January 30, 2007 -- Structured Asset Trust Unit Repackagings (SATURNS), BellSouth Debenture Backed Series 2001-3 Trust, announced today that a "Trust Wind Up Event" has occurred under the terms of the Trust Agreement governing the Trust and that the Trust will liquidate its assets and terminate. Settlement of a sale of the securities held by the Trust is expected to occur and a liquidation distribution is expected to be made with respect to the Units of the Trust on or about February 7, 2007. The Trust Wind Up Event and requirement for termination of the Trust arose after BellSouth Corporation (successor by merger to BellSouth Capital Funding Corporation) withdrew from listing on the New York Stock Exchange the securities held by the Trust, which had previously given rise to reporting obligations for BellSouth Corporation under the Securities Exchange Act of 1934. BellSouth Corporation subsequently terminated its reporting obligations under the Exchange Act. As a result, the Depositor of the Trust would be unable to meet its Exchange Act reporting obligations in relation to the Trust, which circumstance constitutes a Trust Wind Up Event. Contact: LaSalle Bank National Association, Andy Streepey, ABS Trust Services, 312-904-9387

QUANTUMONLINE.COM SECURITY DESCRIPTION:  MSDW Structured Asset Corp., Structured Asset Trust Unit Repackagings (SATURNS), BellSouth Debenture-Backed, Series 2001-3, 7.125% Callable Units, issued in $25 denominations. Underlying securities are the 7.12% Debentures due 7/15/2097 issued by BellSouth Capital Funding Corp. which is now merged into and succeeded by BellSouth Corp. (NYSE: BLS). The SATURNS are redeemable anytime at the issuer's option on 30 to 60 days notice at $25 per unit plus accrued and unpaid interest. If redeemed prior to 7/15/2006 the holders may receive an additional amount of up to $2.50 per unit. Distributions of 7.125% per annum are paid semi-annually on 1/15 & 7/15 to holders of record on 1/1 and 7/1 respectively. To be issued the units must be assigned a rating of at least AA- by S&P and Aa3 by Moodys. 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. See the IPO prospectus for further information on the SATURNS by clicking on the ‘Link to IPO Prospectus’ provided

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	7.13% $1.78125	$25.00 $25.00	Called for 2/07/2007 7/15/2097	A2 A 1/30/2006	1/15 & 7/15 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
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