I am assuming the top yellow circle is anchored and the bottom yellow circle can move (the line from the top to bottom doesn't need to be vertical). Set the dragged state display as As Composed and the arrow size to 0.0". In the Layout make the horiz line and vertical line (the ones to the right of the bottom yellow circle) as you want it along with the text. Put the label in the drawing and drag it. If the horiz line is what you are building from adjust the x and y until the leader aligns with the horiz line to the right of the bottom yellow circle.
I may have missed some steps, but that is the general idea.
Christopher
http://civil-3d.blogspot.com/
Civil Reminders
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