EX-99.1 2 jm7667ex991.txt EXHIBIT 99.1 Exhibit 99.1 JONES LANG LASALLE REPORTS 3RD QUARTER NET INCOME OF $24.7 MILLION, $0.73 PER SHARE; DECLARES INCREASED SEMI-ANNUAL DIVIDEND CHICAGO, Oct. 31 /PRNewswire-FirstCall/ -- Jones Lang LaSalle Incorporated (NYSE: JLL), the leading global real estate services and money management firm, today reported net income of $24.7 million, or $0.73 per diluted share of common stock, for the quarter ended September 30, 2006, and net income of $95.5 million, or $2.85 per share, for year-to-date 2006. In 2005, net income for the third quarter was $20.6 million, or $0.61 per share, with year-to-date net income of $36.8 million, or $1.10 per share. Operating income for the third quarter of 2006 increased 40 percent to $37.3 million from $26.6 million a year ago and on a year-to-date basis nearly tripled to $130.3 million from $46.3 million. The third-quarter results included strong year-over-year operating income increases by both EMEA(1) and the Americas. The year-to-date results included the single, large incentive fee recorded by LaSalle Investment Management in the second quarter. All operating segments achieved robust increases in revenue for both the third quarter and year-to-date 2006 compared with the same periods of the prior year. Revenue for the third quarter of 2006 was $462 million, an increase of 42 percent, while year-to-date revenue increased to $1.3 billion, an increase of 47 percent over the prior year. Together, the acquisition of Spaulding & Slye and the significant incentive fee contributed 40 percent of the firm's year-to-date increase over the prior year. Revenue for the third quarter of 2006 in the EMEA and Americas regions increased by 53 and 46 percent, respectively, compared with the same period of the prior year. Third Quarter 2006 Highlights: -- Total revenue increased 42 percent led by EMEA and Americas -- Operating income increased 40 percent -- Semi-annual dividend declared -- an increase of 40 percent to $0.35 per share "The acquisitions and investments which we made in 2005 and 2006 are contributing to our strong, top-line growth across all of our businesses and geographies, and we're particularly pleased with our progress in EMEA," said Colin Dyer, Chief Executive Officer of Jones Lang LaSalle. "Everyone in the company is firmly focused on delivering outstanding results for our clients and completing another successful year in 2006," Dyer added. Operating expenses were $425 million for the third quarter of 2006 compared with $300 million for the same period in 2005, an increase of 42 percent, and on a year-to-date basis an increase of 39 percent to $1.2 billion. The increase in operating expenses was due to increased investments made across the regions and the firm's acquisition activity, which during the third quarter included the RSP Group in Dubai and, earlier this year, the acquisitions of Spaulding & Slye, Rogers Chapman and The Littman Partnership. Also contributing to the increase were higher incentive compensation related to the firm's strong performance, the costs associated with revenue-generating activities, and the geographic expansion both of offices and the global business platform. Interest expense of $4.1 million for the third quarter of 2006 was higher than the $1.3 million incurred for the same period in 2005 due to a higher debt balance and higher interest rates compared with a year ago. The higher debt balance was principally related to acquisition activities, share repurchases and increased co-investment funding in line with the growth in the firm's investment management business. Declaration of Semi-Annual Dividend The firm also has announced that its Board of Directors has declared a semi-annual dividend of $0.35 per share of its common stock. The dividend payment will be made on Friday, December 15, 2006, to holders of record at the close of business on Wednesday, November 15, 2006. This amount represents an increase of $0.10 per share, or 40 percent, over the amount of the semi-annual dividend that was paid in June 2006. A dividend-equivalent in the same amount also will be paid simultaneously on outstanding but unvested shares of restricted stock units granted under the Company's Stock Award and Incentive Plan. Business Segment Third Quarter Performance Highlights Investor and Occupier Services -- In the Americas, revenue for the third quarter of 2006 was $150 million, an increase of 46 percent over the