Morgan Stanley



As Agent Bank, please be advised of the following rate determined on: 29-Apr-2008
Issue              � Morgan Stanley - Series G
                     EUR 2,000,000,000.00 FRN Due 02 May 2014
ISIN Number        � XS0298900217
Common Code / 144A � 29890021
 ISIN
Issue Nomin EUR    � 2,000,000,000.00
Period             � 02-May-2008 to 04-Aug-2008            Payment Date 04-Aug-2008
Number of Days     � 94
Rate               � 5.257
Denomination EUR   � 50,000.00             � 2,000,000,000.00     �

Amount Payable per � 686.33                � 27,453,222.22        �
 Denomination

Bank of New York
Rate Fix Desk                              Telephone       � 44 1202 689580
Corporate Trust Services                   Facsimile       � 44 1202 689601
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