Morgan Stanley



MORGAN STANLEY - Series 1692 - ISIN XS0337297153 - Maturity Date 29
DECEMBER 2009 - GBP 10,000,000

Please be advised the following issue has been repurchased for GBP 5,017,000 on
22 APRIL 2008.

The outstanding balance will therefore be GBP 4,983,000

Please amend your records accordingly.
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