This summary is based on the fourth quarter fiscal 2007 earnings call conducted by Jones Lang LaSalle (JLL: chart) on January 30, 2008

Management:

- President and CEO: Colin Dyer
- COO and CFO: Lauralee E. Martin

Key Investor Issues:

- Revenues increased 22% to $862 million, while net income was up 30% to $105 million or $3.16 a share.
- Jones Lang LaSalle was named to the Forbes 400 best big companies list for the third consecutive year.
- The firm completed 13 strategic acquisitions globally during the course of the year.

Full Year Highlights

- Revenues increased 32% for the year to a record $2.7 billion.
- Operating income increased by 40% to $342 million, another record.
- The firm reported record debt income of $256 million, a 46% increase over 2006, and 2007 earnings per share totaled $7.64, up from $5.24 per share the previous year.

Fourth Quarter Highlights

Net income was $105 million, or $3.16 per share, an increase of 30%, over net income of $80.4 million, or $2.37 per share, for the same period in 2006.

- Revenue was $862 million, an increase of 22% from 2006, with all segments showing healthy increases.
- Operating income rose 23% to $140 million from $114 million in the prior year.
- Primary uses of cash for growth during the year included $134 million for acquisition, a net increase of co-investments of $20 million to support the growth of LaSalle Investment Management Fund.
- The firm repurchased 367,000 shares bringing the total year to over just 1 million of repurchased shares.

In the Americas region new talent investment costs were not fully covered by over performance and strength of the base business.

- Revenue was $250 million, an increase of 11% from 2006.
- Management Services grew 23% for both the year and the quarter.
- Transaction Services revenue was flat for the quarter.

The firm kept operating income margins at last year''s levels for the full year.

The accounts business grew by 20% due to expanding existing relationships as well as adding new corporate clients. Historically this business has been counter-cyclical in slower growth periods.

The Public Institutions group which focuses on the government and higher education spaces grew almost 25%.

- Additional strong growth year-over-year came from the project management business, the West Coast leasing teams, as well as outstanding performance from Mexico and South America.
- The firm experienced revenue declines of almost 35%, in U.S. capital markets due to slower investment sales and tightened credit markets, and a decline in large leasing transactions in the New York area as the financial sector delayed decisions on large transactions.

Leasing revenue across the Americas was up 10%.

This reflects significant expansion in targeted key markets, where the firm is gaining market share, together with increased tenant representation transaction due to the growth in new accounts.

The overall capital markets'' revenue for the EMEA region decreased only 12% for the quarter, and the region''s full year revenue grew at just over 20%.

- The U.K. capital markets'' decrease was offset by increases in the developing markets of Russia, Central and Eastern Europe and the Nordic, as well as the corporate finance group.
- The EMEA region continued to deliver leasing revenue with growth of 40% for both the quarter and the year.