Eileen Murray to Join Morgan Stanley as Head of Global Operations and Technology

New York —

Morgan Stanley announced today that Eileen Murray has been named Head of Global Operations and Technology effective October 21. She will be a member of the Management Committee and supervise the Firm's worldwide operations and information technology needs. She will report to Chairman and Chief Executive Officer John Mack.

Mr. Mack said, "Eileen Murray is an innovative, experienced leader with a proven ability to build strong teams and leverage technology to provide global financial services firms with a competitive advantage. She also is a leader of the highest integrity and one committed to the professional development of her colleagues. Her technical knowledge and diverse experience are particularly important in the current industry environment, which is driven by ever-more complex financial products and dramatically growing trading volumes, which require increased efficiency and effective risk management."

Eileen Murray joined Credit Suisse First Boston in 2002 as Head of Global Technology, Operations and Product Control and managed over 7,000 professionals. She was appointed to the firm's Divisional Committee and was the first woman to serve on CSFB's Executive Board.

Prior to CSFB, Ms. Murray had an eighteen-year tenure at Morgan Stanley, starting in 1984. She was Chief Administrative Officer of Morgan Stanley's Institutional Securities Group from 1999 to 2002. In addition, before the merger of Morgan Stanley Group and Dean Witter Discover, Ms. Murray served as Controller and Treasurer of Morgan Stanley Group. She began her Morgan Stanley career as a Senior Analyst in the Controller's office. She became a Vice President in 1988, a Principal in 1991 and a Managing Director in 1994. Prior to joining Morgan Stanley, she worked at the accounting firm of Peat Marwick.

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 28 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations.