Morgan Stanley



Please be advised the following issue has been repurchased for GBP 750,000 on 18
Jul 08

Morgan Stanley - 1692 - XS0337297153 - Maturity Date - 29 Dec 11 - O/S Nominal -
                                  GBP 5,983,000

The outstanding balance will therefore be GBP 5,233,000

Please amend your records accordingly.
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