prior year, while year-to- date revenue increased to $399 million, an increase of 47 percent over the same period in 2005. Transaction revenue was up over 65 percent for both the quarter and year to date compared with 2005 due to an increased number of large transactions that closed in 2006. Management Services revenue was up approximately 30 percent for the quarter and year to date over 2005. The current year's strong revenue performance has benefited from organizational changes made at the end of 2005. The Americas reoriented part of its operations to focus on "Markets" and "Accounts." The goal of the Markets organization is to maximize the firm's competitive position in its key local markets. The focus of the Accounts organization is on delivering services and strategic advice to large corporate clients. The Spaulding & Slye acquisition and new client wins in late 2005 also impacted the strong performance over the prior year. Revenue in the Americas Hotels business was up 76 percent on a year- to-date basis compared with 2005. The increase was due to the closing of several significant transactions this year, and to the acquisition of a middle-market hotel broker and advisory firm in the second quarter of 2005. Total operating expenses for both the quarter and year to date increased 48 and 47 percent, respectively, over the prior year as a result of continued investment activity with the strengthening of local market teams throughout the region. Expense growth also was driven by the Spaulding & Slye acquisition and by higher compensation costs associated with revenue-generating activities. -- In EMEA, third-quarter revenue increased 53 percent to $170 million over the same quarter in 2005, and on a year-to-date basis grew 30 percent to $409 million. Transaction Services revenue was up 63 percent for the quarter and 38 percent year to date. Third-quarter 2006 revenue was driven by Capital Markets, which was up 87 percent, with revenue in Agency Leasing and Advisory services up 34 and 47 percent, respectively, compared with the prior year. Revenue on a year-to-date basis for Capital Markets increased 72 percent with Agency Leasing and Advisory services up approximately 20 percent each as the leasing markets in the region continue to recover. Germany and France continued to gain momentum into the third quarter and experience further strong growth driven by improved market conditions and investor interest along with management actions taken in both countries. Germany's revenue was up 90 percent for the third quarter and up 66 percent year to date compared with 2005, with Capital Markets activity contributing the majority of the growth. Both Capital Markets and Agency Leasing drove the growth in France's revenue, which nearly tripled for the third quarter and doubled year to date, compared with 2005. Favorable trends have also continued in other markets, with year-to-date revenue up 16 percent in the United Kingdom and up 54 percent in Central and Eastern Europe, including Russia, over the prior year. Year-to-date revenue of the EMEA Hotels business increased over 60 percent compared to the prior year. Operating expenses in the third quarter of 2006 increased by 45 percent and by 26 percent on a year-to-date basis. The increase was driven by investments in staff to service clients, and drive growth in market share, as well as incentive compensation associated with improved results. Operating income on a year-to-date basis improved significantly in 2006 to $14.0 million compared with $1.2 million in 2005. During the quarter, the firm expanded into the Middle East with the acquisition of RSP Group, a leading Dubai-based team of 30 professionals providing strategic real estate investment and advisory services to private and institutional investors and developers. -- Third-quarter revenue for the Asia Pacific region increased 24 percent to $78 million and, on a year-to-date basis, increased 18 percent to $213 million. Revenue growth in the third quarter was driven primarily by Transaction Services, up 27 percent, and Management Services, up 15 percent. Geographically, the third-quarter and year-to-date increases in revenue over the prior year were led by the growth markets of China, Japan, India and Korea, which as a group had increased revenue of 54 and 27 percent, respectively. Australia continued its steady growth throughout the current year compared with the prior year, as revenue for both the third