EXHIBIT 99.1
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JONES LANG LASALLE
Real value in a changing world
INVESTOR PRESENTATION
NOVEMBER 2008
JONES LANG LASALLE - PAGE - 2:
OUR VISION -- GLOBAL AND DIVERSIFIED GROWTH
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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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JONES LANG LASALLE'S LEADING MARKET POSITION:
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DIVERSITY IN UNCERTAIN ENVIRONMENT
. Current Capital Markets slow-down offset by:
- The Staubach Company merger
- Corporate outsourcing
- Increasing market share
- Investment Management business
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BRAND OF CHOICE:
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Energy Star Award 2007 The Sunday Times
Partner of the Year 100 Best Companies
to Work For / 2007
2008 Forbes Best Employers
The Platinum List in Asia 2007
2008 Ethics Inside 100 Best Corporate
Certified Ethisphere Citizens 2007
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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 - 3:
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 June 30,
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 - 4:
GLOBAL DIVERSIFIED REVENUE
[ Graphics indicating ]
TOTAL 2007 REVENUE = $2.7 billion (1)
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LaSalle Investment Management 14% (1)
Americas 29%
Asia Pacific 23%
EMEA 34%
OPERATING INCOME MARGIN
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2005 2006 2007
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LaSalle Investment Management (1) 24.9% 32.4% 30.2%
Americas 11.6% 10.5% 10.5%
EMEA 5.0% 6.5% 9.9%
Asia Pacific 7.3% 5.5% 11.7% (2)
PRO FORMA 2007 REVENUE (including Staubach) = $3.0 billion (1)
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LaSalle Investment Management 12% (1)
Americas 37%
Asia Pacific 20%
EMEA 31%
(1) Equity earnings are an integral part of this business and are
therefore included in the Geographic Spread and Operating Income
Margin. Equity earnings are not included in the Total Revenue.
(2) Includes a significant advisory fee from one large portfolio sale.
JONES LANG LASALLE - PAGE - 5:
DIVERSIFIED REVENUE BY SERVICE
Business Unit Spread
[ Graphics indicating ]
Total 2007 Revenue = $2.7 billion
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Money Management 14%
Capital Markets 22%
Investor Services 36%
Valuations and Consulting (1) 14%
Property Management 9%
Agency Leasing 13%
Occupier Services 28%
Tenant Representation 8%
Project and Development Services 15%
Facility Management 5%
Pro Forma 2007 Revenue (including Staubach) = $3.0 billion
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Money Management 12%
Capital Markets 21%
Investor Services 32%
Valuations and Consulting (1) 12%
Property Management 8%
Agency Leasing 12%
Occupier Services 35%
Tenant Representation 16%
Project and Development Services 15%
Facility Management 4%
(1) Includes a significant advisory fee from one large portfolio sale.
JONES LANG LASALLE - PAGE - 6:
STRATEGIC INVESTMENT AND ACQUISITIONS EXPAND FOOTPRINT
Strengthen Market Position and Diversify Globally
JONES LANG LASALLE'S INVESTMENT AND ACQUISITION STRATEGY:
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New geographies Strengthen presence New service lines
provide immediate and capture market enhance product
scale share offerings
.. Dubai - RSP Group . U.S. - THE STAUBACH . RETAIL - KEMPER'S
.. Finland - new COMPANY GROUP
Helsinki office
.. Turkey - new . India - Trammell . PDS - KHK Group
Istanbul office Crow Meghraj
. Sustainability
. Netherlands - Solutions -
Troostwijk Upstream
Makelaars
. Australia -
NSC Corporate
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COMPLETED 13 ACQUISITIONS DURING 2007
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COMPLETED 15 ACQUISITIONS YTD 2008
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JONES LANG LASALLE - PAGE - 7:
INTEGRATED SUSTAINABILITY SERVICES AND BEST PRACTICES
REDUCE CLIENTS' CARBON FOOTPRINT
SUSTAINABILITY STRATEGY
. Commercial buildings are major producers of greenhouse gas
. Energy & Environmental Services that create competitive
advantage
BENEFITS TO CLIENTS
. Recurring, meaningful cost savings
. Assist clients in achieving sustainability pledges
SERVICE LINE COLLABORATION
. Energy management, occupancy planning
JONES LANG LASALLE GLOBAL SUSTAINABILITY COMMITMENT:
.. Lead the transformation of the property industry by reducing the
environmental impact of commercial real estate
.. Increase our investment in energy and sustainability expertise
.. Reduce our carbon footprint through our ACT: A Cleaner Tomorrow
initiative, which focuses on energy conservation, water conservation,
emissions reduction, solid waste reduction, recycling and recycled
materials use
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ENERGY STAR AWARD UK GREEN BUILDING ALLIANCE TO
