PROSPECTUS Dated January 24, 1997                 Pricing Supplement No. 30 to
PROSPECTUS SUPPLEMENT                     Registration Statement No. 333-18005
Dated January 24, 1997                                          April 10, 1997
                                                                Rule 424(b)(3)
                           Morgan Stanley Group Inc.
                          MEDIUM-TERM NOTES, SERIES C
                          Senior Floating Rate Notes


               The Medium-Term Notes, Series C (Senior Floating Rate Notes)
described in this Pricing Supplement (the "Notes") will mature on the Maturity
Date and will not be redeemable at the option of Morgan Stanley Group Inc.
prior to the Maturity Date.  The Notes are further described under
"Description of Notes--Floating Rate Notes" in the accompanying Prospectus
Supplement, except that to the extent the terms described below are
inconsistent with such description, the terms described below shall control.

Principal Amount:  $45,000,000

Maturity Date:  April 15, 1999; provided that if such day is not a Business
                Day, the payment of principal and interest will be made on
                the next succeeding Business Day, and no interest on such
                payment shall accrue for the period from and after the
                Maturity Date

Interest Accrual Date:  April 15, 1997

Interest Payment Dates:  Each January 15, April 15, July 15, and October
                         15, commencing July 15, 1997; provided that the
                         final Interest Payment Date will be the Maturity
                         Date.  If any such day (other than the Maturity
                         Date) is not a Business Day, such Interest Payment
                         Date will be the next succeeding Business Day,
                         except that if such Business Day is in the next
                         succeeding calendar month, such Interest Payment
                         Date shall be the next preceding day that is a
                         Business Day

Initial Interest Rate:  5.85641%

Base Rate:  LIBOR

Index Maturity:  3 Months

Spread (Plus or Minus):  Plus .04%

Minimum Denomination:  $1,000

Interest Payment Period:  Quarterly

Specified Currency:  U.S. Dollars

Issue Price:  100.00%

Settlement Date (Original Issue Date):  April 15, 1997

Initial Interest Reset Date:  July 15, 1997, or if such day is not a
                              Business Day, the next succeeding Business
                              Day, except that if such Business Day is in
                              the next succeeding calendar month, such
                              Initial Interest Reset Date shall be the next
                              preceding day that is a Business Day

Interest Reset Dates:  Same as Interest Payment Dates

Interest Reset Period:  Quarterly

Interest Determination Dates:  Two London Banking Days prior to each
                               Interest Reset Date

Reporting Service:  Telerate (Page 3750)

Book Entry Note or Certificated Note:  Book Entry Note

Senior Note or Subordinated Note:  Senior Note

Calculation Agent:  The Chase Manhattan Bank

CUSIP:  61745EKE0

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

                             MORGAN STANLEY & CO.
                                 Incorporated