Morgan Stanley



As Agent Bank, please be advised of the following rate determined on: 27-May-2008
Issue              � Morgan Stanley - Series G
                     EUR 2,000,000,000.00 FRN Due 29-Nov-2013
ISIN Number        � XS0276891594
Common Code / 144A � 27689159
 ISIN
Issue Nomin EUR    � 2,000,000,000.00
Period             � 29-May-2008 to 29-Aug-2008            Payment Date 29-Aug-2008
Number of Days     � 92
Rate               � 5.157
Denomination EUR   � 50,000.00             � 2,000,000,000.00     �

Amount Payable per � 658.95                � 26,358,000.00        �
 Denomination

Bank of New York
Rate Fix Desk                              Telephone       � 44 1202 689580
Corporate Trust Services                   Facsimile       � 44 1202 689601



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