2007 COUNCIL SAVE ENERGY
Partner of the Year Founding Member Creating an Energy
Efficient World
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JONES LANG LASALLE - PAGE - 8:
G1 LOCAL AND REGIONAL SERVICES
GLOBAL CLOCK REFLECTING REAL ESTATE FUNDAMENTALS
[ Graphics indicating ]
Rents falling
Atlanta, Beijing, Chicago, Los Angeles, Madrid, Paris,
Sao Paulo
Dublin, Hong Kong
Brussels, London, New York, Shanghai, Washington DC
Sydney
Detroit, Tokyo
Rents bottoming out
Dallas, Philadelphia
Rental growth accelerating
Berlin, Mexico City
Seoul
Rental growth slowing
Amsterdam, Boston, Denver, San Francisco, Singapore
Stockholm
Moscow, Toronto
Frankfurt, Rome
Edinburgh, Milan, Mumbai
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Asia-Pacific
EMEA
Americas
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Source: Jones Lang LaSalle; LaSalle Investment Management
As of Q3 2008
JONES LANG LASALLE - PAGE - 9:
G2 GLOBAL CORPORATE SOLUTIONS
A GLOBAL LEADER IN REAL ESTATE OUTSOURCING SERVICES
CONTRIBUTING TO GROWTH AND PROFITABILITY:
. Expanding new and existing corporate relationships
- 32 new contractual relationships through September 2008
- 34 expanded relationships with existing clients
- 100% renewal rate with all major clients in 2008
. Leveraging our investment in global platform
- Counter-cyclical, annuity business
- Continued strength in U.S. market, 30% year on year
revenue growth through September
- Emerging growth trend in EMEA-based corporate outsourcing
- Positioned for continued growth in expanding
multinational market
KEY 2007 WINS:
ACS BP THE BANK OF NEW YORK MELLON
UNITEDHEALTH GROUP PFIZER
JONES LANG LASALLE - PAGE - 10:
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 - 11:
STAUACH ACQUISITION - TRANSACTION OVERVIEW
.. JONES LANG LASALLE and THE STAUBACH COMPANY CLOSED THE TRANSACTION
TO MERGE OPERATIONS ON JULY 11, 2008
- Staubach to receive guaranteed payments of $613 million (1),
plus additional earn out opportunities of up to $114 million
based on performance milestones
- $223 million consideration at close
- $123 million paid in cash (2), $100 million paid
in Jones Lang LaSalle stock
- $390 million of deferred payments (present value
$317 million)
- 1st payment = $78m, 2nd payment = $156m,
3rd payment - $156m; payments to be made 25,
37 and 61 months following the transaction close
- 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 $37 million of
intangible assets; $28 million in first 12 months
- Currently projecting approximately $25 million of
integration costs
- Approximately $10 million expensed through 2009
on the income statement with remainder capitalized
- Significant EPS accretion expected as integration costs
fully expensed and intangible amortization burns off
(1) Total Guaranteed Purchase Price is $624 million before the
deduction of net closing date liabilities and $11 million to
fund transaction costs
(2) Cash payment at close reduced by the net closing date
liabilities
JONES LANG LASALLE - PAGE - 12:
LEASING REVENUE GROWTH WITH INCREASED MARKET SHARE
Q3 2008 Leasing Revenue
[ Graphics indicating ]
($ in millions)
2006-07 2007-08
2006 2007 Increase 2008 Increase
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Americas $ 49.0 $ 54.3 11% $ 97.6 80%
EMEA $ 32.2 $ 50.0 55% $ 63.0 26%
Asia Pacific $ 20.8 $ 28.5 37% $ 31.6 11%
Consolidated $102.0 $132.8 30% $192.2 45%
JONES LANG LASALLE - PAGE - 13:
LEASING REVENUE GROWTH WITH INCREASED MARKET SHARE
YTD September 2008 Leasing Revenue
[ Graphics indicating ]
($ in millions)
2006-07 2007-08
2006 2007 Increase 2008 Increase
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Americas $116.3 $146.6 26% $214.6 46%
EMEA $ 99.4 $137.6 38% $172.6 25%
Asia Pacific $ 53.3 $ 74.9 41% $ 94.1 26%
Consolidated $269.0 $359.1 33% $481.2 34%
JONES LANG LASALLE - PAGE - 14
G3 GLOBAL CAPITAL MARKETS
REDUCED ACTIVITY IN 2008 OFF RECORD 2007
WITH CONTINUED CHALLENGING ENVIRONMENT
Direct Commercial
Property Trans-
actions (1) Cross Border
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2007 $759 billion (+8%) $357 billion (+19%)
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2006 $700 billion (+41%) $299 billion (+80%)
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2005 $495 billion (+26%) $166 billion (+41%)
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2004 $393 billion (+11%) $118 billion (+32%)
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2003 $354 billion $ 90 billion
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2008 MARKET TRANSACTION ACTIVITY REFLECTS DEBT MARKET IMPACT
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AMERICAS EUROPE ASIA PACIFIC
.. H1 2008 activity . H1 2008 activity . H1 2008 activity
down 56% vs H1 2007 down 38% vs H1 2007 flat vs H1 2007
.. Cross border repre- . Cross border repre- . Cross border repre-
sented 30% of volume sented 60% of volume sented 34% of volume
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(1) Excludes entity level and residential transactions.
