Morgan Stanley




As Agent Bank, please be advised of the following rate determined on: 31-Jul-2007

Issue               : Morgan Stanley - Series G
                      EUR 2,000,000,000.00 FRN Due 02 May 2014
ISIN Number         : XS0298900217
Common Code/        : 29890021
144A ISIN
Issue Nomin     EUR : 2,000,000,000.00
Period              : 02-Aug-2007 to 02-Nov-2007          Payment Date 02-Nov-2007
Number of Days      : 92
Rate                : 4.66
Denomination EUR    : 50,000.00         2,000,000,000.00

Amount Payable
per Denomination    : 595.44            23,817,777.70

Bank of New York
Rate Fix Desk                           Telephone 44 1202 689580
Institutional Trust Services           Facsimille 44 1202 689601



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