Morgan Stanley to Start Trading Under 'MS' Ticker Symbol

New York —

Morgan Stanley (NYSE:MWD) announced today that its common stock will begin trading on the New York Stock Exchange under the symbol 'MS' effective January 17, 2006.

John J. Mack, Chairman and Chief Executive Officer of Morgan Stanley, said, "Our new symbol more closely aligns our ticker with the Morgan Stanley name and better reflects the 'one-firm' approach that we're pursuing. Our global franchise has been operating under the Morgan Stanley name for years, and now we're bringing our ticker symbol in line with that powerful brand name. This new symbol also reflects the actions we're taking to move forward as one firm and work together across businesses to realize the full potential of our global franchise and deliver superior returns to our shareholders."

Morgan Stanley common stock has been trading under the symbol 'MWD' since 1997.

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.