About American Stock Exchange
The American Stock Exchange^® (Amex^®) 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 222 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 speak with the Media Contact above.

AMERICAN STOCK EXCHANGE LISTS MORGAN STANLEY’S 9% HITS LINKED TO ARCHER-DANIELS-MIDLAND COMPANY
New York, December 22, 2006 - The American Stock Exchange® (Amex®) today began trading Morgan Stanley’s 9% HITS Linked to the Archer-Daniels-Midland Company. Priced at $10.00 per unit with an initial offer size of 2,650,000 shares, this equity trades under the ticker symbol AND and has a maturity date of January 20, 2008. The notes are issued by Morgan Stanley. The Amex specialist unit is Wolverine Trading LLP. If you would like to receive a copy of the prospectus for AND, please visit the American Stock Exchange website at http://www.amex.com.