NEW YORK, May 24 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) today began trading Morgan Stanley's 8% SPARQS Linked to Valero Energy Corporation. Priced at $18.6275 per unit with an initial offer size of 1,186,420 shares, this equity trades under the ticker symbol SVL and has a maturity date of June 20, 2008. The notes are issued by Morgan Stanley. The Amex specialist unit is AIM Securities. If you would like to receive a copy of the prospectus for SVL, please visit the American Stock Exchange website at http://www.amex.com/. The American Stock Exchange(R) (Amex(R)) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 309 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit http://www.amex.com/. DATASOURCE: American Stock Exchange CONTACT: Maryellen Carew of American Stock Exchange, +1-212-306-1440, Web site: http://www.amex.com/

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