Morgan Stanley



Please be advised the following issue has been repurchased for GBP 218,033 on
15/08/08

Issue Morgan Stanley - Series 1675 - ISIN XS0336050645 - Maturity Date 22/01/13
- O/S Nominal GBP 5,662,293

The outstanding balance will therefore be GBP 5,444,260

Please amend your records accordingly.


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