trapcode’s shine plugin makes this fairly easy (you can check out the demo on redgiant.com)
however you can still create something similar with ae’s bundled effects.
start with a new solid and apply fractal noise. animate the evolutions at around 360 degrees over several seconds (maybe 5 or 6 for starters). this will ultimately effect the movement of the rays.
then add the circle effect and set the blending mode (within the effect settings) to stencil alpha.
now add cc radial fast blur and increase the amount value to create the rays. you can also play around with the ‘zoom’ setting.
then duplicate your circle effect, move it to the bottom of the effect stack and click the ‘invert’ option.
this should bet you in the ballpark, maybe feather the last circle effect a little.
you could further add some distortion effects to the the ‘rays’ to get some of the warping seen in the example, just move those effects prior to the last circle effect.
Kevin Camp
Senior Designer
KCPQ, KMYQ & KRCW