Morgan Stanley

Morgan Stanley - Series 534 - ISIN XS0227457354

            Maturity Date 14 October 2013 O/S Nominal EUR 182,892,000

Please be advised the following issue has been repurchased for EUR 1,112,500 on
11 June 2008

The outstanding balance will therefore be EUR 181,780,000

Please amend your records accordingly.


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