Morgan Stanley

Morgan Stanley Declares a Dividend on its Series A Floating Rate Non-Cumulative Preferred Stock

Sep 20, 2006

New York —

Morgan Stanley (NYSE:MS) today reported that its Board of Directors has declared a quarterly dividend of $ 433.85 per share of Series A Floating Rate Non-Cumulative Preferred Stock (represented by depositary shares, each representing 1/1,000th interest in a share of preferred stock) to be paid on October 16, 2006 to preferred shareholders of record on September 30, 2006.

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.