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SEC Filings

JONES LANG LASALLE INC filed this Form S-1/A on 07/11/1997
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operating income. Investment Management group activities generate significant
additional business for other parts of the Company's operations, particularly
in the areas of Property Management and Leasing Services and Investment Banking
  The Company maintains an extensive real estate research department which,
with a staff of 12 professionals, monitors real estate and capital market
conditions to enhance investment decisions and identify future opportunities.
In addition to drawing on public sources for information, the research
department utilizes the extensive local presence of LaSalle Partners
professionals throughout the United States to gain proprietary insight into
local market conditions. Representative clients served in 1996 included the
British Coal Pension Fund, California Public Employees' Retirement System,
Cargill, Dai-ichi Life (U.S.A.), Inc. and Oregon Public Employees' Retirement
[Bar graph depicting the Investment Management group's Assets under Management 
                           for the period 1992-1996]
  Private Equity and Debt Investments. The Company introduced its first
institutional investment fund in 1979 and currently has a series of commingled
investment funds with over 115 investors. The Company also has 34 single client
account relationships ("separate accounts") with domestic and international
investors for whom the Company manages private real estate investments. On
behalf of its Investment Management clients, the Company acquires, manages,
leases, finances and divests real estate investments across a broad range of
real estate property types.
  To take advantage of the trend toward globalization of real estate capital
sources, the Company strengthened and extended its international investment
activities with the acquisition in October 1996, of CIN Property Management
(now renamed CIN LaSalle Investment). The Company believes that CIN LaSalle
Investment, the fourth largest manager of real estate equity investments in the
United Kingdom, will expand the Company's investment activities and capital
raising in the United Kingdom and continental Europe. The Company also
initiated opportunistic investment programs in France in 1996, acquiring for
clients one of the first distressed French real estate loan portfolios sold by
financial institutions. The Company believes that significant additional
investment opportunities will arise in France due to existing economic
conditions, and that it is well positioned to play a role in the restructuring
of French real estate assets. The Company currently has approximately 300
assets under investment or property management agreements in the United Kingdom
and France, with a total value of approximately $3.4 billion at March 31, 1997.

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