Morgan Stanley (NYSE:MS) announced today its intention to voluntarily delist its structured products currently listed on the American Stock Exchange (AMEX) and set forth in Exhibit A, and transfer the listing of such products to NYSE Arca in connection with NYSE Euronext's acquisition of AMEX and its plans to consolidate all listed exchange-traded funds and structured products on NYSE Arca. The delisting from AMEX is expected to be effective as of market close on November 21, 2008, and the listing on NYSE Arca is expected to be effective before the opening of trading on November 24, 2008.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 35 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

Media Relations Contact: Carissa Ramirez, 212.762.6834

Exhibit A

Title, CUSIP

Global Medium-Term Notes, Series F, 9% Stock Participation Accreting Redemption Quarterly-pay SecuritiesSM due January 20, 2009 (Mandatorily Exchangeable for Common Stock of Exxon Mobil Corporation) 61747W760

Global Medium-Term Notes, Series F, 12.5% Stock Participation Accreting Redemption Quarterly-pay SecuritiesSM due February 20, 2009 (Mandatorily Exchangeable for Common Stock of Target Corporation) 61747W372

Global Medium-Term Notes, Series F, 14% Stock Participation Accreting Redemption Quarterly-pay SecuritiesSM due March 20, 2009 (Mandatorily Exchangeable for Common Stock of Apple, Inc.) 61747W489

Global Medium-Term Notes, Series F, 10% Stock Participation Accreting Redemption Quarterly-pay SecuritiesSM due April 20, 2009 (Mandatorily Exchangeable for Common Stock of AT&T Inc.) 61747W232

Global Medium-Term Notes, Series F, 10% Stock Participation Accreting Redemption Quarterly-pay SecuritiesSM due May 20, 2009 (Mandatorily Exchangeable for Common Stock of Baker Hughes Incorporated) 617480165

Global Medium-Term Notes, Series F, 8% Stock Participation Accreting Redemption Quarterly-pay SecuritiesSM due July 20, 2009 (Mandatorily Exchangeable for Common Stock of Intel Corporation) 617480504

Global Medium-Term Notes, Series F, 12% Stock Participation Accreting Redemption Quarterly-pay SecuritiesSM due July 20, 2009 (Mandatorily Exchangeable for Common Stock of Weatherford International Ltd.) 617480538

Pharmaceutical Basket Opportunity eXchangeablE SecuritiesSM due October 30, 2031, Exhangeable for a Cash Amount Based on the Closing Prices of the Underlying Stocks of the AMEX Equal Weighted Pharmaceutical Index 61744Y520

Medium-Term Notes, Series C, Biotech Basket Opportunity eXchangeablE SecuritiesSM due January 30, 2032 Exchangeable for a Cash Amount Based on the Closing Prices of the Underlying Stocks of AMEX Biotechnology Index 61744Y413

Medium-Term Notes, Series C, BRIDGESSM due December 30, 2008 (Based on the Value of the Russell 2000 Index) 61744Y348

Medium-Term Notes, Series C, BRIDGESSM due December 30, 2008 (Based on the Value of the AMEX Pharmaceutical Index) 61744Y322

Medium-Term Notes, Series C, BRIDGESSM due February 28, 2009 (Based on the Value of Common Stock of Ten Companies) 61744Y280

Medium-Term Notes, Series C, BRIDGESSM due March 30, 2009 (Based on the Value of Common Stock of Ten Companies) 61744Y199

Medium-Term Notes, Series C, BRIDGESSM due June 30, 2009 (Based on the Value of the Dow Jones Industrial Average) 61744Y264

Medium-Term Notes, Series C, BRIDGESSM due July 30, 2009 (Based on the Value of the S&P MidCap 400 Index) 61744Y132

Global Medium-Term Notes, Series C, BRIDGESSM due August 30, 2009 (Based on the Value of Common Stock of Fifteen Companies in the Financial Services Industry) 61748A122

