QUANTUMONLINE.COM SECURITY DESCRIPTION:  Morgan Stanley, PROtected Performance Equity Linked Securities (PROPELS) due 12/30/2011, linked to value of a basket of three internation indexes, and issued at $10 per PROPELS. The PROPELS do notl pay interest. At the maturity date of 12/30/2011 the holder will receive a minimum of the $10 principal amount of the notes plus a supplemental redemption amount if the final AVERAGE level of the three Indexes exceed the initial value of the Indexes. The three indexes are the Dow Jones Euro STOXX 50 Index, the FTSE 100 Index and the Nikkei 225 Index (initial values 2,886.05, 4,571.80 and 12, 163.89 respectively as of 4/23/2004). The final average index level will equal the arithmetic average of the closing index level of the Indexes on the eight determination dates during the term of the notes. The determination dates will be December 30 of each year during the term of the notes plus 12/28/2011. The PROPELS are subject to OID accruals (see page PS-28 of the prospectus for details). The Notes are unsecured and unsubordinated senior notes issued by Morgan Stanley and will rank equally with all of their other unsecured and unsubordinated obligations. See the IPO prospectus for further information on the maturity payment and the PROPELS by clicking on the ‘Link to IPO Prospectus’ provided below.

Company's Online Information Links

HOME PAGE:     http://www.morganstanley.com/ (This parent company URL is for reference only and does not have specific information on the security.)

Company's Online SEC EDGAR Filings

Company's SEC EDGAR Filings

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Company's Email Address Links

Inv Rel Email Address	indivfeedback@morganstanley.com
General Email Address	genlfeedback@morganstanley.com
Printed Material Request Form on Website	Go to Email Form

Address and Phone Numbers

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