August 13, 2010 -- Structured Asset Trust Unit Repackagings (SATURNS), Verizon Global Funding Corp. Debenture Backed Series 2004-1 Trust (New York Stock Exchange Ticker Symbol “HJE”), announced today that it has received a Call Notice from King Street Capital Master Fund, Ltd. and King Street Capital, L.P. of their intended exercise of 100% of the outstanding Warrants representing the right to acquire a combined Unit Principal Balance of 60,000,000 Class A Units and the Applicable Class B Equivalent Amount of Class B Units for settlement on August 30th, 2010. Under the terms of the Warrants, delivery of a Call Notice does not give rise to an obligation on the part of the Warrantholder to pay the specified call price; and if by 4 p.m. New York time on the Business Day prior to the Intended Settlement Date the party exercising the Warrants has not paid the required call price, the Call Notice will be effectively rescinded, in which case settlement of the relevant Warrants would not occur and the Warrants would continue in effect and could be exercised on a subsequent date. If settlement of the Warrants occurs pursuant to the Call Notice on the Intended Settlement Date, then Class A Unitholders will receive the par value plus accrued interest of each Class A Unit and Class B Unitholders will receive accrued interest outstanding on each Class B Unit, each in an amount to be determined in accordance with the Trust Agreement.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  MS Structured Asset Corp., SATURNS (Structured Asset Trust Unit Repackagings), Verizon Global Funding Corp. Debenture Backed, Series 2004-1, 6.125% Class A Callable Units, issued in $25 denominations. Underlying securities are the 7.75% Debentures due 12/01/2030 issued by Verizon Global Funding Corp., a subsidiary of Verizon Communications Inc. (NYSE: VZ). Distributions of 6.125% ($1.53125) per annum are paid semi-annually on 6/1 & 12/1 to holders of record on the third business day prior to the payment date. On or after 1/08/2009 the units may be redeemed under the call rights of the swap agreement for $25 plus accrued and unpaid interest. To be issued the units must be assigned a rating of at least BBB- by S&P and Baa3 by Moody's. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. On 11/8/02 MSDW Structured Asset Corp. changed their name to MS Structured Asset Corp. MS Structured Asset Corp. is a subsidiary of Morgan Stanley (NYSE: MS). See the IPO prospectus for further information on the SATURNS 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	6.13% $1.53125	$25.00 $25.00	Called for 8/30/2010 12/01/2030	A3 A 9/17/2009	6/1 & 12/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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Address:   1585 Broadway, New York, NY 10036
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