Morgan Stanley Sponsors The First Emperor: China's Terracotta Army at the British Museum

Beijing —

Beijing, 8 March 2007 - Morgan Stanley announced today its sponsorship of The First Emperor: China's Terracotta Army, a major loan exhibition opening at The British Museum, London, opening on 13 September 2007. Featuring many special antique figures rarely seen outside China, the exhibition will offer an introduction to the life of the First Emperor, Qin Shihuangdi, and the significant impact he had on the development of China as a nation.

The exhibition is of particular significance to Morgan Stanley as the Firm has been working with clients in China for many decades and continues to increase its presence and franchise in the country. In 1995, Morgan Stanley was the first international securities firm to participate in China's first joint venture investment bank, China International Capital Corporation Limited, and, with its acquisition of Nan Tung Bank in 2006, was the first among its peers to establish an onshore commercial banking platform in China.

Wei Christianson, China CEO, Morgan Stanley, said: “We are thrilled to be partnering with the British Museum for this tremendously exciting exhibition. Morgan Stanley was the first to bring international investment banking services to China and we are very proud to be able to help bring to Europe this rare insight into China's past, the first time many of these treasures will ever have left China. This will be an extraordinary exhibition in every way."

Morgan Stanley's sponsorship will also support the British Museum's education program which, through extensive teaching program for UK schools and adult learning, will provide a generation with a unique opportunity to gain a greater understanding of China's past, present and future.

Neil MacGregor, Director of the British Museum, said: "We are most grateful to Morgan Stanley for their generous sponsorship of the exhibition which has enabled us to give visitors the opportunity to see these important and iconic objects in London and to learn more about China's past and present."

Note to Editors:

Morgan Stanley

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).

Morgan Stanley's Arts and Education Programs

As a global financial services firm, Morgan Stanley supports an extensive program of cultural and educational projects, believing firmly in the benefits these bring to the communities in which the Firm operates. In Greater China, Morgan Stanley has supported a range of arts programs and institutions, such as

• The China National Symphony Orchestra (1999)

• Inside Out – an exhibition of modern Chinese art in Hong Kong (2000)

• The Hong Kong Competition for Young Asian Musicians (2001)

• The Hong Kong Arts Festival (since 2000) including newly commissioned works by the China National Theatre Company: Amber (2005) and Lost Village (2007)

Morgan Stanley also offers a range of scholarships to eligible students in Greater China.

About the Exhibition

The exhibition will run from 13 September 2007 until 6 April 2008. It will examine the impact and legacy of Qin Shihuangdi, who first united the various warring states of China into one political body in 221BC, making China the oldest surviving political entity in the world. The initial construction of the Great Wall began under his reign and he presided over the standardization of coinage, weights and measures as well as script, which represented a huge step towards the development of China as a nation. The exhibition will offer an introduction to the First Emperor’s life and, through the use of new research and excavation, a reassessment of his most enduring physical legacy, his tomb. The exhibition will include over 120 loan objects, including 20 complete figures from the tomb of the First Emperor. For further information about the exhibition, please access the British Museum website www.thebritishmuseum.ac.uk.

Contact: Media Relations

Poling Cheung

+852 2848 6501