Entity Name

(Indentations indicate control)

Jurisdiction of
Incorporation
or Formation

Morgan Stanley

Arara LLC

Barra, Inc.

Barra International Ltd

BarraConsult Ltd.

Barra International (Australia) Pty Ltd

Investment Performance Objects Pty Ltd

Barra Japan Co., Ltd

Barra Ventures, Inc.

Barra Holdings Company Ltd

Barra POSIT, Inc.

Financial Engineering Associates, Inc.

Bayfine DE LLC

Bayview Holding Ltd.

Bayfine Cayman Ltd.

Bayfine DE Inc.

Bayfine UK

Belmondo LLC

Cauca LLC

Dean Witter Alliance Capital Corporation

Dean Witter Capital Corporation

DW Administrators Inc.

DW Window Coverings Holding, Inc.

Dean Witter Realty Inc.

Dean Witter Holding Corporation

Civic Center Leasing Corporation

Lewiston Leasing Corporation

Sartell Leasing Corporation

Dean Witter Leasing Corporation

Dean Witter Realty Credit Corporation

Dean Witter Realty Fourth Income Properties Inc.

Dean Witter Realty Growth Properties Inc.

Dean Witter Realty Income Properties I Inc.

Dean Witter Realty Income Properties II Inc.

Dean Witter Realty Income Properties III Inc.

Dean Witter Realty Yield Plus Inc.

Dean Witter Realty Yield Plus II Inc.

Realty Management Services Inc.

Dean Witter Reynolds Venture Equities Inc.

Dean Witter Venture Management Inc.

Dean Witter Venture Inc.

Demeter Management Corporation

Early Adopter Fund Manager Inc.

Fuegos LLC

FV-I, Inc.

Jolter Investments Inc.

Merope LLC

Electra Ltd

Maia Ltd

Morgan Rundle Inc.

MR Ventures Inc.

Morgan Stanley & Co. Incorporated

Graystone Wealth Management Services LLC

Graystone Wealth Management Services LP

Morgan Stanley Flexible Agreements Inc.

MS Securities Services Inc.

Prime Dealer Services Corp.

Morgan Stanley ABS Capital I Inc.

Morgan Stanley ABS Capital II Inc.

Entity Name

(Indentations indicate control)

Morgan Stanley Advisory Partnership Inc.

Morgan Stanley Amanu LLC

Makatea JV Inc.

Morgan Stanley Moorea Inc.

Morgan Stanley Pinaki Limited

Morgan Stanley Raraka Limited

Morgan Stanley Tepoto Limited

Morgan Stanley Asset Funding Inc.

Morgan Stanley Atlas, Inc.

Morgan Stanley Biscay LLC

Morgan Stanley Alpha Investments LLP

Morgan Stanley Epsilon Investments Limited

Morgan Stanley Plymouth Limited

Morgan Stanley Viking LLC

Morgan Stanley Fastnet LLC

Morgan Stanley Humber LLC

Fitzroy Partnership

Morgan Stanley Boscastle Holding Limited

Morgan Stanley Cornerways Cayman Limited

Morgan Stanley Monmouth UK

Morgan Stanley Stoneyside Cayman Limited

Morgan Stanley White Horse UK

Morgan Stanley Capital I Inc.

Morgan Stanley Capital Group Inc.

Morgan Stanley Energy Development Corp

MSDW Power Development Corp.

Dutchess Electric Facility, Inc.

MS Retail Development Corp.

Naniwa Energy LLC

Naniwa Terminal LLC

Northwest Electric Development Corporation

Northwest Electric Generating Corporation

Power Contract Finance, L.L.C.

South Eastern Electric Development Corporation

South Eastern Energy Corporation

South Eastern Generating Corporation

Morgan Stanley Capital International Inc. *

Morgan Stanley Capital International Australia Pty Limited

Morgan Stanley Capital International Limited

Morgan Stanley Capital International Services Private Limited

Morgan Stanley Capital International Singapore Pte Limited

Morgan Stanley Capital International S.A.

