MORGAN STANLEY



Please be advised the following issue has been repurchased for EUR 1,320,000 on
23/07/08

Issue Morgan Stanley - Series 171 - ISIN XS0178997671 - Maturity Date 18/11/13 -
                           O/S Nominal EUR 87,955,000

The outstanding balance will therefore be EUR 86,635,000

Please amend your records accordingly.
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