New Issue: Morgan Stanley prices $4.7 million 0% notes linked to S&P 500

New York, Oct. 26 - Morgan Stanley priced $4.7 million 0% notes due Nov. 24, 2006 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.

At maturity, investors receive par plus double any positive return on the index, with a maximum gain of 11%, or par minus any loss in the index.

Issuer:	Morgan Stanley
Issue:	PLUS (Performance Leveraged Upside Securities) senior medium-term series F notes
Underlying index:	S&P 500
Amount:	$4.7 million
Maturity:	Nov. 24, 2006
Coupon:	0%
Price:	Par of $10.00
Initial index level:	1,179.59
Payout at maturity:	If index return is positive, par plus double return on index, capped at 11% gain; full participation in any loss
Pricing date:	Oct. 21
Settlement date:	Oct. 26
Underwriter:	Morgan Stanley

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