Ben Babcock Joins Morgan Stanley

LONDON--(Business Wire)--
Morgan Stanley (NYSE: MS) announced today the appointment of
Benjamin Babcock as a Managing Director and Head of Restructuring for
EMEA, effective immediately.

Mr. Babcock will be based in London and will be responsible for
advisory and capital markets services for clients in restructuring
situations. He will work in close coordination with Blake O'Dowd,
Managing Director and Head of Restructuring for North America, whom
the Firm hired in December of 2007 as part of a global initiative
to offer clients a full array of financing and capital structure
advisory solutions to complement our existing sales, trading and
principal activities in this area. In his new role, Mr. Babcock will
report to Gavin MacDonald, Managing Director and Global Head of
Mergers & Acquisitions.

Commenting on the appointment, Mr. MacDonald said, "We are very
pleased to have Ben joining Morgan Stanley. He has a wealth of
experience in complex restructurings, an area where we anticipate
significant activity in this challenging economic environment. The
appointments of Ben and Blake demonstrate our commitment to building a
leading global restructuring capability."

Mr. Babcock, 41, has 20 years of financial services experience. He
joins Morgan Stanley from Merrill Lynch, where he was head of European
restructuring for two years. He has also worked for Lazard in their
restructuring group with responsibilities in Canada and Europe and was
a partner at Ernst & Young, specializing in restructuring.

Mr. Babcock added, "I am excited to be joining Morgan Stanley.
With its reputation and world class capabilities, Morgan Stanley
represents an outstanding platform to deliver innovative restructuring
solutions to our clients."

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 600 offices in 33 countries. For
further information about Morgan Stanley, please visit
www.morganstanley.com.

Note to Editors:

Benjamin Babcock

Mr. Babcock holds a Bachelor of Arts degree from the University of
Toronto and is a member of the Institute of Chartered Accountants of
Ontario. From 2006 to 2008 he was a Managing Director at Merrill Lynch
in London and head of their European restructuring group. From 2003 to
2006 he was a Managing Director at Lazard in their restructuring group
covering Canada and Europe. Prior to that he was a partner at Ernst &
Young in Canada where he worked for 14 years in restructuring. His
transaction experience includes: Ontex, Meinl European Land, Parmalat,
Telesystem, International Wireless, Kremikovtzi, TK Aluminum and Air
Canada.

Blake O'Dowd

Mr. O'Dowd received a B.A. in Economics from Duke University in
1987 and an M.B.A. from the Stern School of Business at NYU in 1994.
Prior to joining Morgan Stanley in December of 2007, he was a Managing
Director in the Restructuring Group at Lazard Freres. In his eight
years at Lazard, Blake worked on a broad range of complex
Restructuring, M&A and corporate finance transactions. Prior to that,
he was a Vice President in Alex Brown's Restructuring Group.

Morgan Stanley
Media Relations:
Carlos Melville, +44 20 7425 8955

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