Morgan Stanley Announces Second Quarter Results

New York —

Morgan Stanley (NYSE: MWD) will hold its second quarter investor conference call, hosted by Chief Financial Officer David H. Sidwell, on Wednesday, June 22, 2005 at 11:00 am Eastern time. The call will be available at www.morganstanley.com or by dialing 1-877-810-2623 (passcode 40310549) in the United States. International callers dial 1-617-786-1488 (passcode 40310549). A playback of the call will be available through July 22, 2005 and a replay of the webcast will be available through June 22, 2006. To listen to the playback dial: 1- 888-286-8010 (passcode 22526836) within the United States, or 1-617-801-6888 (passcode 22526836) internationally.

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.

To access the press release and webcast, please click here.