July 19, 2016 -- Morgan Stanley today announced that Morgan Stanley Capital Trust III will redeem all of the issued and outstanding $880,000,000 aggregate liquidation amount of its 6.25% Capital Securities (CUSIP 617460209; NYSE: MWR) on August 18, 2016 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust III Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust III Capital Security plus $0.334201 accumulated but unpaid distributions to but excluding the redemption date. Morgan Stanley also today announced that Morgan Stanley Capital Trust IV will redeem all of the issued and outstanding $620,000,000 aggregate liquidation amount of its 6.25% Capital Securities (CUSIP 617462205; NYSE: MWG) on August 18, 2016 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust IV Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust IV Capital Security plus $0.203993 accumulated but unpaid distributions to but excluding the redemption date. Morgan Stanley also today announced that Morgan Stanley Capital Trust V will redeem all of the issued and outstanding $500,000,000 aggregate liquidation amount of its 5.75% Capital Securities (CUSIP 617466206; NYSE: MWO) on August 18, 2016 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust V Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust V Capital Security plus $0.131771 accumulated but unpaid distributions to but excluding the redemption date. Morgan Stanley also today announced that Morgan Stanley Capital Trust VIII will redeem all of the issued and outstanding $825,000,000 aggregate liquidation amount of its 6.45% Capital Securities (CUSIP 61753R200; NYSE: MSK) on August 3, 2016 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust VIII Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust VIII Capital Security plus $0.080625 accumulated but unpaid distributions to but excluding the redemption date. The Capital Trust III Capital Securities, the Capital Trust IV Capital Securities, the Capital Trust V Capital Securities and the Capital Trust VIII Capital Securities are being redeemed, along with the common securities issued by Morgan Stanley Capital Trust III, Morgan Stanley Capital Trust IV, Morgan Stanley Capital Trust V and Morgan Stanley Capital Trust VIII and held by Morgan Stanley, as a result of the concurrent redemption in their entirety of the junior subordinated debentures that underlie the Capital Trust III Capital Securities, the Capital Trust IV Capital Securities, the Capital Trust V Capital Securities and the Capital Trust VIII Capital Securities, respectively. Beginning on the applicable redemption date, the Capital Trust III Capital Securities, the Capital Trust IV Capital Securities, the Capital Trust V Capital Securities and the Capital Trust VIII Capital Securities will no longer be considered outstanding and distributions will cease to accumulate on such securities. The Bank of New York Mellon, 101 Barclay Street, New York, New York 10286, is the paying agent for the Capital Trust III Capital Securities, the Capital Trust IV Capital Securities, the Capital Trust V Capital Securities and the Capital Trust VIII Capital Securities.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Morgan Stanley Capital Trust III, 6 1/4% Capital Securities, liquidation amount $25 per share, guaranteed by Morgan Stanley (NYSE: MS) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 3/01/2008 at $25 per share plus accrued and unpaid dividends, and maturing 3/01/2033 which may be extended to 3/1/2052. Distributions of 6 1/4% ($1.5625) per annum are paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the 15th calender day of the month prior to the payment date (note that the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by trust preferred securities are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 6 1/4% Junior Subordinated Deferrable Interest Debentures due 3/01/2033 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	6.25% $1.5625	$25.00 $25.00	Called for 8/18/2016 3/01/2033	Baa3 BB 10/29/2015	3/1, 6/1, 9/1 & 12/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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Address:   1585 Broadway, New York, NY 10036
Main Phone Number	212-761-4000
Fax Number	212-761-0086
Investor Contact   William Pike	212-761-0008
Toll Free Phone Number	800-733-2307

CEO - John J. Mack

CFO - David H. Sidwell