PROSPECTUS Dated March 29, 1995                  Pricing Supplement No. 73 to
PROSPECTUS SUPPLEMENT                     Registration Statement No. 33-57833
Dated March 29, 1995                                           April 26, 1996
							       Rule 424(b)(3)


			   Morgan Stanley Group Inc.
			  MEDIUM-TERM NOTES, SERIES C
			    Senior Fixed Rate Notes


     The Fixed Rate Notes, as further described below and in the Prospectus
Supplement under "Description of Notes --  Fixed Rate Notes," will bear
interest from the date of issuance until the principal amount thereof is paid
or made available for payment at the rate set forth below.

                                                                            
Principal Amount:               $150,000,000               Redemption
							     Percentage:             N/A
Maturity Date:                  May 1, 2001
							   Annual Redemption
Interest Rate:                  6.70% per annum              Percentage
							     Reduction:              N/A
Interest Accrual
  Date:                         May 1, 1996                Interest Payment
							     Period:                 Semiannually
Settlement Date
  (Original Issue                                          Specified Currency:       U.S. Dollars
  Date)                         May 1, 1996
							   Issue Price:              99.807%
Interest Payment
  Dates:                        The first day of each      Book Entry Note or
				May and November,            Certificated Note:      Book Entry Note
				commencing November
				1, 1996, or, if such       Senior Note or
				day is not a Business        Subordinated Note:      Senior Note
				Day, the next
				succeeding Business        Total Amount of OID:      N/A
				Day.
							   Original Yield to
Redemption Dates:               N/A                          Maturity:               N/A

Minimum                                                    Initial Accrual
  Denomination:                 $1000                        Period OID:             N/A

							   Trustee:                  Chemical Bank




 Capitalized terms not defined above have the meanings given to such terms in
		  the accompanying Prospectus Supplement.

			     MORGAN STANLEY & CO.
				 Incorporated