LVMH and Morgan Stanley have agreed to put their past differences behind them and to resume business relations.  They have ended the court action involving each other in the French courts and they look forward to future opportunities to work together.

Contact: LVMH, DGM Conseil, Olivier Labesse, +33.1.40.70.11.89 
             Morgan Stanley, Media Relations: Euart Glendinning, +44.20.7425.4942 
                                                               Andrea Bothamley, +44.20.7425.4943