Morgan Stanley Global Opportunity Bond Fund, Inc. (the “Fund”) (NYSE: MGB) announced today that, in connection with the Agreement and Plan of Reorganization, dated June 19, 2009 (the “Reorganization Agreement”), pursuant to which substantially all the assets of the Fund will be transferred to Morgan Stanley Emerging Markets Debt Fund, Inc. (“Emerging Markets Debt” and, together with the Fund, the “Funds”) in exchange for shares of common stock of Emerging Markets Debt, in the event that the requisite approval of the Reorganization Agreement by the stockholders of the Fund is received, pursuant to the terms of the Fund’s Dividend Reinvestment and Cash Purchase Plan (the “Plan”), the Fund will suspend the Plan in connection with the final dividend to be paid to stockholders of the Fund prior to the closing date of the Reorganization. The stockholder meeting at which the Reorganization Agreement will be voted on will be held on November 18, 2009 and stockholders of record as of September 4, 2009 are entitled to vote thereon.

The final dividend will have the effect of distributing to stockholders of the Fund substantially all of the Fund’s investment company taxable income, if any, for all periods since the inception of the Fund, through and including the valuation date of the Fund’s portfolio as agreed to between the Funds (computed without regard to any dividends paid deduction), and substantially all of the Fund’s net capital gain, if any, realized in such periods (after reduction for any capital loss carryovers).

The Fund’s U.S. investment adviser is Morgan Stanley Investment Management Inc. (“MSIM”), a wholly owned subsidiary of Morgan Stanley. MSIM, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $361 billion in assets under management or supervision as of June 30, 2009. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 37 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.

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