<SUBMISSION>
<ACCESSION-NUMBER>0000950103-06-002687
<TYPE>424B2
<PUBLIC-DOCUMENT-COUNT>2
<FILING-DATE>20061127
<DATE-OF-FILING-DATE-CHANGE>20061127
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>MORGAN STANLEY
<CIK>0000895421
<ASSIGNED-SIC>6211
<IRS-NUMBER>363145972
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1130
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>424B2
<ACT>33
<FILE-NUMBER>333-131266
<FILM-NUMBER>061240063
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1585 BROADWAY
<CITY>NEW YORK
<STATE>NY
<ZIP>10036
<PHONE>212-761-4000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1585 BROADWAY
<CITY>NEW YORK
<STATE>NY
<ZIP>10036
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>MORGAN STANLEY DEAN WITTER & CO
<DATE-CHANGED>19980326
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>DEAN WITTER DISCOVER & CO
<DATE-CHANGED>19960315
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>424B2
<SEQUENCE>1
<FILENAME>dp04111_424b2-ps152.htm
<TEXT>
<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<BR><BR>
<P align="center">
<FONT size=2 face="serif">CALCULATION OF REGISTRATION FEE</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>

<TR valign="bottom">
  <TD width=34% align=center>
  <FONT size=2 face="serif">Title of Each Class of Securities<br>
Offered</FONT></TD>
	<TD align=center width=33%>
<FONT size=2 face="serif">Maximum Aggregate Offering Price</FONT><SUP><FONT size=2 face="serif">(1)</FONT></SUP>	</TD>
	<TD align=center width=33%>
<FONT size=2 face="serif">Amount of Registration Fee</FONT>	</TD>
</TR>
<TR>
	<TD width="34%" align="left">
<HR noshade size=1>	</TD>
	<TD width="33%" align="center">
<HR noshade size=1>	</TD>
	<TD width="33%" align="center">
<HR noshade size=1>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=34%>
<FONT size=2 face="serif">Euro Floating Rate Senior Bearer</FONT>	</TD>
	<TD align=center width=33%>
<FONT size=2 face="serif">&#36;2,581,016,270</FONT>	</TD>
	<TD align=center width=33%>
<FONT size=2 face="serif">&#36;276,168.74</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=34%>
<FONT size=2 face="serif">Notes Due 2013</FONT>	</TD>
	<TD align=center width=33%>&nbsp;	</TD>
	<TD align=center width=33%>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="left">
<FONT size=2 face="serif">(1) The U.S. dollar equivalent of the maximum aggregate offering price has been calculated using an exchange rate of 1.2929 euro per &#36;1.00 as of November 22, 2006.</FONT></P>

