Janus Aspen Series Balanced Portfolio

INVESTMENT OBJECTIVE
Long-term growth of capital, consistent with the preservation of capital and balanced by current income. There can be no assurance that the investment objective will be achieved.
INVESTMENT DISCIPLINE
40%-60% of securities selected for growth potential and 40%-60% of securities selected for income potential. This Portfolio normally invests at least 25% of its assets in fixed-income senior securities. The Portfolio may invest in foreign securities. Foreign investments are subject to the risks of currency fluctuation and the impact of social, political, and economic change, which may result in greater share price volatility.

Performance (As of 12/31/2009)

Performance Chart

	YTD	1-YEAR	3-YEAR	5-YEAR	10-YEAR	SINCE INCEPTION
PORTFOLIO: Service Shares	25.58	25.58	5.15	6.68	4.07	10.14
S&P 500 INDEX	26.47	26.47	-5.62	0.42	-0.95	7.55
LIPPER MIXED ASSET ALLOC. MODERATE FUNDS AVERAGE	22.97	22.97	-0.81	2.54	2.79	6.02

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS. THE INVESTMENT RETURN AND PRINCIPAL VALUE OF AN INVESTMENT WILL FLUCTUATE SO THAT AN INVESTOR'S UNITS, WHEN REDEEMED, MAY BE WORTH MORE OR LESS THAN THEIR ORIGINAL COST. CURRENT PERFORMANCE MAY BE LOWER OR HIGHER THAN THE PAST PERFORMANCE DATA QUOTED. PERFORMANCE INFORMATION AS OF THE MOST RECENT MONTH-END IS AVAILABLE AT WWW.PRUDENTIAL.COM.

Returns shown for Service Shares for periods prior to their inception (December 31, 1999) are derived from the historical performance of the Institutional shares (Inception date - September 13, 1993), adjusted to reflect the higher operating expenses of Service Shares.Unless noted otherwise, Lipper Average and Index returns reflect performance beginning the closest month-end date to the Portfolio's inception (Institutional Shares September 13, 1993).The rates of return reflect the reinvestment of all dividends and capital gains, and the deduction of investment management fees and expenses. They do not reflect charges specific to your contract such as cost of insurance, mortality and expense risk charges, riders and sales charges. If they did, the performance quoted would be significantly lower. For the specific charges and expenses associated with your product, please refer to the prospectus. Returns of less than one year are not annualized. For variable life insurance products, refer to the hypothetical illustrations in the prospectus, which show the effect on performance of various assumptions regarding the cost of insurance protection. You may also obtain a personalized illustration of historical performance, which reflects the cost of your policy's insurance protection.

Fund Facts & Holdings (As of 12/31/2009 unless noted otherwise)

Portfolio Data²

Inception Date-Service Shares : 12/31/1999
Number of Holdings : 312
Net Assets : $1.7 Billion

Largest Stock Holdings (% of Assets)²
Reckitt Benckiser	3.5%
Apple	3.4
Philip Morris International Inc.	3.3
Morgan Stanley	3.3
EnCana	3.2
Anheuser-Busch InBev	3.1
Bristol-Meyers Squibb	3.0
Roche Holdings AG	2.9
Oracle	2.7
Nestle Sa	2.6

Industry Breakdown (% of Assets)²
Information Technology	19.0%
Financials	14.6
Healthcare	12.7
Energy	12.0
Consumer Staples	11.7
Industrials	10.3
Consumer Discretionary	9.4
Utilities	3.7
Materials	3.5
Telecommunications	3.1

PORTFOLIO MANAGEMENT

E. Mark Pinto, CFA is Portfolio Manager for the Large Cap Growth and Opportunistic Growth disciplines. Mr. Pinto is also Co-Portfolio Manager of Janus Balanced Fund and Janus Aspen Balanced Portfolio, as well as Portfolio Manager of Janus Growth and Income Fund and Janus Aspen Growth and Income Portfolio. He joined Janus in September 1994 as a research analyst. Prior to joining Janus, he worked as an associate in the investment banking division at Goldman Sachs and as a research associate at Fred Alger Management. Mr. Pinto received his bachelor of ars degree in history from Yale University and his MBA from Harvard Business School, where he graduated with distinction. He holds the Chartered Financial Analyst designation and has 24 years of professional investment experience.

Gibson Smith, is Co-Chief Investment Officer. a position he has held since January 2006. He is also a member of Janus' Executive Committee. As Co-Chief Investment Officer, Mr. Smith is responsible for Janus' investment process across the firm's equity, fixed-income and money market teams. The Director of Research, Director of Trading & Risk Management and the client portfolio management group also report to the Co-chief Investment Officers. Mr. Smith also serves as Executive Vice President and Co-Portfolio Manager of the High Yield discipline and the Balanced and Flexible Bond disciplines. He joined Janus in January 2001 as a fixed income analyst. Prior to that, Mr. Smith was Vice President in the fixed-income division at Morgan Stanley. He earned a bachelor of arts degree in economics from the University of Colorado and has 18 years of professional investment experience.

FIRM OVERVIEW

Founded in 1969.
Recognized leader in the financial services industry.
Manages over $151.8 billion in assets as of 9/30/09.

Investors should consider the contract and the underlying portfolios' investment objectives, risks, and charges and expenses carefully before investing. The contract's prospectus and the underlying portfolios' prospectus contain this and other important information. Read them carefully before investing or sending money.

FOR USE WITH THE PUBLIC ONLY WHEN PRECEDED OR ACCOMPANIED BY A CURRENT VARIABLE PRODUCT PROSPECTUS, PRODUCT MATERIAL (product brochure or illustration) AND THE CURRENT MONTHLY PERFORMANCE REVIEW FOR THE SPECIFIC PRODUCT.

²Source: Janus Capital Management LLC. Holdings are unaudited and subject to change. All data came to Prudential Financial directly from Janus Capital Management LLC. Prudential Financial does not guarantee the accuracy or completeness thereof. Negative holding percentages reflect outstanding trades at period end.

The S&P 500 Index is an unmanaged, market value-weighted index of 500 stocks generally representative of the broad stock market.

The Lipper (VIP) Mixed Asset Allocation Moderate Funds Average is calculated by Lipper Analytical Services, Inc., and reflects Funds that maintain a mix of between 40%-60% equity securities, with the remainder invested in bonds, cash, and cash equivalents. These returns are net of investment fees and fund expenses, but not product charges. Investors cannot invest directly in a market index or average.

Variable life insurance and variable annuities are issued by The Prudential Insurance Company of America, Newark, NJ, Pruco Life Insurance Company, Pruco Life Insurance Company of New Jersey, both located in Newark, NJ, or Prudential Annuities Life Assurance Corporation, Shelton, CT. Variable life insurance is distributed by Pruco Securities LLC, Newark, NJ. Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT. Both are members SIPC. All are Prudential Financial companies. Each company is solely responsible for their own respective financial conditions and contractual obligations.

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Prudential is authorized to transact business in all U.S. states and the District of Columbia. Product availability varies by state. © Copyright 2002 Prudential Financial, Inc., Newark, NJ, USA. All rights reserved.

IFS-A118374
Ed. 5/2009