Dino Kos Joins Morgan Stanley Investment Management

Strengthens MSIM’s Central Bank and Sovereign Wealth Fund Coverage

Hong Kong —

Morgan Stanley Investment Management (“MSIM”) today announced the appointment of Dino Kos as Managing Director and Head of Central Banks and Sovereign Wealth Funds (CB & SWF).  Kos will be based in Hong Kong, reporting to Blair Pickerell, Head of MSIM Asia, and will be responsible for all aspects of MSIM’s CB & SWF coverage outside the U.S.  He will also be responsible for coordination with Morgan Stanley’s Institutional Securities Group CB & SWF coverage team.

“Central Banks and Sovereign Wealth Funds are a key strategic set of clients for both MSIM and the Firm,” commented Blair Pickerell.  “Dino’s extensive experience in this market, combined with his proven leadership abilities, will enable him to make a significant contribution to the growth of our business as we further develop our Central Bank and Sovereign Wealth Fund capabilities.  I am delighted that Dino is joining us.”

Kos joins MSIM from the Federal Reserve Bank of New York, where he was most recently Executive Vice President of the Markets Group, with responsibility for all the trading activity of the Federal Reserve including repo, government securities, foreign exchange and foreign reserves management.  He was also responsible for managing $40 billion equivalent of euro and yen reserves.

“The increasing demand from Central Banks and Sovereign Wealth Funds for tailored investment solutions is creating significant opportunities for those firms with a broad range of sophisticated investment management capabilities,” commented Dino Kos.  “MSIM is one of those firms and I look forward to being part of a business that is positioned for strong growth.”

Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 800 investment professionals around the world and $560 billion in assets under management or supervision as of May 31, 2007.  These entities offer investment management services to a diverse client base, which includes governments, institutions, corporations and individuals.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management, wealth management and credit services.  The firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 32 countries.  For further information about Morgan Stanley, please visit www.morganstanley.com.

Note to Editors:

Dino Kos Biography

1985-Present: Federal Reserve Bank of New York

• 2001-2006: Executive Vice President, Markets Group

• 1993-2000: Head of Foreign Exchange

• 1991-1992: Manager, International Surveillance Staff, Bank Supervision Group

• 1989-1991: Seconded to BIS, Switzerland

Contact: Media Relations, Hugh Fraser, +44.207.425.3923