<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=50%>
<B><I><FONT size=2 face="serif">PROSPECTUS Dated January 25, 2006</FONT></I></B>	</TD>
	<TD align=right width=50%>
<B><I><FONT size=2 face="serif">Pricing Supplement No. 152 to</FONT></I></B>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=50%>
<B><I><FONT size=2 face="serif">PROSPECTUS SUPPLEMENT</FONT></I></B>	</TD>
	<TD align=right width=50%>
<B><I><FONT size=2 face="serif">Registration Statement No. 333-131266</FONT></I></B>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=50%>
<B><I><FONT size=2 face="serif">Dated January 25, 2006</FONT></I></B>	</TD>
	<TD align=right width=50%>
<B><I><FONT size=2 face="serif">Dated November 22, 2006</FONT></I></B>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=50%>&nbsp;	</TD>
	<TD align=right width=50%>
<B><I><FONT size=2 face="serif">Rule 424(b)(2)</FONT></I></B>	</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=center nowrap><img src="logo.jpg"></TD>
</TR>
<TR valign="bottom">
	<TD align=center width=100% nowrap>
<B><I><FONT size=2 face="serif">GLOBAL MEDIUM-TERM NOTES, SERIES G</FONT></I></B>
	</TD>
</TR>
<TR valign="bottom">
	<TD align=center width=100% nowrap>
<B><I><FONT size=2 face="serif">Euro Floating Rate Senior Bearer Notes Due 2013</FONT></I></B>
	</TD>
</TR>
</TABLE>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="serif">We, Morgan Stanley, may not redeem these Global Medium-Term Notes, Series G, Euro Floating Rate Senior Bearer Notes Due 2013 (the &#147;notes&#148;) prior to the maturity date thereof other
than under the circumstances described under &#147;Description of Notes&#151;Tax Redemption&#148; in the accompanying prospectus supplement.</FONT></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="serif">Application will be made for the notes described herein to be admitted to the Official List of the Financial Services Authority (in its capacity as competent authority for the purposes of
Part VI of the Financial Services and Markets Act 2000) and to trading on the gilt-edged and fixed-interest market of the London Stock Exchange plc. No assurance can be given that such applications will be granted.</FONT></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="serif">This document constitutes the pricing supplement relating to the issuances of notes described herein. Terms used herein shall be deemed to be defined as such for the purposes of the
Conditions set forth in the Base Prospectus referred to above. This pricing supplement is supplemental to and must be read in conjunction with such Base Prospectus.</FONT></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="serif">We will issue the notes only in bearer form, which form is further described under &#147;Description of Notes&#151;Forms of Notes&#148; in the accompanying prospectus supplement. You may not
exchange notes in bearer form at any time for notes in registered form.</FONT></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="serif">We describe the basic features of the notes in the section of the accompanying prospectus supplement called &#147;Description of Notes.&#148; In addition, we describe the basic features of
the notes in the section of the accompanying prospectus called &#147;Description of Debt Securities&#151;Floating Rate Debt Securities,&#148; subject to and as modified by the provisions described below.</FONT></I></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Principal Amount:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Euro 2,000,000,000</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Interest Determination</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Maturity Date:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">November 29, 2013</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="serif">Dates:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">The second TARGET</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Settlement Date</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Settlement Day immediately</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Original Issue Date):</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">November 29, 2006</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">preceding each interest reset</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Interest Accrual Date:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">November 29, 2006</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">date</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Issue Price:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">99.815%</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Reporting Service:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Telerate (Page 248)</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Specified Currency:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Euro</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Business Days:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">London, TARGET Settlement</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Redemption Percentage</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Day and New York</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;at Maturity:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">100%</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Calculation Agent:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">JPMorgan Chase Bank, N.A.</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Base Rate:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">EURIBOR</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">(London Branch)</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Spread (Plus or Minus):</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Plus 0.30%</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Agent:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Morgan Stanley &amp; Co.</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Index Maturity:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Three months</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">International Limited</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Initial Interest Rate:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">The base rate plus 0.30%; to</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Minimum Denominations:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Euro 50,000 and integral</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">be determined on the second</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">multiples of Euro 1,000 in</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">TARGET Settlement Day prior</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">excess thereof</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">to the Original Issue Date.</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Common Code:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">027689159</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Initial Interest Reset Date:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">February 28, 2007</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">ISIN:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">XS0276891594</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Interest Payment Dates:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Each February 28, May 29,</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Other Provisions:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">None</FONT></I>
	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">August 29 and November 29,</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">commencing February 28,</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">2007</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Interest Payment Period:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Quarterly</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Interest Reset Dates:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Each interest payment date</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
</TR>
<TR align="left" valign="bottom">
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Interest Reset Period:</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>
<I><FONT size=2 face="serif">Quarterly</FONT></I>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD width=24% nowrap>&nbsp;

	</TD>
</TR>
</TABLE>
<P align="left">
<I><FONT size=2 face="serif">Terms not defined herein have the meanings given to such terms in the accompanying prospectus supplement and prospectus, as applicable.</FONT></I></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
	<TD align=left width=20%>&nbsp;

	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD align=center width=38%> <B><I><FONT face="serif">MORGAN STANLEY</FONT></I></B>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD align=left width=38%>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=20%>
<B><I><FONT size=2 face="serif">DZ BANK AG</FONT></I></B>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD align=left width=38%>
<B><I><FONT size=2 face="serif">UNICREDIT GROUP (HVB)</FONT></I></B>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD align=right width=38%>
<B><I><FONT size=2 face="serif">LANDESBANK BADEN-W&Uuml;RTTEMBERG</FONT></I></B>
	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=20%>
<B><I><FONT size=1 face="serif">HSH NORDBANK AG</FONT></I></B>
	</TD>
	<TD  width=2%>&nbsp;
	</TD>
	<TD align=left width=38%>
<B><I><FONT size=1 face="serif">RZB-AUSTRIA RAIFFEISEN ZENTRALBANK &Ouml;STERREICH AG</FONT></I></B>
	</TD>
	<TD align=left width=2%>&nbsp;</TD>
	<TD align=right width=38%>
<B><I><FONT size=1 face="serif">WESTLB AG</FONT></I></B>
	</TD>
</TR>
</TABLE>
<BR>

