UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  July 28, 2008

                       Morgan Stanley Spectrum Select L.P.
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            (Exact Name of Registrant as Specified in Its Charter)

        Delaware                    0-19511                      13-3619290
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(State or Other              (Commission File Number)          (IRS Employer
 Jurisdiction of                                             Identification No.)
 Incorporation)

c/o Demeter Management Corporation, 522 Fifth Avenue,
13th Floor, New York, NY                                                10036
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(Address of Principal Executive Offices)                              (Zip Code)

Registrant's telephone number, including area code:   (212) 296-1999

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          (Former Name or Former Address, if Changed Since Last Report)

   Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

   |_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)

   |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

   |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

   |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))



   Item 1.01.  Entry into a Material Definitive Agreement.

     (a) On July 28, 2008, Demeter Management Corporation, the general partner
of the Registrant (the "General Partner") and Altis Partners (Jersey) Limited
("Altis") amended the Management Agreement by and among the Registrant, the
General Partner and Altis, dated as of October 9, 2007, to reduce the monthly
management fee paid to Altis effective August 1, 2008, from 1/12 of 1.75% (a
1.75% annual rate) of the net assets of the Registrant allocated to Altis to
1/12 of 1.25% (a 1.25% annual rate) of the net assets of the Registrant
allocated to Altis. A copy of the amendment is filed herewith as Exhibit
10.19(a) and is incorporated herein by reference.

   Item 9.01.  Financial Statements and Exhibits.

     (d) Exhibits

     Exhibit 10.19(a)   Amendment No. 1 to the Management Agreement among the
                        Registrant, the General Partner, and Altis, dated as of
                        July 28, 2008.



                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                MORGAN STANLEY SPECTRUM SELECT L.P.

Date:  August 1, 2008           By:   Demeter Management Corporation
                                      as General Partner

                                 /s/ Walter Davis
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                                Name: Walter Davis
                                Title: President