Morgan Stanley Capital Management, LLC

Morgan Stanley Domestic Capital, Inc.

Morgan Stanley Bank

NOVUS Credit Services Inc.

Bank of New Castle

Discover Bank

Discover Products Inc.

GTC Insurance Agency, Inc.

Discover Card Limited

Discover Financial Services (Canada), Inc.

Discover Financial Services, Inc.

Discover Financial Services Insurance Agency, Inc.

Discover Services Corporation

Morgan Stanley Dean Witter Credit Corporation

NOVUS Receivables Financing Inc.

Morgan Stanley Dean Witter Credit Corporation of Iowa

Morgan Stanley Dean Witter Credit Corporation of Minnesota

Morgan Stanley Dean Witter Credit Corporation of Pennsylvania

Entity Name

(Indentations indicate control)

Morgan Stanley Dean Witter Credit Corporation of Tennessee

NOVUS Financial Corporation of Washington

SCFC Receivables Corp.

Discover Receivables Financing Corporation

SPS Transaction Services, Inc.

Morgan Stanley Capital Partners III, Inc.

Morgan Stanley Capital Services Inc.

MS Avondale 1 B.V.

MS Avondale 2 B.V.

Morgan Stanley Capital Trust II

Morgan Stanley Capital Trust III

Morgan Stanley Capital Trust IV

Morgan Stanley Capital Trust V

Morgan Stanley Commercial Mortgage Capital, Inc.

Morgan Stanley Content Corporation

Morgan Stanley Credit Enhancing Inc.

Morgan Stanley Credit Servicing Inc.

Morgan Stanley Dean Witter Commercial Financial Services, Inc.

Morgan Stanley Dean Witter Equity Funding, Inc.

Morgan Stanley Dean Witter HK RAV IV, LLC

Morgan Stanley Dean Witter International Incorporated

Dean Witter International Ltd.

Dean Witter Capital Markets International Ltd. (U.K.)

Dean Witter Futures Limited

Dean Witter Reynolds Limited

Dean Witter Reynolds GmbH

Dean Witter Reynolds (Hong Kong) Limited

Dean Witter Reynolds International, Inc.

Dean Witter Reynolds (Geneva) S.A.

Riverview International Inc.

Dean Witter Reynolds (Lausanne) S.A.

Dean Witter Reynolds (Lugano) S.A.

Morgan Stanley Dean Witter Trust Company (Cayman) Ltd.

Morgan Stanley Dean Witter Nominees Limited

Tate Limited

Morgan Stanley Dean Witter Principal Funding, Inc.

Morgan Stanley (Hungary) Limited (aka Morgan Stanley (Magyaroszág) Kft )

SPV Columbus S.r.L.

Morgan Stanley Dean Witter Wealth Management, Inc.

Morgan Stanley Derivative Products Inc.

Morgan Stanley Distributors Inc.

Morgan Stanley Domestic Leasing Inc.

Morgan Stanley DW Inc.

Dean Witter Reynolds Insurance Agency (Massachusetts) Inc.

Dean Witter Reynolds Insurance Agency (Ohio) Inc.

Dean Witter Reynolds Insurance Agency (Oklahoma) Inc.

Dean Witter Reynolds Insurance Agency (Texas) Inc.

Dean Witter Reynolds Insurance Services (Alabama) Inc.

Dean Witter Reynolds Insurance Services (Arkansas) Inc.

Dean Witter Reynolds Insurance Services (Illinois) Inc.

Dean Witter Reynolds Insurance Services, Inc. (Puerto Rico)

Dean Witter Reynolds Insurance Services (Maine) Inc.

Dean Witter Reynolds Insurance Services (Montana) Inc.

Dean Witter Reynolds Insurance Services (New Hampshire) Inc.

Dean Witter Reynolds Insurance Services (South Dakota) Inc.

