Morgan Stanley Announces Major China University Scholarship Program

Beijing —

BEIJING, November 30, 2006 – Morgan Stanley (NYSE: MS) today announced details of a scholarship program for Chinese university students. In the first phase of the program, the Firm plans to award close to 200 individual scholarships over the next two years to selected students of four of the country’s top ranked universities.

At a ceremony at Beijing University on 24 November, the first 24 students received their Morgan Stanley scholarships.

“We are delighted to be partnering with prestigious universities like BeiDa in nurturing some of China’s brightest young talent,” remarked Wei Christianson, Morgan Stanley China CEO, at last Friday’s ceremony. “Morgan Stanley is committed to China for the long term. Our commitment manifests itself not only in how we invest in our businesses here, but also in investments in people. People are the most important asset of any country, and of any investment bank.”

In addition to the Beijing University scholarships, Morgan Stanley plans to work with Tsinghua, Fudan and Jiaotong universities on student scholarships. Students from business/economics/ finance, technological/engineering and other faculties will be eligible and will be selected on academic performance criteria by the participating universities, with input from Morgan Stanley.

Morgan Stanley anticipates an increased need for highly educated financial services and information technology professionals in China in the coming years, to service the country’s fast growing financial sector.

Morgan Stanley 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 30 countries. For further information about Morgan Stanley, please visit www.morganstanley.com (English) and www.morganstanleychina.com (Chinese).