EXHIBIT 99.1
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JONES LANG LASALLE
Real value in a changing world
INVESTOR PRESENTATION
Jones Lang LaSalle & The Staubach Company
to Merge Operations
June 2008
JONES LANG LASALLE - PAGE - 2:
FORWARD LOOKING STATEMENTS
Statements in this presentation regarding, among other things, future
financial results and performance, achievements, plans and objectives,
dividend payments and share repurchases 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. 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, 2007
and in the Quarterly Report on Form 10-Q for the quarter ended March 31,
2008 and in other reports filed with the Securities and Exchange
Commission. There can be no assurance that future dividends will be
declared since the actual declaration of future dividends, and the
establishment of record and payment dates, remains subject to final
determination by the Company's Board of Directors. 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.
JONES LANG LASALLE - PAGE - 3:
THE STAUBACH COMPANY ALIGNS WITH GROWTH STRATEGIES
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The chosen real estate expert and strategic adviser to the
leading occupiers and investors around the world
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MARKET LEADING POSITIONS:
CONSOLIDATING INDUSTRY
. Strong balance sheet
. Desired global platform
. Disciplined acquirer
DIVERSITY IN UNCERTAIN ENVIRONMENT
. Current Capital Markets slow-down offset by:
- The Staubach Company merger
- Global platform breadth
- Multiple growing service lines
- Increasing market share
- Investment management business
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G1 Local and Regional
Service Operations
Execution
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G2 Global Corporate
Solutions
Counter Cyclical
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G3 Global Capital
Markets
Global Diversity
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G4 LaSalle Investment
Management
Annuity
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G5 World Standard
Business Operations
Operating Leverage
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JONES LANG LASALLE - PAGE - 4:
STAUBACH
A World of Real Estate Knowledge
THE STAUBACH COMPANY OVERVIEW
Premier US Brand in Tenant Representation Services
.. STAUBACH IS A MARKET-LEADING REAL ESTATE ADVISORY FIRM WITH A
PRESENCE IN OVER 20 U.S. MARKETS
- Established over 30 years ago by Roger Staubach
.. LOYAL EMPLOYEE BASE WITH MORE THAN 1,000 EMPLOYEES
- 94% professional retention
.. CONSISTENT REVENUE AND PROFIT GROWTH
- Four year revenue CAGR of 15% (1)
.. VARIABLE COMPENSATION USING COMMISSION MODEL
.. DIVERSE CLIENT BASE
- Top ten clients less than 15% of Staubach's 2007 fiscal year
revenue
.. MAJORITY OF REVENUE, C. 85%, FROM TENANT REPRESENTATION
- Tenant Representation demonstrated resiliency in the last
market downturn
(1) Based on Staubach's historical financial results (unaudited)
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Tenant Representation
Service Offerings
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. Strategic and advisory consulting
. Transaction management
. Lease and contract negotiation
. Research
. Lease administration
. Portfolio strategy
. Business and economic incentives
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JONES LANG LASALLE - PAGE - 5:
COMBINED GLOBAL FOOTPRINT
Two powerful firms, one game-changing opportunity
. THE STAUBACH COMPANY
. JONES LANG LASALLE
JONES LANG LASALLE - PAGE - 6:
TRANSACTION OVERVIEW
.. JONES LANG LASALLE and THE STAUBACH COMPANY HAVE ENTERED A DEFINITIVE
AGREEMENT TO MERGE OPERATIONS
- Staubach's June 2008 fiscal revenues projected to be
approximately $375 million
- Significant opportunity to cross-sell JLL's broad
services and global geography to Staubach clients
- Staubach to receive guaranteed payments of $613 million, plus
additional earn out opportunities of up to $114 million based
on performance milestones
- Expense synergies - expect at least $7.5 million of annual run
rate
- Expect transaction to be EPS accretive in 2009 on a U.S. GAAP
basis
- Currently projecting approximately $100 million of
intangible assets
- Currently projecting approximately $25 million of
integration costs
- Significant EPS accretion expected as integration costs
fully expensed and intangible amortization burns off
- Anticipate closing during third quarter 2008, subject to
contract terms and Hart-Scott-Rodino approval
- Transaction approved by Staubach shareholders
JONES LANG LASALLE - PAGE - 7:
TRANSACTION OVERVIEW
.. DEFERRED PAYMENT STRUCTURE AND PERFORMANCE-BASED INCENTIVES (1)
- $223 million consideration at close
- $123 million paid in cash using existing credit
facilities (2)
- $100 million paid in Jones Lang LaSalle stock via a
private placement issued to Staubach shareholders
- Registration statement covering shares to be filed
following filing of pro forma financial statements
- $390 million of deferred payments (3)
- 1st payment + $78M, 2nd payment = $156m, 3rd payment =
$156m
- Present value of deferred payments $317 million
- Earn out payments commence as early as 2011, based on
performance incentives measured over a period of up to four and
one-half years after the closing
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SOURCES AND USES
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($ in Millions)
Credit Facilities $ 136 Purchase Price at Close (1) $ 223
PV of Deferred Payments (3) 317 PV of Deferred Payments (3) 317
Equity 100 Fees and Expenses 13
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Total Sources $ 553 Total Uses $ 553
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(1) Total Guaranteed Purchase Price is $624 million before the deduction
of net closing date liabilities and $11 million to fund transition
costs
(2) Cash payment at close to be reduced by the net closing date
liabilities, as detailed in the merger agreement.
(3) Deferred payments (reported as "Deferred business acquisition
obligations" on JLL's balance sheet) are scheduled to be paid on the
25th, 37th and 61st month anniversaries following the transaction
closing.
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JONES LANG LASALLE - PAGE - 8:
STRATEGIC RATIONALE
Provides Opportunity to Expand on Staubach's Single-Service Model
[ Graphics / Pie Charts indicating ]
PRE-TRANSACTION SERVICE POST-TRANSACTION
LINE CONTRIBUTION BUSINESS CONTRIBUTION
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Actual 2007 Revenue: Pro Forma 2007 Revenue:
$2.7 billion $3.0 billion
OCCUPIER SERVICES - 28% OCCUPIER SERVICES - 35%
Integrated Facility Integrated Facility
Management - 5% Management - 4%
Project and Development Project and Development
Services - 15% Services - 15%
Tenant Representation - Tenant Representation -
8% 16%
INVESTOR SERVICES - 36% INVESTOR SERVICES - 32%
Agency Leasing - 13% Agency Leasing - 12%
Property Management - 9% Property Management - 8%
Valuation and Consulting - Valuation and Consulting -
14% 12%
CAPITAL MARKETS - 22% CAPITAL MARKETS - 21%
MONEY MANAGEMENT - 14% MONEY MANAGEMENT - 12%
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.. ENABLES CROSS-SELLING OF ADDITIONAL SERVICES (INTEGRATED FACILITIES
MANAGEMENT "IFM" AND PROJECT DEVELOPMENT SERVICES "PDS") TO EXISTING
STAUBACH CLIENTS
.. STRENGTHENS ABILITY TO SELL STRATEGIC ALLIANCE TRANSACTION SERVICES
TO JONES LANG LASALLE'S IFM / PDS-ONLY CLIENTS
- Earn out structure encourages expansion of client relationship
to include tenant representation
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JONES LANG LASALLE - PAGE - 9:
STRATEGIC RATIONALE
G1 AND G2 IN THE AMERICAS; SIGNIFICANT INTERNATIONAL OPPORTUNITIES
[ Graphics / Pie Charts indicating ]
PRE-TRANSACTION BUSINESS POST-TRANSACTION
CONTRIBUTION BUSINESS CONTRIBUTION
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AMERICAS - 29% AMERICAS - 37%
ASIA PACIFIC - 23% ASIA PACIFIC - 20%
EMEA - 34% EMEA - 31%
LIM - 14% LIM - 12%
ACTUAL 2007 REVENUE: PRO FORMA 2007 REVENUE:
$2.7 BILLION $3.0 BILLION
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.. STRATEGIC PRIORITIES:
- G-1 - Grow local market positions (executed to date with
hiring and small acquisitions)
- G-2 - Expand execution capabilities for corporate clients
.. STAUBACH'S PLATFORM COMPLEMENTS JLL AMERICAS' STRONG NATIONAL
CORPORATE SOLUTIONS PLATFORM
- Adds scale to Public Institutions penetration; become leader
at federal level and add state-level capabilities
- Adds scale to industrial brokerage and logistics-focused
capabilities; one-third of JLL Corporate Solutions clients
have industrial need
.. CROSS-BORDER TRANSACTION REFERRALS TO ASIA PACIFIC AND EUROPE
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JONES LANG LASALLE - PAGE - 10:
STRATEGIC RATIONALE
STRONG STAUBACH LEADERSHIP AND COMPLEMENTARY CULTURES
STAUBACH'S TOP LEADERSHIP TALENT CULTURAL FIT
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.. Depth of leadership at . Client first mentality
local and regional level
.. Roger Staubach anticipated . Growth mindset
to join JLL Board of
Directions
. Similar brand attributes
.. Staubach management to and values
take meaningful roles
in combined organization
. Team oriented
.. Successfully manage broker
compensation programs -
which will be expanded . Trust and integrity
in JLL
.. Sales and personal . Desire to be the best and
relationship development achieve market leadership
skill set embedded in
Staubach culture
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JONES LANG LASALLE - PAGE - 11:
STRATEGIC RATIONALE
IMMEDIATELY POSITIONS JLL AS A MARKET LEADER IN TENANT REPRESENTATION
.. STAUBACH'S SCALE, FOOTPRINT AND STRONG COMPETITIVE POSITION
ACCELERATES JLL'S PENETRATION OF KEY US MARKETS
- Significantly strengthens JLL's leasing capabilities in local
markets
.. BOTH FIRMS FOCUS ON TOP 20 MARKETS WITH COMBINATION CREATING LEADING
POSITIONS IN MAJORITY OF LARGE OFFICE MARKETS
- New York, Washington DC metro, Chicago, Northern California,
Dallas, Houston, Boston and Atlanta
.. INTEGRATING AND CROSS SELLING COMBINED CAPABILITIES ADDS VALUE TO
CLIENTS BY LEVERAGING BROADER SERVICE OFFERING
- JLL's leading Corporate Solutions position in facilities
management, project management and transaction management plus
Staubach's strength in tenant representation increases
separation from the competitive set
- Adds depth and scale to combined practice groups including law
firms, global logistics, data centers, call centers, healthcare
and life sciences
.. COMBINATION REINFORCES JLL'S POSITION AS THE HIGH QUALITY BRAND FOR
OCCUPIER CLIENTS