Dean Witter Reynolds Insurance Services (Wyoming) Inc.

Morgan Stanley Dean Witter Global Insurance Services Limited

Morgan Stanley Dean Witter Insurance Services (Arizona) Inc.

Morgan Stanley Dean Witter Insurance Services Inc.

Dean Witter Reynolds Insurance Agency (Indiana) Inc.

Entity Name

(Indentations indicate control)

FD Insurance Services of New Mexico, Inc.

Morgan Stanley Emerging Markets Inc.

Always Limited

Inter Capital Alliance Company Limited

MSGHYLADD

Philippine Asset Investment (SPV - AMC) Inc.

Morgan Stanley Equity Finance Limited

Morgan Stanley Finance (Jersey) Limited

Morgan Stanley Funding, Inc.

Morgan Stanley Funding Services Corporation

Morgan Stanley Fund Services Inc.

Morgan Stanley Fund Services USA LLC

Morgan Stanley Fund Services (Bermuda) Ltd.

Morgan Stanley Fund Services (Cayman) Ltd.

Morgan Stanley Futures and Currency Management Inc.

Morgan Stanley Gerson Limited

Morgan Stanley Global Emerging Markets, Inc.

Morgan Stanley International Holdings Inc.

Morgan Stanley Advantage Services Private Limited

Morgan Stanley AB

Morgan Stanley Asia Holdings I Inc.

Morgan Stanley Asia Holdings II Inc.

Morgan Stanley Asia Holdings III Inc.

Morgan Stanley Asia Holdings IV Inc.

Morgan Stanley Asia Holdings V Inc.

Morgan Stanley Asia Holdings VI Inc.

Morgan Stanley Asia Pacific (Holdings) Limited

Morgan Stanley Asia Regional (Holdings) III LLC

Morgan Stanley Dean Witter (Singapore) Holdings Pte Ltd

Morgan Stanley Asia (Singapore) Securities Pte Ltd

Morgan Stanley Dean Witter Asia (Singapore) Pte

Morgan Stanley Dean Witter Capital Group (Singapore) Pte

Morgan Stanley Investment Management Company

Morgan Stanley Dean Witter (Hong Kong) Holdings

Morgan Stanley Asia International Limited

Morgan Stanley Services Limited

MSDW Asia Securities Products LLC

Morgan Stanley Dean Witter Asia Limited

Morgan Stanley Dean Witter Futures (Hong Kong) Limited

Morgan Stanley Dean Witter Hong Kong Securities Limited

Morgan Stanley Dean Witter Pacific Limited

MSDW-JL Holdings I Limited

Morgan Stanley Bosphorus Limited

Morgan Stanley Canmore Limited

Morgan Stanley Caledonia Limited

Swilken Limited

Morgan Stanley Japan (Holdings) Ltd.

City Forum Capital Limited

Morgan Stanley Dean Witter Japan Group, Ltd.

MSDW-JL Holdings II Limited

Morgan Stanley Japan Limited

Morgan Stanley Products Limited

MS Capital Cayman Ltd.

MS Remora Ltd.

MSDW Birkdale Limited

MSDW Portrush Limited

MSDW (Holdings) III Limited

Morgan Stanley Credit Services Japan Limited

MSDW Muirfield Limited

MSDW Lytham Limited

Entity Name

(Indentations indicate control)

Jurisdiction of
Incorporation
or Formation

Morgan Stanley Asset & Investment Trust Management Co., Limited

Morgan Stanley Asset Management S.A.

Morgan Stanley B.V.

Morgan Stanley Bank AG

Morgan Stanley Canada Limited

Morgan Stanley Capital (Luxembourg) S.A.

Morgan Stanley Capital SA

Morgan Stanley Dean Witter Asia (China) Limited

Morgan Stanley Dean Witter Asia (Taiwan) Ltd.

