Philip J. Purcell, Stephen S. Crawford and David H. Sidwell of Morgan Stanley to speak at the 2004 Merrill Lynch Banking and Financial Services Investor Conference

New York, November 5, 2004 — Philip J. Purcell, Chairman and Chief Executive Officer, Stephen S. Crawford, Executive Vice President and Chief Administrative Officer, and David H. Sidwell, Executive Vice President and Chief Financial Officer of Morgan Stanley (NYSE:MWD) will discuss the global financial services industry at the 2004 Merrill Lynch Banking and Financial Services Investor Conference in New York on Monday, November 15th at 2:40 pm Eastern Time. Both live and on-demand versions of the webcast will be available. The on-demand webcast will be available 24 hours after the presentation for a period of 30 days.

Morgan Stanley is a global financial services firm and a market leader in securities, investment management and credit services. With more than 600 offices in 27 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations.

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