On June 1, 2000 Morgan Stanley's European Credit Research team celebrated at the European Credit Analysts of the Year Awards 2000, held in London's fashionable Prism restaurant. Four of the 11 principal awards were won by Morgan Stanley analysts, with "Top 5" rankings in nine categories.

The awards, voted on by 182 leading European credit investors, are the inaugural event for Credit magazine, the only ranking of its sort in Europe. Most of the team, led by Stephen Penwell, Head of European Credit Research, were present at the ceremony, as the rankings were kept a closely guarded secret.

Winners included:

Neil McLeish	High-Grade Financial Institutions
David Meade	High-Grade General Industrial and Manufacturing sector
Chris Melendes	High-Grade Utilities
David Meade	High-Grade Consumer Products sector

Other highly placed members of the Morgan Stanley team included: Ehsun Khan and Faisal Mian for their research in the High Grade Public sector, Robert Paterson for his work in Asset-Backed Securities, Neil McLeish for Credit Strategy, Jacqui Ronaldson for research into High-Grade Financial Institutions, and Eric Fine and Ehsun Khan for their analysis of European Emerging Markets.

For further information on the awards and on Credit magazine, visit www.creditmag.com.