Morgan Stanley Dean Witter Australia Finance Limited

Morgan Stanley (Australia) Real Estate Holdings Pty Limited

Morgan Stanley Arcadia International Real Estate Limited

Morgan Stanley Dean Witter Hong Kong Nominees Limited

Morgan Stanley Dean Witter Mauritius Company Limited

Morgan Stanley Asia Regional (Holdings) II LLC

Morgan Stanley India Securities Private Limited *

JM Morgan Stanley Securities Private Limited *

Morgan Stanley Investment Management Private Limited *

MSIM Global Support and Technology Services Private Limited

Morgan Stanley Dean Witter (Thailand) Limited

Morgan Stanley (España), S.A.

Morgan Stanley International Limited

Morgan Stanley Funding Limited

Morgan Stanley Funding II Limited

Morgan Stanley Group (Europe)

Bayfine UK Products

Delta AB 1 General Partner Limited

Morgan Stanley JY Holdings Limited

Morgan Stanley JY Limited

Morgan Stanley Bramley Limited

Morgan Stanley Capital Group Limited

Morgan Stanley Bank International Limited

Morgan Stanley Card Services Limited

Morgan Stanley Dean Witter Trustee Limited

Morgan Stanley (Europe) Limited

Morgan Stanley Finance plc

Morgan Stanley Caballa Limited

Morgan Stanley Gastoro Limited

Morgan Stanley Pintado Investments Limited

Woburn IV Cooperatieve UA

Woburn V Cooperatieve UA

MSDW Corporate Holdings Limited

MSDW Corporate Investments I Limited

MSDW Corporate Investments II Limited

Sunningdale Cooperatieve UA

Woburn Cooperatieve UA

Wentworth Cooperatieve U.A.

Morgan Stanley Investment Management Limited

Morgan Stanley Braeburn Limited

Morgan Stanley Courtland Limited

Morgan Stanley Investment Management (ACD) Limited

Morgan Stanley Property Management (UK) Limited

Morgan Stanley Services (UK) Limited

Morgan Stanley (Structured Products) Jersey Limited

Morgan Stanley UK Group

Morgan Stanley & Co. International Limited

Dean Witter Reynolds International S.A.

Morgan Stanley Dean Witter Strategic Investments Limited

Morgan Stanley Dover Investments Limited

Morgan Stanley Fisher Investments Limited

Entity Name

(Indentations indicate control)

Jurisdiction of
Incorporation or
Formation

Ashwood Cooperatieve U.A.

Morgan Stanley Equity Finance (Denmark) ApS

Morgan Stanley (France) SAS

Morgan Stanley International Nominees Limited

Morgan Stanley Lundy Investments Limited

Morgan Stanley Mandarin Limited

Morgan Stanley Harlequin Investments Limited

Metsys Cooperatieve U.A.

Morgan Stanley Pintail Investments Limited

Orangewood Cooperatieve U.A.

Saenredam Cooperatieve UA

Saldanha Cooperatieve U.A.

Morgan Stanley Silvermere Limited

Morgan Stanley Northcote Investments Limited

Morgan Stanley Norton Investments Limited

Bermont Co-operatieve U.A.

Borderwijk Cooperatieve U.A.

Shavano Cooperatieve UA

MSDW Turnberry Ltd.

MSDW Jubilee Investments Ltd.

Augusta Cooperatieve UA

MSDW Eden Investments Ltd.

MSDW Mallard Investments Limited

Carysforth Investments Limited

Haddington Investments Limited *

MSDW Montgomerie Limited

Wadway1 Cooperatieve U.A.

Wadway2 Cooperatieve U.A.

