($ in thousands, except share data) LPI(1) COMPASS(2) JLW Companies Acquisition Adjustments(3) Pro forma JLL 1998 Revenue $ 304,464 61,385 482,476 - 848,325 Operating expense (4) 256,601 63,622 437,464 3,255 760,942 Operating income (4) 47,863 (2,237) 45,012 (3,255) 87,383 Net income (4) 26,553 (7,014) 27,660 (2,937) 44,262 Adjusted EBITDA $ 61,318 4,900 57,582 - 123,800 1997 Revenue $ 232,984 84,804 436,011 - 753,799 Operating expense 198,333 78,916 399,092 3,255 679,596 Operating income 34,651 5,888 36,919 (3,255) 74,203 Net income 20,695 (4,012) 22,515 (2,753) 36,445 Adjusted EBITDA $ 44,407 15,500 48,667 - 108,574 (1) LaSalle Partners' 1997 results give effect to its initial public offering and related conversion to corporate form, as well as the acquisition of Galbreath. (2) COMPASS results for 1998 and 1997 reflect operating activity for the nine months ended September 30, 1998 and the year ended December 31, 1997, respectively, including the effect of acquisition adjustments for those periods as discussed in the notes to the Consolidated and Combined Financial Statements located elsewhere within this report. (3) Acquisition adjustments give effect to the amortization of goodwill associated with the merger with Jones Lang Wootton and exclude compensation costs resulting from the accounting treatment applied to certain shares to be issued in connection with the merger. (4) 1998 results for LaSalle Partners and Jones Lang Wootton exclude merger related non-recurring charges associated with the acquisition of COMPASS and the merger with Jones Lang Wootton. 1999 © by Jones Lang LaSalle IP, Inc. All rights reserved.