EXHIBIT 99.2
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Investor Relations Presentation made by Jones Lang LaSalle Incorporated
on November 28, 2005
JONES LANG INVESTOR CONFERENCE CALL
LASALLE
Colin Dyer - Chief Executive Officer
Lauralee Martin - Chief Operating and
Financial Officer
NOVEMBER 2005
JONES LANG
LASALLE Slide 1
JONES LANG
LASALLE FORWARD LOOKING STATEMENTS
Statements in this presentation regarding, among other things, future
financial results and performance, achievements, plans, targets,
projections and objectives may be considered forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such statements involve known and unknown risks, uncertainties and other
factors which may cause actual results, performance, achievements, plans
and objectives of Jones Lang LaSalle to be materially different from those
expressed or implied by such forward-looking statements and Jones Lang
LaSalle makes no representations or guarantees thereof. Factors that could
cause actual results to differ materially include those discussed under
"Business," "Management's Discussion and Analysis of Financial Condition
and Results of Operations," "Quantitative and Qualitative Disclosures about
Market Risk," and elsewhere in Jones Lang LaSalle's Annual Report on Form
10-K for the year ended December 31, 2004, in Jones Lang LaSalle's
Quarterly Report on Form 10-Q for the quarter ended September 30, 2005 and
in other reports filed with the Securities and Exchange Commission.
Statements speak only as of the date of this presentation. Jones Lang
LaSalle expressly disclaims any obligation or undertaking to update or
revise any forward-looking statements contained herein to reflect any
change in Jones Lang LaSalle's expectations or results, or any change in
events. In addition, nothing herein may be construed or is intended as an
offering of any security.
JONES LANG
LASALLE Slide 2
OUR GROWTH DRIVERS -
THE GLOBAL FIVE PRIORITIES
1. Local and Regional Service Operations
2. Global Corporate Solutions
3. Global Capital Markets
4. LaSalle Investment Management
5. Infrastructure
JONES LANG
LASALLE Slide 3
TRANSACTION OVERVIEW
.. Jones Lang LaSalle has entered a definitive agreement to combine
operations with Spaulding & Slye
. Transaction structured as an acquisition; financed using
Jones Lang LaSalle's existing revolving credit facility
. $150 million cash paid at closing
. Additional consideration and earn-out over next three years
subject to contract terms and performance
. Closing subject to customary contract terms and Hart-Scott-
Rodino approval
.. Transaction fits comfortably within Jones Lang LaSalle's capital
structure strategy
. Debt-financed transaction brings the firm's capital structure
closer to its targeted 25% debt to book capitalization
. Ample flexibility to continue investments for growth, share
repurchases and dividends
.. EPS accretive transaction
. 2006 EPS neutral to modestly accretive after approximately
$0.15 per share impact of financing costs
. EPS accretion higher in 2007 and beyond with performance and as
cash flows reduce debt and financing costs
JONES LANG
LASALLE Slide 4
OUR GROWTH DRIVERS -
THE GLOBAL FIVE PRIORITIES
1. Local and Regional Service Operations
. Be a force in all markets
. Operate to world service standards
. Execute the global service lines
JONES LANG
LASALLE Slide 5
SPAULDING & SLYE OVERVIEW
. Spaulding & Slye is a Boston-based regional real estate
services firm founded in 1966 with offices in the Boston and
Washington D.C. areas
. Approximately 500 Spaulding & Slye employees will join
the Jones Lang LaSalle organization
. Revenue sourced 50% from Leasing with balance spread over
Construction Management, Development, Property
Management, Investment Sales, Structured Finance,
Project Management and Investment Management
. Strong cultural fit with Jones Lang LaSalle demonstrated by
Spaulding & Slye's "Clients First" mentality
JONES LANG
LASALLE Slide 6
EXECUTING GROWTH STRATEGIES -
OUR STRATEGIC RATIONALE
. Establishes immediate scale in New England region and
strengthens DC operations
. Spaulding & Slye brings synergistic fit with Jones Lang LaSalle
U.S. targeted growth markets
. Boston - Leasing and Management, Investment Sales,
Structured Finance
. Washington D.C. combined with Jones Lang LaSalle's
operations solidifies a powerful platform in this market
. Recognized Federal Government practice complements Jones
Lang LaSalle's growing Public Institutions practice
. Life Science Client Sector provides new opportunities and
accelerates Jones Lang LaSalle's Health Care practice
. Higher Education practice with established high-profile
clients is consistent with Jones Lang LaSalle's focus
. Construction and Development skills bring new services to
Jones Lang LaSalle clients and growth opportunities.
JONES LANG
LASALLE Slide 7