Morgan Stanley Humboldt Investments Limited

Morgan Stanley Malin Investments Limited

Morgan Stanley Portland Investments Limited

MSDW Raleigh Investments Limited

Drake Investments Limited *

Livingstone Investments Limited

MSDW Lyle Investments Limited

Woburn III Cooperatieve UA

Morgan Stanley Wertpapiere GmbH

Morgan Stanley Equities GmbH

Morgan Stanley Securities ACD Limited

Morgan Stanley & Co. Limited

Morgan Stanley Securities Limited

Morstan Nominees Limited

MSDW Equity (UK) Plc

Morgan Stanley UK Limited

Quilter Holdings Limited

Foster & Brathwaite Limited

Quilter & Co. Limited

CIPM Nominees Limited

Coastal Nominees Limited

Coastal Nominees (International) Limited

Commercial Trust Co. Limited

MS Quilter Limited

Hawkshead Trust Nominees Limited

Marcel Nominees Limited

Morgan Stanley Quilter (Ireland) Nominees Limited

Morgan Stanley Quilter Nominees Limited

QGCI Nominees Limited

QGCI Offshore Special Selection Nominee Company Limited

Quilpep Nominees Limited

Quilter Fund Management Limited

Entity Name

(Indentations indicate control)

Quilter Investments Limited

Quilter International Management Limited

MSDW Fixed Income Limited

Willow Capital Limited

MS Leasing UK Limited

Morgan Stanley Finance (C.I.) Limited

Morgan Stanley (Israel) Ltd.

Morgan Stanley (Jersey) II Limited

Morgan Stanley Latin America Incorporated

Banco Morgan Stanley Dean Witter S.A.

Morgan Stanley Dean Witter Administadora de Carteiras S.A.

Morgan Stanley Dean Witter Corretora de Títulos e Valores Mobiliários S.A.

Morgan Stanley Dean Witter do Brasil Ltda.

Morgan Stanley Financial Products Ltd.

Morgan Stanley Uruguay Ltda.

MSLA Advisors Incorporated

Morgan Stanley Middle East Inc.

Morgan Stanley Mortgage Servicing Ltd.

Morgan Stanley SGR (Società di Gestione del Risparmio) SpA

Morgan Stanley South Africa (Pty) Limited

Morgan Stanley, S.V., S. A.

AB Asesores Bursátiles Cordoba, S.A. *

AB Asesores Ceuta, S.L. *

Morgan Stanley Consulting, S.A.

Morgan Stanley Gestión Pensiones EGFP, S.A.

Morgan Stanley Gestión SGIIC, S.A.

Morgan Stanley Swiss Holdings GmbH

Bank Morgan Stanley AG

Fosbury Investments Cooperatieve U.A.

Morgan Stanley Trading Beteiligungs-GmbH

Morgan Stanley Trading GmbH & Co. KG

MSAM/Kokusai (Cayman Islands), Inc.

MSAM/Kokusai II (Cayman Islands), Inc.

MSDW Equity Financing Services (Luxembourg) S.à.r.l.

MSDW Finance (Netherlands) BV

MS Italy (Holdings) Inc.

MSL Incorporated

Morgan Stanley SPV I (Cayman Islands) LLC

Farlington Company

ITALSEC S.r.l.

Providence DE LLC

Providence Canada Co.

Providence Cayman Investments Limited *

Providence DE Investments Co.

Morgan Stanley International Incorporated

Fonciere 144-Saint-Denis

Morgan Stanley (Australia) Securities Holdings Pty Limited

Morgan Stanley Dean Witter Australia Securities Limited

Morgan Stanley (Australia) Holdings Pty Limited

Morgan Stanley Capital Holdings

Morgan Stanley Dean Witter Financial Holdings, LLC

Morgan Stanley Dean Witter Hong Kong Finance Limited

Morgan Stanley Dean Witter UK Capital Limited

Morgan Stanley Dean Witter Australia Limited

Morgan Stanley Dean Witter Australia Securities (Nominee) Pty Limited

Morgan Stanley SerCo Solutions Pty Limited

Morgan Stanley International Insurance Ltd.

MSIIL Captive Insurance, Inc.

Morgan Stanley Offshore Investment Company Ltd.

Morgan Stanley Select Investment Strategies Ltd.

Entity Name

(Indentations indicate control)

Morgan Stanley SPV II (Cayman Islands) LLC

MSDW Investment Holdings Limited

Cabot 2 Limited

MS Cabot Inc.