quarter and year to date increased 20 percent. Following very strong results in 2005, the Hong Kong business has maintained its performance levels and its leading market position. The increase in operating expenses for both third quarter and year-to- date 2006 was primarily the result of continued investment activity to expand the geographic platform, service capabilities and infrastructure throughout the region. The firm remains committed to future growth by expanding existing offices and adding new offices across the region. During the third quarter, the region incurred approximately $1.6 million of transition expenses to outsource the management of its IT infrastructure, call centers and application development. This will enable faster response to client requests and better support for future regional growth. The 2005 year-to-date operating expenses included a credit of $2.4 million received from a litigation settlement. LaSalle Investment Management LaSalle Investment Management's third-quarter 2006 revenue increased by 26 percent to $65 million compared with $52 million in 2005, while year-to-date revenue more than doubled to $299 million from $131 million. Advisory fees for the third quarter 2006 increased 40 percent to $46 million, compared with $33 million in 2005 and on a year-to-date basis increased 36 percent to $127 million. The growth in this annuity business was principally due to the increase in assets under management. Total investments related to this activity also increased, as the firm's co-investment capital totaled $128 million at the end of the third quarter of 2006, compared with $84 million in the prior year. Incentive fees remained strong in the third quarter and were comparable to the prior year. The majority of the year-to-date increase in incentive fees is due to the single large incentive fee earned in the second quarter of 2006. LaSalle Investment Management's assets under management grew to almost $40 billion at the end of the third quarter of 2006, compared with $29 billion a year ago. Summary Supported by ongoing favorable market conditions, Jones Lang LaSalle continues to focus on its growth initiatives and disciplined investment strategy across its diverse global platform. The firm intends to maintain these efforts in 2007 in order to continue to generate growth in the firm's core operations beyond 2006. In addition to the $180 million that the firm has spent so far in 2006 for acquisitions, strategic investments for the full-year 2006 are anticipated to be $25 million, of which $18 million has been spent year to date. About Jones Lang LaSalle Jones Lang LaSalle (NYSE: JLL), the only real estate money management and services firm named to Forbes magazine's Platinum 400, has more than 125 offices worldwide and operates in more than 450 cities in 50 countries. With 2005 revenue of approximately $1.4 billion, the company provides comprehensive integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients. Jones Lang LaSalle is an industry leader in property and corporate facility management services, with a portfolio of 982 million square feet worldwide. In 2005, the firm completed capital markets sales and acquisitions, debt financings, and equity placements on assets and portfolios valued at $43 billion. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse real estate money management firms, with approximately $40 billion of assets under management. For further information, please visit http://www.joneslanglasalle.com . Statements in this press release regarding, among other things, future financial results and performance, achievements, plans and objectives and the payment of dividends, 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. 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. 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, 2005 and in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2006 and June 30, 2006 and in other reports filed with the Securities and Exchange Commission. Statements speak only as of the date of this release. 