Filed pursuant to Rule 433

Registration Statement No. 333-131266

Relating to Pricing Supplement No. 133

dated October 26, 2006

GLOBAL MEDIUM-TERM NOTES, SERIES F

Senior Fixed Rate Notes

Pricing Sheet – October 26, 2006

Bear Market PLUS due May 1, 2008

Mandatorily Exchangeable for an Amount Payable in U.S. Dollars

Based Inversely on the Value of the Russell 2000^® Index

Original Issue Price (Par)	:	$1,000 per Bear Market PLUS
Leverage Factor	:	300%
Payment at Maturity	:	If the Final Index Value is less than the Initial Index Value, the lesser of (i) the Original Issue Price plus the Enhanced Downside Payment and (ii) the Maximum Payment at Maturity If the Final Index Value is greater than or equal to the Initial Index Value and less than or equal to 108% of the Initial Index Value, $1,000 per Bear Market PLUS. If the Final Index Value is greater than 108% of the Initial Index Value, the greater of (i) the Original Issue Price minus the Upside Reduction Amount and (ii) the Minimum Payment at Maturity.

Enhanced Downside Payment	:	300% x	Initial Index Value - Final Index Value Initial Index Value	x $1,000
Upside Reduction	:	Final Index Value - (108% x Initial Index Value) Initial Index Value		x $1,000

Maximum Payment at Maturity	:	$1,652.50 per Bear Market PLUS
Minimum Payment at Maturity	:	$0 per Bear Market PLUS
Aggregate Principal Amount	:	$8,500,000
Initial Index Value	:	770.50
Pricing Date	:	October 26, 2006
Original Issue Date (Settlement Date)	:	October 31, 2006
Index Valuation Date	:	April 28, 2008
Listing	:	None
CUSIP	:	61748A270
Agent	:	Morgan Stanley & Co. Incorporated
Agent’s Commissions	:	$1.50 per Bear Market PLUS

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about 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 issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-718-1649.

The “Russell 2000® Index” is a trademark of Frank Russell Company and has been licensed for use by Morgan Stanley. The Bear Market PLUS are not sponsored, endorsed, sold or promoted by Frank Russell Company and Frank Russell Company makes no representation regarding the advisability of investing in the Bear Market PLUS. “Performance Leveraged Upside Securities” and “PLUS” are our service marks.

Prospectus Supplement for PLUS dated February 21, 2006
Prospectus dated January 25, 2006