Medium-Term Notes, Series C, BRIDGESSM due October 30, 2009 (Based on the Value of Common Stock of Fifteen Aerospace and Defense Companies) 61744Y249

Global Medium-Term Notes, Series C, BRIDGESSM due December 30, 2009 (Based on the Value of the Dow Jones EURO STOXX 50 Index) 61748A874

Medium-Term Notes, Series C, BRIDGESSM due June 15, 2010 (Based on the Value of Common Stock of Fifteen Companies in the Oil Industry) 61748A114

Global Medium-Term Notes, Series F, Capital Protected Notes due December 30, 2008 (Based on the Value of the Morgan Stanley Capital International EAFE Index) 61746Y361

Global Medium-Term Notes, Series F, Capital Protected Notes due December 30, 2009 (Based on the Value of the AMEX China Index) 61747Y808

Global Medium-Term Notes, Series F, Capital Protected Notes due April 20, 2010 (Based on the Value of a Basket of Three Indices) 61748A585

Global Medium-Term Notes, Series F, Capital Protected Notes due July 20, 2010 (Based on the Value of a Global Basket of Three Indices) 61748A460

Global Medium-Term Notes, Series F, Capital Protected Notes due July 20, 2010 (Based on the Value of a Basket of Three Indices) 61748A494

Global Medium-Term Notes, Series F, Capital Protected Notes due August 30, 2010 (Based on the Decline in the Value of the Philadelphia Stock Exchange Housing Sector Index) 61746Y155

Global Medium-Term Notes, Series F, 1% Capital Protected Notes due October 30, 2010 (Based on the Value of the S&P MidCap 400 Index) 61746Y478

Global Medium-Term Notes, Series C, Capital Protected Notes due January 30, 2011 (Based on the Value of the S&P 500 Index) 61746S646

Global Medium-Term Notes, Series F, Capital Protected Notes due February 20, 2011 (Based on the Value of a Global Basket of Indices) 61750V642

Global Medium-Term Notes, Series C, 1.875% Capital Protected Notes due March 30, 2011 (Based on the Value of the MSCI EAFE Index) 61746S190

Global Medium-Term Notes, Series C, Capital Protected Notes due March 30, 2011 (Based on the Value of the Dow Jones Industrial Average) 61746S539

Global Medium-Term Notes, Series F, .50% Capital Protected Notes due June 30, 2011 (Based on the Value of the S&P 500 Index) 61746Y288

Global Medium-Term Notes, Series F, Capital Protected Notes due August 20, 2011 (Based on a Global Basket of Indices) 61747S413

Global Medium-Term Notes, Series C, Capital Protected Notes due October 30, 2011 (Based on the Value of the Dow Jones Global Titans 50 Index) 61746S273

Global Medium-Term Notes, Series F, Capital Protected Notes due December 30, 2011 (Based on the Value of the S&P 500 Index) 61746Y858

Global Medium-Term Notes, Series C, 1.3% Capital Protected Notes due September 30, 2012 (Based on the Value of Common Stock of Fifteen Companies in the Energy Industry) 61746S422

Medium-Term Notes, Series C, MPSSM due December 30, 2008 (Linked to the S&P 500 Index) 61744Y231

Medium-Term Notes, Series C, MPSSM due December 30, 2009 (Linked to the Dow Jones Industrial Average) 61744Y173

Medium-Term Notes, Series C, MPSSM due February 1, 2010 (Linked to the Russell 2000 Index) 61744Y165

Medium-Term Notes, Series C, MPSSM due June 15, 2010 (Linked to the Morgan Stanley Technology Index) 61744Y140

Global Medium-Term Notes, Series C, 2% MPSSM due December 30, 2010 (Linked to the Nikkei 225 Index) 61748A775

Global Medium-Term Notes, Series C, 2.8% MPSSM due March 30, 2012 (Linked to the Dow Jones High Yield Select 10 Index) 61748A742

