Morgan Stanley Statement On Paying Back TARP Funds

New York —

Morgan Stanley is pleased to be repaying its $10 billion in TARP capital with an attractive return for taxpayers.  We believe this positive development reflects both Morgan Stanley's strong capital position as well as the important systemic role the TARP program played in helping stabilize the U.S. banking system since the height of the financial crisis.  After exiting the TARP program, Morgan Stanley will continue working closely with the Obama administration, elected officials, our regulators and our peers on the best possible framework to ensure the safety and soundness of the U.S. banking system.

Media Relations, Jeanmarie McFadden, 212.762.6901 
Investor Relations, Suzanne Charnas, 212.761.3043


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