Subject: * MSC 2006-HQ10 * PRICING DETAILS (Revised Payment Date)

REVISED : First Payment Date: 12/14/06

** MSC 2006-HQ10 ** $1.49Bn Fixed Rate CMBS

Sole Lead Bookrunning Manager: Morgan Stanley Co-Managers: Merrill Lynch, RBS
Greenwich Capital Rating Agencies: Fitch, Moody's


Structure:
 CL    CUSIP       SIZE($MM)  FTCH/MDYS   A/L   PX LEV  COUPON   PRICE    YIELD
 A1    61750HAA4     41.8     AAA/Aaa     2.99  S+7     5.1310  100.2484  5.0349
 A2    61750HAC0     88.1     AAA/Aaa     4.53  S+19    5.2830  100.5480  5.1619
 A3    61750HAD8     62.9     AAA/Aaa     7.33  S+23    5.3170  100.5496  5.2561
 A4    61750HAE6    610.2     AAA/Aaa     9.73  S+22    5.3280  100.5515  5.2916
 A4FL               150.0     AAA/Aaa             ***  NOT OFFERED  ***
 AMFL               149.1     AAA/Aaa             ***  NOT OFFERED  ***
 AJ    61750HAG1    119.3     AAA/Aaa     9.93  S+28    5.3890  100.5455  5.3557
 B     61750HAH9     31.7     AA/Aa2      9.93  S+34    5.4480  100.5443  5.4156
 C     61750HAJ5     16.8     AA-/Aa3     9.93  S+37    5.4780  100.5475  5.4456
 D     61750HAK2     22.4     A/A2        9.93  S+44    5.5470  100.5474  5.5157
*E     61750HAN6     16.8     A-/A3       9.93  S+50    5.6060  100.5464  5.5757
*F     61750HAP1     18.6     BBB+/Baa1   9.93  S+70    5.8030  100.5439  5.7756
*G     61750HAQ9     18.6     BBB/Baa2    9.93  S+80    5.8243  100.5437  5.8756
*H     61750HAR7     13.0     BBB-/Baa3   9.93  S+95    5.8903   99.9358  6.0256
*X1    61750HAL0  1,491.0**   AAA/Aaa           T+110   0.0471    1.7203  5.6450
*X2    61750HAM8  1,458.4**   AAA/Aaa           T+70    0.5034    2.5442  5.2150
A1A                  90.7     AAA/Aaa             ***  NOT OFFERED  ***

*  Subject to rule 144A
** Notional Balance


DETAILS:
 - The Coupon for Classes G, H, X1 and X2 are Initial Only
 - Settlement:  11/09/06
 - First Payment Date: 12/14/06

                                       1


 - Rated Final Distribution Date:  November 2041


STATEMENT REGARDING FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this free writing prospectus relates. Before
you invest, you should read the prospectus in the registration statement and
other documents the depositor has filed with the SEC for more complete
information about the depositor, the issuer and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the depositor, any underwriter or any dealer participating in the
offering will arrange to send you the prospectus you request it by calling toll
free 1-866-718-1649.

This free writing prospectus does not contain all information that is required
to be included in the base prospectus and the prospectus supplement.

The Information in this free writing prospectus is preliminary and is subject to
completion or change.

The Information in this free writing prospectus supersedes information contained
in any prior similar free writing prospectus relating to these securities prior
to the time of your commitment to purchase.

This free writing prospectus is not an offer to sell or solicitation of an offer
to buy these securities in any state where such offer, solicitation or sale is
not permitted.


IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of, or
attached to, this communication relating to:

(1) these materials not constituting an offer (or a solicitation of an offer),

(2) no representation that these materials are accurate or complete and may not
be updated, or

(3) these materials possibly being confidential,

are not applicable to these materials and should be disregarded. Such legends,
disclaimers or other notices have been automatically generated as a result of
these materials having been sent via Bloomberg or another system.


This is not an offer (or solicitation of an offer) to buy/sell the
securities/instruments mentioned or an official confirmation. Morgan Stanley may
deal as principal in or own or act as market maker for securities/instruments
mentioned or may advise the issuers. This is not research and is not from MS
Research but it may refer to a research analyst/research report. Unless
indicated, these views are the author's and may differ from those of Morgan
Stanley research or others in the Firm. We do not represent this is accurate or
complete and we may not update this. Past performance is not indicative of
future returns. For additional information, research reports and important
disclosures, contact me or see https://secure.ms.com/servlet/cls. You should not
use e-mail to request, authorize or effect the purchase or sale of any security
or instrument, to send transfer instructions, or to effect any other
transactions. We cannot guarantee that any such requests received via e-mail
will be processed in a timely manner. This communication is solely for the
addressee(s) and may contain confidential information. We do not waive
confidentiality by mistransmission. Contact me if you do not wish to receive
these communications. In the UK, this communication is directed in the UK to
those persons who are market counterparties or intermediate customers (as
defined in the UK Financial Services Authority's rules).

                                       2