Peter Bacchus to Join Morgan Stanley

London —

Morgan Stanley today announced the appointment of Peter Bacchus as a Managing Director in the Firm's Global Basic Materials Group. He will join the Firm in early autumn 2006.

Mr. Bacchus joins the Firm after six years at Citigroup, where most recently he was Co-Head of Asia-Pacific Diversified Industrials and Head of Mining and Metals, Australia, Asia & Africa. In his new position, Mr. Bacchus will be based in London and will be responsible for Morgan Stanley's investment banking activities in the Metals & Mining sector in Europe. In addition he will assist with select client initiatives around the world.

Commenting on the appointment, Franck Petitgas, Head of European Investment Banking, said: "We are delighted that Peter is joining Morgan Stanley. The appointment of such a key industry player will significantly enhance our capabilities in this sector and will provide valuable expertise to our clients. He will be an exceptional asset to the team."

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 30 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations.


NOTES FOR EDITORS:

Peter Bacchus

Qualifications: MA Cambridge University; Chartered Accountant, England & Wales

Career History:

• 2000-Current: Citigroup, Managing Director, Co-Head Asia-Pacific Diversified Industrials and Head Mining & Metals, Australia, Asia & Africa.

• 1995-2000: JP Morgan, Director, Mergers & Acquisitions, London, Jakarta & Sydney.

• 1992-1995: Price Waterhouse, ACA.

• 1987-1992: Foreign & Commonwealth Office (including study).


Carlos Melville

Corporate Communications

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