1st August 2006

Dominic BurkeChief Executive

Today’s Meeting

• 2006 Interim Results

• Operational Review

– Strengthened management team– Business reviews– JLT Risk Solutions – Update on ongoing review of costs– Proposed closure of UK Defined Benefit Pension

Scheme

• Outlook

Actual Growth1H 2006 1H 2005 Growth at CRE

Turnover 260.4 250.7 4% 3%

£ Million

Diluted Earnings per share 14.5p 15.8p (8%)

Financial Highlights

CRE – Adjusted growth at achieved constant rates of exchange

Trading Profit 38.3 42.0 (9%) (3%)

Underlying Profit Before Tax 47.1 47.3 - 5%

Interim Dividend per share 8.5p 8.5p -

50

55

60

65

70

75

80

85

90

95

100

2004 2005

86.3%82.1%

Full year

First Half

1H83.2%

2006

1H85.3%

1H75.7%

Expense Ratio

Turnover

Risk & Insurance 219.8 5% 5% 18% 22%

Employee Benefits 37.5 9% 9% 16% 15%

Other 3.1 - - - -

Growth

260.4 4% 3% 15% 17%

ActualAt CRE

1H 2006

Trading Margin

1H 20061H 2005

£ Million

Canada 8.7 27% 12% 8% (2%)

USA 19.2 22% 16% 9% 13%

Australia & NZ 32.1 (3%) (3%) 31% 36%

Latin America 8.5 7% 1% 13% 15%

Total 219.8 5% 5% 18% 22%

Risk Solutions Group 61.2 (1%) 1% 14% 18%

Asia 16.9 13% 7% 23% 22%

Risk & Insurance

Agnew Higgins 9.6 63% 62% 17% 2%

UK/Ireland 23.4 7% 7% 13% 13%

JLT Re 24.7 (6%) (2%) 22% 34%

Lloyd & Partners 15.5 8% 14% 23% 34%

Growth

ActualAt CRE

Turnover

Trading Margin

1H 20061H 2005

£ Million

Risk & Insurance

Canada 8.7 27% 12% 8% (2%)

USA 19.2 22% 16% 9% 13%

Australia & NZ 32.1 (3%) (3%) 31% 36%

Latin America 8.5 7% 1% 13% 15%

Total 219.8 5% 5% 18% 22%

Risk Solutions Group 61.2 (1%) 1% 14% 18%

Asia 16.9 13% 7% 23% 22%

Agnew Higgins 9.6 63% 62% 17% 2%

UK/Ireland 23.4 7% 7% 13% 13%

JLT Re 24.7 (6%) (2%) 22% 34%

Lloyd & Partners 15.5 8% 14% 23% 34%

Growth

ActualAt CRE

Trading Margin

1H 20061H 2005

Turnover

£ Million

Risk & Insurance

Canada 8.7 27% 12% 8% (2%)

USA 19.2 22% 16% 9% 13%

Australia & NZ 32.1 (3%) (3%) 31% 36%

Latin America 8.5 7% 1% 13% 15%

Total 219.8 5% 5% 18% 22%

Risk Solutions Group 61.2 (1%) 1% 14% 18%

Asia 16.9 13% 7% 23% 22%

Agnew Higgins 9.6 63% 62% 17% 2%

UK/Ireland 23.4 7% 7% 13% 13%

JLT Re 24.7 (6%) (2%) 22% 34%

Lloyd & Partners 15.5 8% 14% 23% 34%

Growth

ActualAt CRE

Trading Margin

1H 20061H 2005

Turnover

£ Million

Risk & Insurance

Canada 8.7 27% 12% 8% (2%)

USA 19.2 22% 16% 9% 13%

Australia & NZ 32.1 (3%) (3%) 31% 36%

Latin America 8.5 7% 1% 13% 15%

Total 219.8 5% 5% 18% 22%

Risk Solutions Group 61.2 (1%) 1% 14% 18%

Asia 16.9 13% 7% 23% 22%

Agnew Higgins 9.6 63% 62% 17% 2%

UK/Ireland 23.4 7% 7% 13% 13%

JLT Re 24.7 (6%) (2%) 22% 34%

Lloyd & Partners 15.5 8% 14% 23% 34%

Growth

ActualAt CRE

Trading Margin

1H 20061H 2005

Turnover

£ Million

Risk & Insurance

Canada 8.7 27% 12% 8% (2%)

USA 19.2 22% 16% 9% 13%

Australia & NZ 32.1 (3%) (3%) 31% 36%

Latin America 8.5 7% 1% 13% 15%

Total 219.8 5% 5% 18% 22%

Risk Solutions Group 61.2 (1%) 1% 14% 18%

Asia 16.9 13% 7% 23% 22%

Agnew Higgins 9.6 63% 62% 17% 2%

UK/Ireland 23.4 7% 7% 13% 13%

JLT Re 24.7 (6%) (2%) 22% 34%

Lloyd & Partners 15.5 8% 14% 23% 34%

Growth

ActualAt CRE

Trading Margin

1H 20061H 2005

Turnover

£ Million

Risk & Insurance

Canada 8.7 27% 12% 8% (2%)

