Morgan Stanley

Morgan Stanley Investment Management Hires Portfolio Managers of 1838 International Equity Fund and Becomes Interim Investment Adviser to the Fund

Jul 28, 2005

New York —

Morgan Stanley (NYSE: MWD) announced today that its Investment Management division (MSIM) has hired Hans van den Berg and David Sugimoto, portfolio managers of the 1838 International Equity Fund (INTEX), an international growth fund. In addition, MSIM has become the interim investment adviser to the Fund.

"We're pleased that Hans and David are coming on board," said Mitch Merin, President and Chief Operating Officer of MSIM. "Their experience and strong track record are good complements to our firm."

The 1838 International Equity Fund was launched in August 1995 with Mr. van den Berg serving as lead manager since its inception. Mr. Sugimoto joined in October 2000. The Fund invests internationally in large- and mid-capitalization growth-oriented companies. It strives to moderate risk through disciplined stock selection and through individual security, sector and regional limits. The Fund's investment approach is not expected to change.

"This move reflects our firm's straightforward strategy – bringing talented investment professionals together; giving them the proper intellectual and capital support; and working hard to deliver good investment results for our clients," said Merin. "And it also enhances our array of products."

Hans van den Berg and David Sugimoto will serve as portfolio managers and Managing Director and Executive Director, respectively and each has more than 20 years of investment experience. Mr. van den Berg is a graduate of Nijenrode Business School in Utrecht, the Netherlands and holds an MBA from Temple University. Mr. Sugimoto holds a BS and MBA from Texas Christian University and holds the CFA designation. They will work in the firm's office in West Conshohocken, PA.

Morgan Stanley Investment Management, with over 400 investment professionals around the world, has more than $416 billion in assets under management or supervision as of May 31, 2005. The division offers investment management services to a diverse client base, which includes governments, institutions, corporations and individuals.

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.