American Stock Exchange Lists 6% SPARQS Based on International Game Technology NEW YORK, Nov. 23 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) today began trading Morgan Stanley, 6% Stock Participation Accreting Redemption Quarterly-pay Securities(SM) ("SPARQS") Mandatorily Exchangeable for Shares of Common Stock of International Game Technology. The new securities trade under the symbol MIS and were issued at a price of $8.85 per unit for 1,880,000 units with a maturity date of December 1, 2005. The new security will bear annual interest of 6% based on the initial offering price of $8.85. Interest will be payable quarterly beginning March 1, 2005. At maturity, holders will receive one quarter of one share of International Game Technology common stock in exchange for each SPARQS, subject to the issuer's right to call the SPARQS for the cash call price. The specialist in these securities is Wolverine Trading, L.P. For more information about MIS or other Amex-listed securities, call the Amex Capital Markets Group at (212) 306-1659. The American Stock Exchange(R) (Amex(R)) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 143 ETFs. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit http://www.amex.com/. DATASOURCE: The American Stock Exchange CONTACT: Dan Charnas of the American Stock Exchange, +1-212-306-1654, Web site: http://www.amex.com/

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