Securities Exchange Act of 1934 - Release No. 52399

September 8, 2005

An order has been issued granting the application of MS Structured Asset Corp. to withdraw its SATURNS Sears Roebuck Acceptance Corp. Debenture-Backed Series 2003-1 Callable Units, from listing and registration on the New York Stock Exchange, Inc., effective at the opening of business on September 9, 2005.