Jon Anda Returns to Morgan Stanley

Will Serve as Vice Chairman of Institutional Securities

New York —

Morgan Stanley (NYSE: MS) today announced that Jon Anda, who previously worked at Morgan Stanley for twenty years, is returning to the Firm as Vice Chairman, Institutional Securities. Mr. Anda, 49, will work closely with senior management on the expansion of Morgan Stanley's client initiatives in the Americas and in Asia.

Until January 2006, Mr. Anda was Co-Head of Global Capital Markets, when he left the Firm to explore other opportunities. Mr. Anda will start his new role effective June 19th, reporting to Walid Chammah, Morgan Stanley's Head of Investment Banking.

Zoe Cruz, Co-President of Morgan Stanley, said, "We are extremely pleased to welcome Jon back to Morgan Stanley. In his twenty-year career at the Firm, Jon established himself as one of the Firm's top bankers. In a variety of challenging assignments across the Firm, Jon proved extremely successful at attracting talent as well as fostering strong client relationships."

Since his promotion to Managing Director as a banker in the Firm's Chicago office in the early 1990's, Jon held a variety of management positions at Morgan Stanley. After heading Global Equity Syndicate in 1994, he moved to Hong Kong to head the Institutional Equity Division and the Investment Banking Division for the Asia region. Upon his return to New York in late 1999, he headed Global Equity Capital Markets and subsequently, Corporate Finance.

Mr. Anda said, "I am thrilled to be back at Morgan Stanley, a firm with a great heritage, terrific talent and a bright future."

Jon graduated from the University of Illinois in 1979 and received a Master of Management in Finance from Northwestern University's Kellogg Graduate School of Management in 1980. He originally joined Morgan Stanley in 1986.

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