Source: JLL; Property Data (UK); KTI (Finland); Akershus Eiendom (Norway);
Athens Economics (Greece); Wuest and Partners (Switzerland); Real Capital
Analytics (USA)
JONES LANG LASALLE - PAGE - 15:
LOWER CAPITAL MARKETS REVENUE REFLECTS CHALLENGING MARKET
YTD September 2008 Capital Markets and Hotels Revenue
[ Graphics indicating ]
($ in millions)
2006-07 2007-08
Increase Increase
2006 2007 (Decrease) 2008 (Decrease)
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Americas $ 55.2 $ 73.7 34% $ 42.8 (42%)
EMEA $166.3 $232.9 40% $137.8 (41%)
Asia Pacific $ 32.1 $ 64.2 (1) 100% $ 36.7 (43%)
Consolidated $253.6 $370.9 (1) 46% $217.3 (41%)
(1) Excludes Asia Pacific Hotels advisory fee
JONES LANG LASALLE - PAGE - 16:
G4 LASALLE INVESTMENT MANAGEMENT
DELIVERING ANNUITY REVENUE AND INCENTIVE FEES
[ Graphic / Line Chart indicating ]
($ Millions)
Advisory
and
Incentive Equity Transaction Operating
Fees Earnings Fees Income AUM
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2005 43.4 11.8 $147.5 $50.2 $29.8 Billion
2006 170.6* 7.1 $206.7 $124.4 $40.6 Billion
(40% growth)
2007 88.2 9.7 $272.9 $112.0 $49.7 Billion
(32% growth)
Q3 YTD
2008 32.6 (1.4) $230.1 $62.2 $52.7 Billion
* Includes $112.5 million incentive fee from a single client.
JONES LANG LASALLE - PAGE - 17:
G4 LASALLE INVESTMENT MANAGEMENT
A GLOBAL BUSINESS AND DIFFERENTIATOR FOR OUR FIRM
Assets
Typical Under
Q2 2008 Fee Manage-
Description Statistics Structure Product ment %
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SEPARATE European
ACCOUNT Private
MANAGEMENT . $24.9 billion . Advisory Equity $18.6 35.3%
(Firm's co- of assets fees
investment = under manage- . Transaction North
$36.5MM) ment fees American
(5% DECLINE . Incentive Private
OVER 2007) fees Equity $15.5 29.4%
. Equity
earnings Asia
Pacific
Private
- ---------------------------------------------- Equity $ 9.7 18.4%
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FUND TOTAL
MANAGE- . $18.9 billion . Advisory PRIVATE
MENT of assets fees EQUITY $43.8 83.1%
(Firm's under manage- . Incentive --------------------------
co-invest- ment fees
ment = (77% GROWTH . Equity TOTAL
$135.4MM) OVER 2007) earnings PUBLIC
SECURITIES $ 8.9 16.9%
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TOTAL $52.7 100%
PUBLIC
SECURITIES . $8.9 billion . Advisory --------------------------
(Firm's co- of assets fees
investment = under manage-
$0.1 MM) ment
(10% DECLINE
OVER 2007)
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Assets Under Management = $52.7 billion
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12% GROWTH OVER Q2 2007
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JONES LANG LASALLE - PAGE - 18:
G4 LASALLE INVESTMENT MANAGEMENT
FUNDS DRIVING AUM GROWTH, ADVISORY FEES AND POTENTIAL INCENTIVE FEES
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Original
Number Buying
Vintage Investment of Power Percentage
Year Style Funds Region ($MM) Funded
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2001 Value-Add 1 Europe $ 1,000 100%
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2002 Value-Add 2 Americas $ 1,700 100%
Opportunistic Asia Pacific
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2003 Value-Add 1 Americas $ 300 100%
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2004 Value-Add 2 Asia Pacific $ 1,750 100%
Opportunistic Europe
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2005 Value-Add (3) 5 Americas (2) $ 5,800 90%
Opportunistic (2) Asia Pacific
Europe (2)
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2006 Value-Add 3 Americas $ 4,400 30%
Europe (2)
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2007 Value-Add (2) 4 Americas (2) $17,900 10%
Opportunistic (2) Asia Pacific (2)
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Total 18 $32,850
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Note: Vintage Year represents the year in which the fund made its first
capital call from investors. Original Buying Power represents the
capital commitment plus target leverage at inception of fund.
JONES LANG LASALLE - PAGE - 19:
THE LEADING REAL ESTATE SERVICES BRAND
.. DOMINANT GLOBAL PLATFORM
- Approximately 180 offices in over 60 countries worldwide
- Research-driven global money management business
- Client demands for global expertise satisfied by few providers
.. SOLID FINANCIAL PERFORMANCE & POSITION
- Diversified revenues by region and by service line
- Strong cash flow generator with investment-grade ratings
- Strong global market positions benefiting from strategic
investments and acquisitions
.. PERFORM FOR SHORT AND LONG TERM HORIZON
- Premier and expanding position in the corporate outsourcing
space
- Expand share in local markets
- Leading global investment management business
JONES LANG LASALLE - PAGE - 20:
JONES LANG LASALLE
Real value in a changing world
APPENDIX I
Superior Cash Flow & Capital Structure
JONES LANG LASALLE - PAGE - 21:
SUPERIOR CASH FLOW
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Actual
$MM 2007 2006 2005
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OPERATING INCOME $342 $244 $132
Plus: Depreciation and Amortization 56 49 34
Plus: Equity Earnings and Other 15 9 11
EBITDA $413 $302 $177
Less: Interest Expense (13) (14) (4)
Less: Income Taxes (88) (64) (36)
Plus: Working capital &
non-cash expenses 97 154 (16)
NET CASH FROM OPERATIONS $409 $378 $121
PRIMARY USES OF CASH
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Acquisition 134 192 5
Co-Investment 17 44 16
E-commerce Disposition (6) -- --
Capital Expenses 114 70 40
Net Debt Repayment 31 18 13
Net Share Repurchase (1) 90 33 38
Dividend 29 21 9
TOTAL $409 $378 $121
(1) Net Share Repurchase in 2007 includes $96 million of
repurchases under our program plus repurchases for taxes less
cash inflows from shares issued under share programs and
related tax benefits.
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EXPLANATION OF EBITDA
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. EBITDA represents earnings before interest expense, income
taxes, depreciation and amortization
. Management believes that EBITDA is useful to investors as a
measure of operating performance
. EBITDA should not be considered an alternative to (i) net
income (loss) (determined in accordance with GAAP) or
(ii) cash flows (determined in accordance with GAAP)
JONES LANG LASALLE - PAGE - 22:
ACQUISITION IMPACT ON BALANCE SHEET
Two Significant 2008 Acquisitions - Kemper's Group & Staubach
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ACQUISITION FINANCING STRUCTURE
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Kemper's Staubach
May 2, July 11,
2008 2008 Total
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Bank Debt $129 $123 $252
PV of Deferred Payments -- 317 317
Equity -- 100 100
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Total $129 $540 $669
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DEBT RATINGS AFFIRMED:
Moody's Investors Service: Baa2 (Outlook: Stable)
Standard & Poor's: BBB- (Outlook: Positive)
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BALANCE SHEET HIGHLIGHTS
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Sept 30, Sept 30,
2008 2007
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Bank Debt $ 543 $ 84
PV of Deferred Payments 414 47
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Total $ 957 $ 131
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Book Equity $1,095 $ 908
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CREDIT FACILITY:
Total Bank Capacity: $875 million
Maturity: June 2012
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