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. Conference Call The firm will conduct a conference call for shareholders, analysts and investment professionals on Wednesday, November 1, 2006, at 9:00 a.m. EST. To participate in the teleconference, please dial into one of the following phone numbers five to 10 minutes before the start time: -- U.S. callers: +1 877 809 9540 -- International callers: +1 706 679 7364 -- Pass code: 8733626 Replay Information Available: Noon EST Wednesday, November 1 through Midnight November 8 at the following numbers: -- U.S. callers: +1 800 642 1687 -- International callers: +1 706 645 9291 -- Pass code: 8733626 Live webcast Follow these steps to listen to the webcast: 1. You must have a minimum 14.4 Kbps Internet connection 2. Log on to http://www.videonewswire.com/event.asp?id=36175 and follow instructions 3. Download free Windows Media Player software: (link located under registration form) 4. If you experience problems listening, send an e-mail to webcastsupport@tfprn.com This information is also available on the company's Web site at http://www.joneslanglasalle.com If you have any questions, call Yvonne Peterson of Jones Lang LaSalle's Investor Relations department at +1 312 228 2919. (1) Europe, Middle East, Africa - EMEA; previously referred to as Europe. JONES LANG LASALLE INCORPORATED Consolidated Statements of Earnings For the Three and Nine Months Ended September 30, 2006 and 2005 (in thousands, except share data) (Unaudited)
Three Months Ended Nine Months Ended September 30, September 30, --------------------------- ---------------------------- 2006 2005 2006 2005 ------------ ------------ ------------ ------------ Revenue $ 462,317 $ 326,384 $ 1,309,204 $ 891,648 Operating expenses: Compensation and benefits 313,711 211,035 863,326 592,800 Operating, administrative and other 99,796 79,702 284,353 227,184 Depreciation and amortization 11,523 8,322 31,877 24,967 Restructuring charges (credits) - 721 (670) 471 Total operating expenses 425,030 299,780 1,178,886 845,422 Operating income 37,287 26,604 130,318 46,226 Interest expense, net of interest income 4,112 1,333 11,799 3,019 Equity in earnings from unconsolidated ventures 773 2,366 9,422 6,104 Income before provision for income taxes 33,948 27,637 127,941 49,311 Provision for income taxes 9,251 7,020 33,648 12,525 Net income before cumulative effect of accounting change 24,697 20,617 94,293 36,786 Cumulative effect of change in accounting principle - - 1,180 - Net income $ 24,697 $ 20,617 $ 95,473 $ 36,786 Net income available to common shareholders $ 24,697 $ 20,231 $ 94,951 $ 36,400 EBITDA $ 49,583 $ 37,292 $ 172,797 $ 77,297 Basic earnings per common share $ 0.77 $ 0.64 $ 2.99 $ 1.16 Basic weighted average shares outstanding 32,106,994 31,576,006 31,771,247 31,296,057 Diluted earnings per common share $ 0.73 $ 0.61 $ 2.85 $ 1.10 Diluted weighted average shares outstanding 33,751,054 33,425,883 33,319,566 32,990,066
Please reference attached financial statement notes. JONES LANG LASALLE INCORPORATED Segment Operating Results For the Three and Nine Months Ended September 30, 2006 and 2005 (in thousands) (Unaudited)
Three Months Ended Nine Months Ended September 30, September 30, ---------------------------- ---------------------------- 2006 2005 2006 2005 ------------ ------------ ------------ ------------ INVESTOR & OCCUPIER SERVICES - AMERICAS Revenue: Transaction services $ 75,159 $ 44,825 $ 189,906 $ 113,864 Management services 71,774 55,831 198,836 150,220 Equity earnings 373 198 657 381 Other services 2,823 2,291 8,256 6,040 Intersegment revenue 256 169 915 698 150,385 103,314 398,570 271,203 Operating expenses: Compensation, operating and administrative 128,415 87,065 359,012 244,953 Depreciation and amortization 5,852 3,797 16,435 11,080 134,267 90,862 375,447 256,033 Operating income $ 16,118 $ 12,452 $ 23,123 $ 15,170 EMEA Revenue: Transaction services $ 138,448 $ 84,734 $ 326,933 $ 236,720 Management services 27,812 22,179 71,595 70,051 Equity earnings 22 - (284) (226) Other services 3,406 3,740 10,771 9,099 169,688 110,653 409,015 315,644 Operating expenses: Compensation, operating and administrative 152,518 105,164 386,113 307,046 Depreciation and amortization 3,518 2,435 8,867 7,439 156,036 107,599 394,980 314,485 Operating income $ 13,652 $ 3,054 $ 14,035 $ 1,159 ASIA PACIFIC Revenue: Transaction services $ 45,019 $ 35,461 $ 118,856 $ 101,674 Management services 32,769 28,604 88,650 78,310 Equity earnings (135) - 1,714 - Other services 622 (756) 3,319 777 Intersegment revenue 141 - 203 - 78,416 63,309 212,742 180,761 Operating expenses: Compensation, operating and administrative 78,480 60,741 206,842 168,310 Depreciation and amortization 1,819 1,745 5,579 5,414 80,299 62,486 212,421 173,724 Operating income (loss) $ (1,883) $ 823 $ 321 $ 7,037 LASALLE INVESTMENT MANAGEMENT Revenue: