American Stock Exchange Lists SPARQS Linked to NVIDIA NEW YORK, Nov. 23 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) today began trading Morgan Stanley, 10% Stock Participation Accreting Redemption Quarterly-pay Securities(SM) ("SPARQS") Mandatorily Exchangeable for Shares of Common Stock of NVIDIA Corporation. The new securities were issued at a price of $19.47 per unit with a maturity date of December 1, 2005. The new security, which trades under the symbol SND, will bear annual interest of 10% based on the initial offering price. Interest will be payable quarterly beginning March 1, 2005. At maturity, holders will receive one share of NVIDIA Corporation common stock in exchange for each SPARQS, subject to the issuer's right to call the SPARQS for the cash call price. The issuer is Morgan Stanley and the Amex specialist unit for the new listing is AIM Securities. If you would like to receive a copy of the prospectus for SND, please contact the Capital Markets Group at the American Stock Exchange at (212) 306-1659. The American Stock Exchange(R) (Amex(R)) is the only primary exchange that 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 143 ETFs. 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: Media Contact: Dan Charnas of American Stock Exchange, +1-212-306-1654, or Web site: http://www.amex.com/

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