UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No.: 1*
Name of Issuer: Bemis Company, Inc.
Title of Class of Securities: Common Stock
CUSIP Number: 08143710-5
Date of Event Which Requires Filing of this Statement: 12/31/2003
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed.
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to
the liabilities of that section of the Act but shall be subject to
all other provisions of the Act (however, see the Notes).
CUSIP No.: 08143710-5
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Janus Capital Management LLC
EIN #75-3019302
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
a. ___
b. _X_
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
2,880,495**
6. SHARED VOTING POWER
-0-
7. SOLE DISPOSITIVE POWER
2,880,495**
8. SHARED DISPOSITIVE POWER
-0-
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,880,495**
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.4%**
12. TYPE OF REPORTING PERSON
IA, HC
** See Item 4 of this filing
CUSIP No.: 08143710-5
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Janus Fund
84-0592523
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
a. ___
b. _X_
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
2,439,795**
6. SHARED VOTING POWER
-0-
7. SOLE DISPOSITIVE POWER
2,439,795**
8. SHARED DISPOSITIVE POWER
-0-
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,439,795**
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.6%**
12. TYPE OF REPORTING PERSON
IV
** See Item 4 of this filing
Item 1.
(a). Name of Issuer: Bemis Company, Inc. ("Bemis Company")
(b). Address of Issuer's Principal Executive Offices:
222 South 9th Street, Suite 2300
Minneapolis, MN 55402
Item 2.
(a).-(c). Name, Principal Business Address, and Citizenship of
Persons
Filing:
(1) Janus Capital Management LLC ("Janus Capital")
100 Fillmore Street
Denver, Colorado 80206-4923
Citizenship: Delaware
(2) Janus Fund
100 Fillmore Street
Denver, Colorado 80206-4923
Citizenship: Massachusetts
(d). Title of Class of Securities: Common Stock
(e). CUSIP Number: 08143710-5
Item 3.
This statement is filed pursuant to Rule 13d-1 (b) or 13d-2(b) and
the person filing, Janus Capital, is an investment adviser in
accordance with Section 240.13d-1(b)(ii)(E) as well as a parent
holding company/control person in accordance with Section 240.13d-
1(b)(ii)(G). See Item 4 for additional information.
Janus Fund is an Investment Company registered under Section 8 of
the Investment Company Act of 1940.
Item 4. Ownership
The information in items 1 and 5 through 11 on the cover page(s)
on Schedule 13G is hereby incorporated by reference.
Janus Capital has an indirect 100% ownership stake in Bay Isle
Financial LLC ("Bay Isle") and an indirect 77.5% ownership stake
in Enhanced Investment Technologies LLC ("INTECH"). Due to the
above ownership structure, holdings for Janus Capital, Bay Isle
and INTECH are aggregated for purposes of this filing. Janus
Capital, Bay Isle and INTECH are registered investment advisers,
each furnishing investment advice to various investment companies
registered under Section 8 of the Investment Company Act of 1940
and to individual and institutional clients (collectively referred
to herein as "Managed Portfolios").
As a result of its role as investment adviser or sub-adviser to
the Managed Portfolios, Janus Capital may be deemed to be the
beneficial owner of 2,880,495 shares or 5.4% of the shares
outstanding of Bemis Company Common Stock held by such Managed
Portfolios. However, Janus Capital does not have the right to
receive any dividends from, or the proceeds from the sale of, the
securities held in the Managed Portfolios and disclaims any
ownership associated with such rights.
Janus Fund is an investment company registered under the
Investment Company Act of 1940 and is one of the Managed
Portfolios to which Janus Capital provides investment advice.
Item 5. Ownership of Five Percent or Less of a Class
This statement is being filed to report the fact that Janus Fund
has ceased to be the beneficial owners of more than five percent
of the class of securities.
These shares were acquired in the ordinary course of business, and
not with the purpose of changing or influencing control of the
Issuer.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person
The Managed Portfolios, set forth in Item 4 above, have the right
to receive all dividends from, and the proceeds from the sale of,
the securities held in their respective accounts.
The interest of any one person does not exceed 5% of the class of
securities.
These shares were acquired in the ordinary course of business, and
not with the purpose of changing or influencing control of the
Issuer.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purposes or effect.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
JANUS CAPITAL MANAGEMENT LLC
By /s/ Heidi J. Walter 2/16/2004
Heidi J. Walter, Date
Vice President & Assistant General Counsel
JANUS FUND
By /s/ Heidi J. Walter 2/16/2004
Heidi J. Walter, Date
Vice President & Assistant General Counsel
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act
of 1934, the persons named below agree to the joint filing on
behalf of each of them of a Statement on Schedule 13G (including
amendments thereto) with respect to the Common Stock of Bemis
Company, Inc. and further agree that this Joint Filing Agreement
be included as an Exhibit to such joint filings. In evidence
thereof, the undersigned hereby execute this Agreement as of the
16th day of February, 2004.
JANUS CAPITAL MANAGEMENT LLC
By /s/ Heidi J. Walter
Heidi J. Walter, Vice President & Assistant General
Counsel
JANUS FUND
By /s/ Heidi J. Walter
Heidi J. Walter, Vice President & Assistant General
Counsel