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    MSDW Structured Asset SATURNS 2002-03, 7.875% DPL Capital Trust II
    Ticker Symbol: MJT*     CUSIP: 80410A202     Exchange: NYSE
    Security Type:   Third Party Trust Preferred
    * NOTE: This security is no longer trading as of 2/22/2011

    Security has been Called for:  Tuesday, February 22, 2011

    January 28, 2011 -- Structured Asset Trust Unit Repackagings (SATURNS), DPL Capital Security Backed Series 2002-3 Trust (New York Stock Exchange Ticker Symbol “MJT”), announced today that it has received a notice of exercise notifying the Trust of the intended exercise of 100% of the outstanding Call Options representing the right to acquire 54,550 principal amount of the Bonds (which represents 100% of the Bonds held by the Trust), at a price equal to 100% of the principal amount of such Bonds plus accrued interest for settlement on February 22, 2011. Under the terms of the Call Options, the exercise of the Call Options may be rescinded prior to the Intended Settlement Date, in which case settlement of the relevant Call Options would not occur and the Call Options would continue in effect and could be exercised on a subsequent date. If settlement of the Call Options occurs pursuant to the notice of exercise 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 plus the present value of the Class B Unit Interest in relation to each Class B Unit, each in an amount to be determined in accordance with the Trust Agreement.

    QUANTUMONLINE.COM SECURITY DESCRIPTION:  MSDW Structured Asset Corp., Structured Asset Trust Unit Repackagings (SATURNS), DPL Capital Security Backed, Series 2002-3, 7.875% Class A Callable Units, issued in $25 denominations. Underlying securities are the 8.125% trust preferred capital securities due September 1, 2031 issued by DPL Capital Trust II and guaranteed by DPL Inc. (NYSE: DPL). The SATURNS are redeemable anytime at the issuer's option on 30 to 60 days notice at $25 per unit plus accrued and unpaid dividends. If redeemed prior to 3/19/2007 the holders may receive an additional amount of up to $2.50. Distributions are paid semi-annually on 3/1 & 9/1 to holders of record on 2/15 & 8/15 respectively. The company has the right, at any time, to defer interest payments for up to 10 consecutive semi-annual periods (but not beyond the maturity date). To be issued the units must be assigned a rating of at least BBB- by S&P and Baa2 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. 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
    7.88%
    $1.96875
    $25.00
    $25.00
    Called for
    2/22/2011

    9/01/2031
    Baa2 BBB
    12/14/2010
    3/1 & 9/1
    Click for MW ExDiv Date
    Click for Yahoo ExDiv Date
    No

    Go to Parent Company's Record (DPL)

    IPO - 3/15/2002 - 2.18 Million Units @ $25.00/unit.    Link to IPO Prospectus
    Market Value $53.5 Million

    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 Go to SEC Filings

    Address and Phone Numbers
    Address:   1585 Broadway, New York, NY 10036
    Main Phone Number 212-761-4000
    Fax Number Not Available

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