Morgan Stanley



Please be advised the following issue has been repurchased for GBP 440,000 on 26
Sep 08

 Morgan Stanley - 3033 - XS0382144383 - Maturity Date-26 Aug 11 - O/S Nominal -
                                  GBP 5,000,000

The outstanding balance will therefore be GBP 4,560,000

Please amend your records accordingly.


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