<br>
<br>
<hr size=3 color=GRAY noshade>
<p style="page-break-before:always"></p>
<PAGE>
<br>
<br>
<P align="left">
<B><I><FONT size=2 face="serif">Supplemental Information Concerning Plan of Distribution</FONT></I></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="serif">On November 22, 2006,
we agreed to sell to the managers listed in this pricing supplement, and they
severally agreed to purchase, the principal amounts of notes set forth opposite
their respective names below at a net price in the case of Morgan Stanley &amp; Co.
International Limited of 99.5438462%, in the case of DZ BANK AG Deutsche Zentral-Genossenschaftsbank,
Frankfurt am Main, Bayerische Hypo- und Vereinsbank AG and Landesbank Baden-W&#252;rttemberg
(the &#147;joint lead managers&#148;) of 99.4816667%, and, in the case of HSH
Nordbank AG, Raiffeisen Zentralbank Osterreich Aktiengesellschaft and WestLB
AG (the&#148;co-managers&#148;) of 99.515%, which net prices we refer to as the &#147;purchase
price&#148;. The purchase price equals the stated issue price of 99.815%, less
a combined management and underwriting commission of 0.2711538% of the principal
amount of the notes, in the case of Morgan Stanley &amp; Co. International Limited,
of 0.3333333% of the principal amount of the notes, in the case of the joint
lead managers, and of 0.30% of the principal amount of the notes in the case
of the co-managers.</FONT></I></P>
<TABLE border=0 width=80% cellspacing=0 cellpadding=0>
<TR valign="bottom">
	<TD align=left width=78% nowrap>&nbsp;	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD align=center width=20% nowrap>
<B><I><FONT size=2 face="serif">Principal Amount</FONT></I></B>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 <B><I><FONT size=2 face="serif">Name</FONT></I></B>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD align=center width=20% nowrap> <B><I><FONT size=2 face="serif">of Notes</FONT></I></B>	</TD>
</TR>
<TR>
	<TD width="78%"><HR align="left" width="20%" size=1 noshade>	</TD>
	<TD width="2%">	</TD>
	<TD width="20%">
<HR noshade size=1>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 &nbsp;<I><FONT size=2 face="serif">Morgan Stanley &amp; Co. International Limited</FONT></I>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD width=20% align=right><FONT size=2 face="serif">Euro 1,040,000,000</FONT> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 &nbsp;<I><FONT size=2 face="serif">DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main</FONT></I>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD width=20% align=right><FONT size=2 face="serif">300,000,000</FONT> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 &nbsp;<I><FONT size=2 face="serif">Bayerische Hypo- und Vereinsbank AG</FONT></I>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD width=20% align=right><FONT size=2 face="serif">300,000,000</FONT> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 &nbsp;<I><FONT size=2 face="serif">Landesbank Baden-W&#252;rttemberg</FONT></I>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD width=20% align=right><FONT size=2 face="serif">300,000,000</FONT> </TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 &nbsp;<I><FONT size=2 face="serif">HSH Nordbank AG</FONT></I>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD align=right width=20% nowrap>
<FONT size=2 face="serif">20,000,000</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 &nbsp;<I><FONT size=2 face="serif">Raiffeisen Zentralbank Osterreich Aktiengesellschaft</FONT></I>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD align=right width=20% nowrap>
<FONT size=2 face="serif">20,000,000</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 &nbsp;<I><FONT size=2 face="serif">WestLB AG</FONT></I>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD align=right width=20% nowrap>
<FONT size=2 face="serif">20,000,000</FONT>	</TD>
</TR>
<TR>
	<TD width="78%">	</TD>
	<TD width="2%">	</TD>
	<TD width="20%">
<HR noshade size=1>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left width=78% nowrap>
 &nbsp;<I><FONT size=2 face="serif">Total</FONT></I>	</TD>
	<TD  width=2%>&nbsp;	</TD>
	<TD align=right width=20% nowrap>
<FONT size=2 face="serif">Euro 2,000,000,000</FONT>	</TD>
</TR>
<TR>
	<TD width="78%">	</TD>
	<TD width="2%">	</TD>
	<TD width="20%">
<HR noshade size=2>	</TD>
</TR>
</TABLE>
<p><b><i><font size=2 face="serif">European Union Transparency Obligations Directive</font></i></b>
</p>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="serif">The proposed European Union Transparency Obligations Directive (the &#147;Directive&#148;) may be implemented in a manner which could be burdensome for companies such as us. In particular,
we may be required to prepare financial statements in accordance with accounting standards other than U.S. GAAP. We are under no obligation to maintain the listing of the notes, and prospective purchasers of notes should be aware that, in
circumstances where a listing of the notes by the UK Listing Authority would require preparation of financial statements in accordance with standards other than U.S. GAAP, or in any other circumstances where the Directive is implemented in a manner
that, in our opinion, is burdensome, the notes may be de-listed. In such a case of de-listing, we may, but are not obliged to, seek an alternative listing for the notes on a stock exchange outside the European Union. However, if such an alternative
listing is not available or is, in our opinion, burdensome, an alternative listing for the notes may not be considered. Although no assurance is made as to the liquidity of the notes as a result of listing by the UK Listing Authority, de-listing the
notes may have a material effect on a noteholder&#146;s ability to resell the notes in the secondary market.</FONT></I></P>

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