EX-99.77I NEW SECUR

SUB-ITEM 77I: TERMS OF NEW OR AMENDED SECURITIES
MORGAN STANLEY VALUE FUND

Redesignation of Class D Shares to Class I Shares
- -------------------------------------------------
Pursuant to Section 9.3 of the Registrant's Declaration of Trust, as amended
from time to time (the "Declaration"), the Trustees of the Registrant approved
the redesignation of Class D Shares to Class I Shares, effective as of March 31,
2008. The rights of the holders of such Shares have not been effected by this
redesignation.

EX-99.77Q1 OTHR EXHB

EXHIBIT 77QI
MORGAN STANLEY VALUE FUND


                                   CERTIFICATE

     The undersigned hereby certifies that she is the Secretary of Morgan
Stanley Value Fund (the "Trust"), an unincorporated business trust organized
under the laws of the Commonwealth of Massachusetts, that annexed hereto is an
Amendment to the Declaration of Trust duly adopted by the Trustees of the Trust
on March 26, 2008 as provided in Section 9.3 of the Declaration of Trust of the
Trust, said Amendment to take effect on March 31, 2008 and I do hereby further
certify that such Amendment has not been amended and is on the date hereof in
full force and effect.

     Dated this 26th day of March, 2008


                                        /s/ Mary E. Mullin
                                        ----------------------------------------
                                        Mary E. Mullin
                                        Secretary


                                    AMENDMENT

Dated:             March 26, 2008
To be Effective:   March 31, 2008

                                       TO

                            MORGAN STANLEY VALUE FUND

                              DECLARATION OF TRUST

                                      DATED

                                  June 9, 1998


                    AMENDMENT TO THE DECLARATION OF TRUST OF

                            MORGAN STANLEY VALUE FUND

WHEREAS, Morgan Stanley Value Fund (the "Trust") was established by the
Declaration of Trust dated June 9, 1998, as amended from time to time (the
"Declaration"), under the laws of the Commonwealth of Massachusetts;

WHEREAS, Section 9.3 of the Declaration provides that the Trustees may amend the
Declaration without the vote or consent of Shareholders to change the name of
the Trust or any Series or Classes of Shares;

WHEREAS, the Trustees of the Trust have deemed it advisable to redesignate the
Class D Shares of the Trust as the Class I Shares, such change to be effective
on March 31, 2008;

NOW, THEREFORE:

1. The Declaration is hereby amended to redesignate Class D Shares of the Trust
as "Class I Shares."

2. The Trustees of the Trust hereby reaffirm the Declaration, as amended, in all
respects.

3. This amendment may be executed in more than one counterpart, each of which
shall be deemed an original, but all of which together shall constitute one and
the same document.



IN WITNESS THEREOF, the undersigned, the Trustees of the Trust, have executed
this instrument this 26th day of March 2008.


/s/ Frank L. Bowman                                    /s/ Michael Bozic
- ----------------------------------------------------   -------------------------------------------------------
Frank L. Bowman, as Trustee, and not individually      Michael Bozic, as Trustee, and not individually
c/o Kramer Levin Naftalis & Frankel LLP                c/o Kramer Levin Naftalis & Frankel LLP
Counsel to the Independent Trustees                    Counsel to the Independent Trustees
1177 Avenue of the Americas                            1177 Avenue of the Americas
New York, NY 10036                                     New York, NY 10036


/s/ Kathleen A. Dennis                                 /s/ Dr. Manuel H. Johnson
- ----------------------------------------------------   -------------------------------------------------------
Kathleen A. Dennis, as Trustee, and not individually   Dr. Manuel H. Johnson, as Trustee, and not individually
c/o Kramer Levin Naftalis & Frankel LLP                c/o Johnson Smick Group, Inc.
Counsel to the Independent Trustees                    888 16th Street, N.W., Suite 740
1177 Avenue of the Americas                            Washington, D.C. 20006
New York, NY 10036


/s/ James F. Higgins                                   /s/ Joseph J. Kearns
- ----------------------------------------------------   -------------------------------------------------------
James F. Higgins, as Trustee, and not individually     Joseph J. Kearns, as Trustee, and not individually
c/o Morgan Stanley Trust                               c/o Kearns & Associates LLC
Harborside Financial Center, Plaza Two                 PMB754
Jersey City, NJ 07311                                  23852 Pacific Coast Highway
                                                       Malibu, CA 90265


/s/ Michael F. Klein                                   /s/ Michael E. Nugent
- ----------------------------------------------------   -------------------------------------------------------
Michael F. Klein, as Trustee, and not individually     Michael E. Nugent, as Trustee, and not individually
c/o Kramer Levin Naftalis & Frankel LLP                c/o Triumph Capital, L.P.
Counsel to the Independent Trustees                    445 Park Avenue
1177 Avenue of the Americas                            New York, NY 10022
New York, NY 10036


/s/ W. Allen Reed                                      /s/ Fergus Reid
- ----------------------------------------------------   -------------------------------------------------------
W. Allen Reed, as Trustee, and not individually        Fergus Reid, as Trustee, and not individually
c/o Kramer Levin Naftalis & Frankel LLP                c/o Lumelite Plastics Corporation
Counsel to the Independent Trustees                    85 Charles Colman Blvd.
1177 Avenue of the Americas                            Pawling, NY 12564
New York, NY 10036




STATE OF NEW YORK    )
                     )ss:
COUNTY OF NEW YORK   )

     On this 26th day of March 2008, FRANK L. BOWMAN, MICHAEL BOZIC, KATHLEEN A.
DENNIS, MANUEL H. JOHNSON, JAMES F. HIGGINS, JOSEPH J. KEARNS, MICHAEL F. KLEIN,
MICHAEL E. NUGENT, W. ALLEN REED AND FERGUS REID, known to me to be the
individuals described in and who executed the foregoing instrument, personally
appeared before me and they severally acknowledged the foregoing instrument to
be their free act and deed.


                                        /s/ Indira Alli
                                        ----------------------------------------
                                        Notary Public

My Commission expires: February 7, 2009