Exhibit 7(bb)


                                LETTER AGREEMENT


                                             September 13, 2001


Mr. Donald E. Colombo
Citibank, N.A.
Worldwide Securities Services
111 Wall Street, 16/2
New York, NY 10043

Dear Mr. Colombo:

Please be advised that Janus Investment Fund (the "Trust") has established Janus
Institutional  Cash  Reserves  Fund as a new  series of the Trust.  Pursuant  to
Section  25(H) of the  Custodian  Contract  dated  March 15,  1999,  as amended,
between the Trust and Citibank,  N.A.  ("Citibank"),  the Trust hereby  requests
confirmation  that  Citibank  will act as custodian for the new series under the
terms of the contract.

Please indicate your acceptance of the foregoing by executing two copies of this
Letter  Agreement,  returning  one copy to the Trust and  retaining one copy for
your records.

JANUS INVESTMENT FUND


By: ____________________________
    Kelley Abbott Howes
    Vice President


CITIBANK, N.A.


By: _____________________________


Agreed to this 13th day of September, 2001.


cc:   Glenn O'Flaherty
      Bonnie M. Howe
      Cindy Antonson
      Molly E. Roll