Transaction services $ 4,218 $ 3,722 $ 19,153 $ 14,613 Advisory 45,595 32,601 126,947 93,369 Incentive 14,672 13,154 145,982 16,911 Equity earnings 513 2,166 7,335 5,949 Intersegment revenue (expense) (61) - (120) - 64,937 51,643 299,297 130,842 Operating expenses: Compensation, operating and administrative 54,430 37,937 196,710 100,373 Depreciation and amortization 334 344 996 1,034 54,764 38,281 197,706 101,407 Operating income $ 10,173 $ 13,362 $ 101,591 $ 29,435 Total segment revenue 463,426 328,919 1,319,624 898,450 Intersegment revenue eliminations (336) (169) (998) (698) Reclassification of equity earnings (773) (2,366) (9,422) (6,104) Total revenue $ 462,317 $ 326,384 $ 1,309,204 $ 891,648 Total segment operating expenses 425,366 299,228 1,180,554 845,649 Intersegment operating expense eliminations (336) (169) (998) (698) Total operating expenses before restructuring charges (credits) $ 425,030 $ 299,059 $ 1,179,556 $ 844,951 Operating income before restructuring charges (credits) $ 37,287 $ 27,325 $ 129,648 $ 46,697
Please reference attached financial statement notes. JONES LANG LASALLE INCORPORATED Consolidated Balance Sheets September 30, 2006, December 31, 2005 and September 30, 2005 (in thousands)
September 30, December 31, September 30, 2006 2005 2005 ------------- ------------- ------------- (Unaudited) (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 34,060 $ 28,658 $ 26,029 Trade receivables, net of allowances 460,862 415,087 283,763 Notes and other receivables 31,217 15,231 15,546 Prepaid expenses 27,535 22,442 23,578 Deferred tax assets 36,374 35,816 27,376 Other assets 16,860 13,864 9,793 Total current assets 606,908 531,098 386,085 Property and equipment, at cost, less accumulated depreciation 105,992 82,186 72,988 Goodwill, with indefinite useful lives, at cost, less accumulated amortization 512,778 335,731 338,282 Identified intangibles, with finite useful lives, at cost, less accumulated amortization 39,837 4,391 6,128 Investments in real estate ventures 127,487 88,710 83,817 Long-term receivables 23,006 20,931 19,206 Deferred tax assets 59,547 59,262 40,317 Other assets 27,540 22,460 22,029 $ 1,503,095 $ 1,144,769 $ 968,852 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 157,705 $ 155,741 $ 90,614 Accrued compensation 322,153 300,847 174,648 Short-term borrowings 19,220 18,011 16,469 Deferred tax liabilities 1,601 400 819 Deferred income 26,921 20,823 24,137 Other liabilities 38,140 26,813 31,323 Total current liabilities 565,740 522,635 338,010 Long-term liabilities: Credit facilities 158,029 26,697 80,213 Deferred tax liabilities 2,273 3,079 348 Deferred compensation 21,553 15,988 15,560 Minimum pension liability 17,621 16,753 1,703 Deferred business acquisition obligations 33,539 - - Other liabilities 30,774 23,614 30,371 Total liabilities 829,529 608,766 466,205 Stockholders' equity: Common stock, $.01 par value per share, 100,000,000 shares authorized; 36,486,588, 35,199,744 and 35,012,299 shares issued and outstanding as of September 30, 2006, December 31, 2005 and September 30, 2005, respectively 365 352 350 Additional paid-in capital 655,290 606,001 583,903 Dividends payable - - (9,259) Retained earnings 186,979 100,141 41,682 Stock held by subsidiary (162,480) (132,791) (101,924) Stock held in trust (1,405) (808) (808) Accumulated other comprehensive loss (5,183) (36,892) (11,297) Total stockholders' equity 673,566 536,003 502,647 $ 1,503,095 $ 1,144,769 $ 968,852
Please reference attached financial statement notes. JONES LANG LASALLE INCORPORATED Summarized Consolidated Statements of Cash Flows For the Nine Months Ended September 30, 2006 and 2005 (in thousands) (Unaudited) Nine Months Ended September 30, ------------------------ 2006 2005 ---------- ---------- Cash provided by earnings $ 154,525 $ 79,286 Cash used in working capital (341) (68,040) Cash provided by operating activities 154,184 11,246 Cash used in investing activities (268,971) (39,071) Cash provided by financing activities 120,189 23,711 Net increase (decrease) in cash and cash equivalents 5,402 (4,114) Cash and cash equivalents, beginning of period 28,658 30,143 Cash and cash equivalents, end of period $ 34,060 $ 26,029 Please reference attached financial statement notes. JONES LANG LASALLE INCORPORATED Financial Statement Notes 1. EBITDA represents earnings before interest expense, net of interest income, income taxes, depreciation and amortization. Although EBITDA is a non-GAAP