

                                                                    Exhibit 23.3

                         CONSENT OF INDEPENDENT AUDITORS

We consent to the incorporation by reference in the Registration Statement on
Form S-8 of Morgan Stanley, Dean Witter, Discover & Co., pertaining to the
Morgan Stanley Group Inc. 1995 Equity Incentive Compensation Plan, Morgan
Stanley Group Inc. 1988 Equity Incentive Compensation Plan, and Morgan Stanley
UK Group Profit Sharing Scheme, of our reports with respect to the consolidated
financial statements and financial statement schedule of Morgan Stanley Group
Inc. dated January 7, 1997 included and incorporated by reference in its Annual
Report on Form 10-K for the fiscal year ended November 30, 1996 and dated May
27, 1997 included in the Current Report on Form 8-K of Morgan Stanley, Dean
Witter, Discover & Co. dated May 31, 1997, filed with the Securities and
Exchange Commission.


/s/ ERNST & YOUNG LLP


New York, New York
June 2, 1997


