Morgan Stanley


Date: April 21, 2011

Time: 10:00 a.m. Eastern Time


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This presentation is based on information generally available to the public and does not contain any material, nonpublic information.  No representation is made that it is accurate or complete. The presentation has been prepared solely for information purposes; it is not a solicitation of any offer to buy or sell any security or instrument, and has not been updated since it was originally presented.

This presentation may contain forward-looking statements.  You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, which reflect management's current estimates, projections, expectations or beliefs and which are subject to risks and uncertainties that may cause actual results to differ materially.

For a discussion of additional risks and uncertainties that may affect the future results of Morgan Stanley, please see Morgan Stanley's Annual Report on Form 10-K for the year ended December 31, 2010 ("Annual Report on Form 10-K") and Morgan Stanley's Current Reports on Form 8-K.

The presentation may also include certain non-GAAP financial measures. The reconciliation of such measures to the comparable GAAP figures are included in Morgan Stanley's Annual Report on Form 10-K and Morgan Stanley's Current Reports on Form 8-K, which are available on Morgan Stanley's website

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