financial measure, it is used extensively by management and is useful to investors as one of the primary metrics for evaluating operating performance and liquidity. The firm believes that an increase in EBITDA is an indicator of improved ability to service existing debt, to sustain potential future increases in debt and to satisfy capital requirements. EBITDA is also used in the calculations of certain covenants related to the firm's revolving credit facility. However, EBITDA should not be considered as an alternative either to net income or net cash provided by operating activities, both of which are determined in accordance with GAAP. Because EBITDA is not calculated under GAAP, the firm's EBITDA may not be comparable to similarly titled measures used by other companies. Below is a reconciliation of net income to EBITDA (in thousands): Nine Months Ended September 30, ----------------------- 2006 2005 ---------- ---------- Net income $ 95,473 $ 36,786 Add: Interest expense, net of interest income 11,799 3,019 Depreciation and amortization 31,877 24,967 Provision for income taxes 33,648 12,525 EBITDA $ 172,797 $ 77,297 Below is a reconciliation of net cash provided by operating activities, the most comparable cash flow measure on the consolidated statements of cash flows, to EBITDA (in thousands): Nine Months Ended September 30, ----------------------- 2006 2005 ---------- ---------- Net cash provided by operating activities $ 154,184 $ 11,246 Add: Interest expense, net of interest income 11,799 3,019 Change in working capital and non-cash expenses (26,834) 50,507 Provision for income taxes 33,648 12,525 EBITDA $ 172,797 $ 77,297 2. Net debt represents the aggregate of 'Short-term borrowings' and 'Credit facilities,' less 'Cash and cash equivalents.' 3. For purposes of segment operating results, the allocation of restructuring charges (credits) to our segments has been determined to not be meaningful to investors. Additionally, the performance of segment results has been evaluated without these charges (credits) being allocated. 4. The consolidated statements of cash flows are presented in summarized form. For complete consolidated statements of cash flows, please refer to the firm's Quarterly Report on Form 10-Q for the quarter ended September 30, 2006, to be filed with the Securities and Exchange Commission shortly. 5. Beginning in 2006, we have renamed 'Implementation Services' to 'Transaction Services.' 6. Earnings per common share is calculated by dividing net income available to common shareholders by weighted average shares outstanding. Dividend equivalents to be paid on outstanding but unvested shares of restricted stock units are deducted from net income in the period the dividend is declared when calculating net income available to common shareholders.
Three Months Ended Nine Months Ended September 30, September 30, ------------------------------- ------------------------------- 2006 2005 2006 2005 -------------- -------------- -------------- -------------- Net income before cumulative effect of change in accounting principle $ 24,697 $ 20,617 $ 94,293 $ 36,786 Cumulative effect of change in accounting principle -- -- 1,180 -- Net income 24,697 20,617 95,473 36,786 Dividends on unvested common stock -- 386 522 386 Net income available to common shareholders $ 24,697 $ 20,231 $ 94,951 $ 36,400 Basic weighted average shares outstanding 32,106,994 31,576,006 31,771,247 31,296,057 Basic income per common share before cumulative effect of change in accounting principle and dividends on unvested common stock $ 0.77 $ 0.65 $ 2.97 $ 1.17 Cumulative effect of change in accounting principle -- -- 0.04 -- Dividends on unvested common stock -- 0.01 0.02 0.01 Basic earnings per common share $ 0.77 $ 0.64 $ 2.99 $ 1.16 Diluted weighted average shares outstanding 33,751,054 33,425,883 33,319,566 32,990,066 Diluted income per common share before cumulative Effect of change in accounting principle and dividends on unvested common stock $ 0.73 $ 0.62 $ 2.83 $ 1.11 Cumulative effect of change in accounting principle -- -- 0.04 -- Dividends on unvested common stock -- 0.01 0.02 0.01 Diluted earnings per common share $ 0.73 $ 0.61 $ 2.85 $ 1.10
SOURCE Jones Lang LaSalle Incorporated -0- 10/31/2006 /CONTACT: Lauralee E. Martin, Chief Operating and Financial Officer, Jones Lang LaSalle Incorporated, +1-312-228-2073/ /First Call Analyst: / /FCMN Contact: / /Web site: http://www.joneslanglasalle.com / (JLL)