NOTIFICATION  OF  THE  REMOVAL  FROM  LISTING  AND REGISTRATION OF THE STATED
SECURITIES

The American Stock Exchange LLC hereby notifies  the  SEC of its intention to
remove   the  entire  class  of  the  stated  securities  from  listing   and
registration  on  the  Exchange  at  the  opening  of business on May 2, 2008
pursuant to the provisions of Rule 12d2-2 (a). 17CFR240.12d2-2(a)(2)

The removal of Morgan Stanley Bear Market PLUS Linked  to  the S&P 500 Index,
maturing April 20, 2008 is being effected because the Exchange  knows  or  is
reliably informed that the entire class of this security was redeemed or paid
at maturity or retirement on April 21, 2008.

The security was suspended by the Exchange on April 21, 2008.