USA 19.2 22% 16% 9% 13%

Australia & NZ 32.1 (3%) (3%) 31% 36%

Latin America 8.5 7% 1% 13% 15%

Total 219.8 5% 5% 18% 22%

Risk Solutions Group 61.2 (1%) 1% 14% 18%

Asia 16.9 13% 7% 23% 22%

Agnew Higgins 9.6 63% 62% 17% 2%

UK/Ireland 23.4 7% 7% 13% 13%

JLT Re 24.7 (6%) (2%) 22% 34% Lloyd & Partners 15.5 8% 14% 23% 34%

Growth

ActualAt CRE

Trading Margin

1H 20061H 2005

Turnover

£ Million

JLT Re – Market Share

Aviation £50m*

17%

Marine & Energy£80m*

Non Marine£2bn*

Less than 1%

10%

*Estimated global reinsurance brokerage

Risk & Insurance

Canada 8.7 27% 12% 8% (2%)

USA 19.2 22% 16% 9% 13%

Australia & NZ 32.1 (3%) (3%) 31% 36%

Latin America 8.5 7% 1% 13% 15%

Total 219.8 5% 5% 18% 22%

Risk Solutions Group 61.2 (1%) 1% 14% 18%

Asia 16.9 13% 7% 23% 22%

Agnew Higgins 9.6 63% 62% 17% 2%

UK/Ireland 23.4 7% 7% 13% 13%

JLT Re 24.7 (6%) (2%) 22% 34%

Lloyd & Partners 15.5 8% 14% 23% 34%

Growth

ActualAt CRE

Trading Margin

1H 20061H 2005

Turnover

£ Million

• Good client retention with long term contracts renewing

• Closure of Defined Benefits schemes continue to provide opportunities

• ‘New World’ benefits providing increasing opportunities

Employee Benefits

37.5 9% 9% 16% 15%

Trading MarginGrowth

ActualAt CRETurnover 1H 2006

1H 2005

£ Million

Today’s Meeting

• 2006 Interim Results

• Operational Review

– Strengthened management team– Business reviews– JLT Risk Solutions– Update on ongoing review of costs– Proposed closure of UK Defined Benefit Pension

Scheme

• Outlook

Operational ReviewStrengthened management team

• Group Board

– Brian Carpenter CEO Australasia – William Nabarro Executive Chairman,

Employee Benefits Groupand GroupCommercial Director

– Jim Rush New Finance Director

• Group Executive Committee

– Mark Drummond-BradyMartin Hiller

– Adrian Girling JLT Corporate Risks– Alan Griffin JLT Re

} JLT Risk Solutions

• Review of trading activities and strategic positioning of each business stream

• Dedicated project team has already undertaken a thorough review

– validated JLT’s clear leadership position in certain territories and chosen industries and product areas

– underlined the ability and determination of JLT’s people

Operational Review Business reviews

Operational Review Business reviews

• Broad directions have emerged:

– to concentrate on existing areas of proven business and management strength

• Broad directions have emerged:

– to concentrate on existing areas of proven business and management strength

– to improve the balance between one-off income generated from specialist services and recurring income received from providing clients with broader day-to-day services

Operational Review Business reviews

• Broad directions have emerged:

– to concentrate on existing areas of proven business and management strength

– to improve the balance between one-off income generated from specialist services and recurring income received from providing clients with broader day-to-day services

– to focus investment on lower risk initiatives

Operational Review Business reviews

• Broad directions have emerged:

– to concentrate on existing areas of proven business and management strength

– to improve the balance between one-off income generated from specialist services and recurring income received from providing clients with broader day-to-day services

– to focus investment on lower risk initiatives

– to seek out bolt-on consolidation opportunities offering concrete, quantifiable benefits

Operational Review Business reviews

• Merger with JLT UK IB no longer necessary

• Much better communication and collaboration

between JLT RS and JLT UK IB

• Structural Changes

– UK Major corporate accounts JLT UK IB

– Global Aerospace Practice JLT Re

– Global Reinsurance Practice JLT Re

Operational Review JLT Risk Solutions

• Align cost structure with Revenues

• IT systems

– UK IT infrastructure outsourced

– IT applications, support & maintenance outsourced

Operational ReviewUpdate on ongoing review of costs

Operational ReviewUK Defined Benefit Pension Scheme

Current Position

• At 31st December 2005, deficit £146m.

• New entrants have a Defined Contribution Scheme.

• 40% of UK staff in Defined Benefit Pension Scheme.

• Deficit reflects lower investment yields and increasing life expectancy.

• Review undertaken on how to best manage pension issue going forward.

Proposal• Defined Benefit Scheme - closing to existing members.

• Closure of DB Scheme will reduce liabilities under ISA 19.

• A competitive Defined Contribution Scheme will replace the DB Scheme.

• Special contributions to DB Scheme of £65m by 2009.

• To remove the volatility of DB Scheme – not a cost cutting exercise

• Currently in consultation with UK staff.

Operational ReviewUK Defined Benefit Pension Scheme

Jardine Lloyd Thompson Group plcOutlook

• 2006 full year – no more than a modest improvement in trading performance over 2005.This remains our view.

• Much progress has been made on many fronts to reshape JLT for the future, the benefits of which will be seen in 2007 and more fully in 2008.

JLT - a strong independent broker