Morgan Stanley


As Agent Bank, please be advised of the following rate determined on: 31-Oct-2007

Issue               : Morgan Stanley - Series G
                      EUR 2,000,000,000.00  FRN Due 02-May-2014
ISIN Number         : XS0298900217
Common Code/        : 29890021
144A ISIN
Issue Nomin     EUR : 2,000,000,000.00
Period              : 02-Nov-2007 to 04-Feb-2008          Payment Date 04-Feb-2008
Number of Days      : 94
Rate                : 5.003
Denomination EUR    : 50,000.00                   2,000,000,000.00

Amount Payable
per Denomination    : 653.17            26,126,777.70

Bank of New York
Rate Fix Desk                           Telephone 44 1202 689580
Institutional Trust Services  Facsimille          44 1202 689601



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