; NYSE: SV) announced
that it expects to purchase the remaining 600,000 shares of Janus Capital
Corporation ("Janus") common stock held by Thomas H. Bailey, the President,
Chairman and Chief Executive Officer of Janus. After completion of the
transaction, expected to occur within 120 days, Stilwell will own approximately
97.8% of Janus, with the remainder owned by Janus employees. Mr. Bailey is
expected to continue in his current role with Janus.

The acquisition of the common stock by Stilwell, which is pursuant to the
exercise today by Mr. Bailey of put rights that were included in the 1984 Stock
Purchase Agreement, will cost approximately $603 million. Stilwell currently
has resources available - cash and existing credit facilities - to complete the
transaction. As with the purchase of shares earlier in 2001, however, Stilwell
is currently evaluating alternative financing arrangements before completing the
transaction.

Under the terms of the 1984 purchase of Janus, Mr. Bailey retained certain
contractual management and board selection rights with respect to Janus.
Although Mr. Bailey will continue as a director of Janus, these rights will
terminate upon completion of Stilwell's purchase of Mr. Bailey's remaining Janus
shares. Because termination of these rights may be deemed to result in an
assignment of the investment advisory and distribution agreements between Janus
and various mutual funds for which Janus serves as adviser or sub-adviser,
certain of these agreements as appropriate will be submitted to the trustees or
shareholders for their approval.

Mr. Bailey commented: "This is simply a prudent economic decision. This
transaction doesn't change our day-to-day business and I have every intention of
staying at Janus as CEO."

Landon H. Rowland, Stilwell's Chairman, President and Chief Executive
Officer, commented: "We fully understand Tom's economic decision to sell his
shares and we believe that Tom's ongoing role with Janus will be important in
building on the tremendous success that Janus has experienced. The additional
600,000 shares of Janus common stock provide Stilwell greater flexibility in
designing and implementing meaningful share ownership throughout the Janus
organization as we have with our other subsidiaries. The Janus franchise
continues to be vital in creating long-term value for the Janus and Stilwell
shareholders - an objective that remains our ultimate priority."

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Media Contact: Kekst & Co. STILWELL
Michael Herley (212-521-4897) FINANCIAL INC.

STILWELL FINANCIAL INC. ANNOUNCES
ACQUISITION OF REMAINING SHARES
OF THOMAS BAILEY'S HANUS COMMON STOCK

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Stilwell is a diversified, global financial services company with
operations through its subsidiaries and affiliates in North America, Europe and
Asia. The primary entities comprising Stilwell are Janus Capital Corporation, an
approximately 91.6% owned subsidiary; Berger LLC, of which Stilwell owns 100% of
the preferred limited liability company interests and approximately 87% of the
regular limited liability company interests; Nelson Money Managers Plc, an 80%
owned subsidiary; and DST Systems, Inc., an equity investment in which Stilwell
holds an approximate 33% interest.

* * * * * * * * * *

This press release includes statements concerning potential future events
involving the Company, which could materially differ from the events that
actually occur. The differences could be caused by a number of factors including
those factors identified in Stilwell's Registration Statement on Form 10 dated
June 15, 2000 and Stilwell's Annual Report on Form 10-K for the year ended
December 31, 2000, both on file with the Securities and Exchange Commission
(Commission file no. 001-15253). The Company will not update any forward-looking
statements in this press release to reflect future events or developments.

............. The End