Global Medium-Term Notes, Series F, Outperformance PLUSSM due December 20, 2008 (Based on the Performance of the S&P 100 Index Relative to the Russell 2000 Index) 617475322

Global Medium-Term Notes, Series F, Performance Leveraged Upside SecuritiesSM due February 20, 2009 (Based on the Value of the S&P 500 Index) 61747W869

Global Medium-Term Notes, Series F, Performance Leveraged Upside SecuritiesSM due April 20, 2009 (Based on the Value of the S&P 500 Index) 61747W166

Global Medium-Term Notes, Series F, Performance Leveraged Upside SecuritiesSM due May 20, 2009 (Based on the Value of the Dow Jones Industrial Average) 617480157

Global Medium-Term Notes, Series F, Performance Leveraged Upside SecuritiesSM due June 20, 2009 (Based on the S&P 500 Index) 617480314

Global Medium-Term Notes, Series C, PLUSSM due June 30, 2009 (Mandatorily Exchangeable for an Amount Payable in U.S. Dollars Based on the Value of the Nikkei 225 Index) 61746S711

Global Medium-Term Notes, Series C, .5% PROtected Performance Equity Linked SecuritiesSM due December 30, 2011 (Based on the Value of the S&P 500 Index) 61746S877

Global Medium-Term Notes, Series C, .4% PROtected Performance Equity Linked SecuritiesSM due December 30, 2011 (Based on the Value of the Dow Jones Industrial Average) 61746S703

Global Medium-Term Notes, Series C, PROtected Performance Equity Linked SecuritiesSM due December 30, 2011 (Based on the Value of a Basket of Three International Indices) 61746S778

Global Medium-Term Notes, Series F, Protected Absolute Return Barrier Notes due December 20, 2008 (Based on the Price of Shares of the iShares MSCI EAFE Index Fund) 61747S264

Global Medium-Term Notes, Series F, Protected Absolute Return Barrier Notes due June 20, 2009 (Based on the Value of the S&P 500 Index) 61747W745

Global Medium-Term Notes, Series F, Protected Absolute Return Barrier Notes due July 20, 2009 (Based on the Value of the S&P 500 Index) 61747W364

Global Medium-Term Notes, Series F, Protected Absolute Return Barrier Notes due September 20, 2009 (Based on the Value of the S&P 500 Index) 61747W141

Global Medium-Term Notes, Series F, Protected Absolute Return Barrier Notes due October 20, 2009 (Based on the Value of the S&P 500 Index) 617480116

Global Medium-Term Notes, Series F, Protected Absolute Return Barrier Notes due December 20, 2009 (Based on the Value of the S&P 500 Index) 617480421

Global Medium-Term Notes, Series F, Protected Absolute Return Barrier Notes due January 20, 2010 (Based on the Value of the S&P 500 Index) 617480579

Global Medium-Term Notes, Series F, Strategic Total Return Securities due December 17, 2009 (Exchangeable for a Cash Amount Based on the CBOE S&P 500 BuyWrite Index) 61746S398

Global Medium-Term Notes, Series F, 8% Targeted Income Strategic Total Return Securities due March 30, 2010 (Exchangeable for a Cash Amount Based on the CBOE S&P 500 BuyWrite Index) 61746Y734

Global Medium-Term Notes, Series F, Strategic Total Return Securities due July 30, 2011 (Exchangeable for a Cash Amount Based on the CBOE DJIA BuyWrite Index) 61748A676

Global Medium-Term Notes, Series F, 8% Targeted Income Strategic Total Return Securities due July 30, 2011 (Exchangeable for a Cash Amount Based on the CBOE DJIA BuyWrite Index) 61748A684

Global Medium-Term Notes, Series F, 8% Targeted Income Strategic Total Return Securities due January 15, 2012 (Exchangeable for a Cash Amount Based on the CBOE S&P 500 BuyWrite Index) 61748A643