Morgan Stanley Schedules Quarterly Investor Conference Call

New York —

Morgan Stanley (NYSE: MS) will hold its first quarter investor conference call, hosted by David H. Sidwell, Executive Vice President and Chief Financial Officer on Wednesday, March 22, 2006 at 11:00 am Eastern time. The call will be available at www.morganstanley.com or by dialing 1-888-481-3045 (passcode 96549389) in the United States. International callers dial 1-617-786-1988 (passcode 96549389). A replay of the call and webcast will be available through April 22, 2006. To listen to the playback dial: 1-888-286-8010 (passcode 38425287) within the United States, or 1-617-801-6888 (passcode 38425287) 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.