In International Financing Review's "Review of the Year 1999" (December 18th issue), Morgan Stanley is awarded Eurobond House of the Year and U.S. Equity House of the Year. IFR writes (Eurobond House of the Year), "Morgan Stanley [Dean Witter] has developed the most evenly balanced market presence of any of the U.S. securities firms active on both sides of the Atlantic. Self-evidently a member of the U.S. bulge bracket of domestic bond underwriters, it has also become arguably the leading non-European player in the euro and one of the top bookrunners of sterling and yen bonds."

In addition, IFR writes (U.S. Equity House of the Year), "Morgan Stanley has bragging rights to a prime piece of anything and everything that mattered in the U.S. equity capital markets in 1999. … The centre-piece of the firm's U.S. business was the landmark mandate for United Parcel Services, the world's largest package delivery company." The UPS IPO received IFR's U.S. Equity Issue of the Year award.

For further information on these prestigious awards, please see International Financing Review's year-end publication.