Morgan Stanley Cornwall Financiang UK Limited

MSDW Investment Holdings (US) Inc.

MSDW Investment Holdings (UK) Ltd.

Cabot 1 Limited

Cabot 33 Limited

Applied Risc Technologies Limited

Cornwall Investments UK Limited

Morgan Stanley Investment Holdings Jersey Limited

Hampshire Trading B.V.

Lancashire Trading B.V.

Norfolk Trading B.V.

Suffolk Trading B.V.

Wiltshire Trading B.V.

Yorkshire Trading B.V.

Cottenden Financing Unlimited

Cottenden Financing (UK) Unlimited

East Sussex Financiang Limited

Morgan Stanley Foreign Complex Trust

Morgan Stanley Investment Advisors Inc.

Morgan Stanley Services Company Inc.

Morgan Stanley Investment Management Inc.

MAS Capital Management Partners, LP

Morgan Stanley AIP Funding Inc.

Morgan Stanley Alternative Investments Inc.

Morgan Stanley AIP (Cayman) GP Ltd.

Morgan Stanley AIP GP LP

Morgan Stanley Alternative Investment Partners LP

Morgan Stanley Comprehensive Alternatives Fund I LP

Morgan Stanley Distribution, Inc.

Morgan Stanley Global Franchise Inc.

Morgan Stanley (Jersey) Limited

Morgan Stanley Kristinestad LLC

Morgan Stanley Leveraged Equity Fund II, Inc.

Morgan Stanley Dean Witter Private Equity Asia Limited

Morgan Stanley Leveraged Equity Holdings Inc.

Morgan Stanley Management Services, Inc.

Morgan Stanley Market Products Inc.

Morgan Stanley Mortgage Capital Inc.

Morgan Stanley Dean Witter Asset Capital Inc.

MS LIQ-I, Inc.

Morgan Stanley Municipal Funding Inc.

Morgan Stanley Municipal Management, Inc.

Morgan Stanley Overseas Finance Ltd.

Morgan Stanley Overseas Services (Jersey) Limited

Morgan Stanley Procurement Inc.

Morgan Stanley Real Estate Advisor, Inc.

MSREA Holdings, Inc.

MSREA Holdings, LLC

MSREA LL Holdings, LLC

Morgan Stanley Real Estate Investment Management Inc.

Morgan Stanley Real Estate Fund, Inc.

MSREF I, L.L.C.

MSREF I-CO, L.L.C.

Morgan Stanley Real Estate Investment Management II, Inc.

MSREF II-CO, L.L.C.

Morgan Stanley Realty Incorporated

Entity Name

(Indentations indicate control)

Jurisdiction of
Incorporation

or Formation

BH-MS Realty Inc.

BH-MS Leasing Inc.

BH-Sartell Inc.

Brooks Harvey & Co., Inc.

Dean Witter Global Realty Inc.

Japan Realty Finance Company

Japan Realty Finance Company II

Morgan Stanley Properties, Inc.

Morgan Stanley Properties Germany GmbH

Morgan Stanley Properties Corso Venezia S.r.l.

Morgan Stanley Properties France SAS

Morgan Stanley Properties Hong Kong Limited

Morgan Stanley Properties Korea Limited

MSK Management II, Ltd. *

MSP China Holdings Limited

Morgan Stanley Properties Advisory Corp. Limited

Morgan Stanley Properties (China) Co. Ltd.

MSDI Investment Services *

Morgan Stanley Properties Japan, K.K.

Lombard Servicing Inc.

Promena Retail Properties, K.K.

Morgan Stanley Realty of California Inc.

Morgan Stanley Realty of Illinois Inc.

MSDW Canary Wharf, L.L.C.

Tokyo Realty Investment Company

Tokyo Realty Investment Company II

Morgan Stanley Risk Holdings, Inc.

Morgan Stanley SECAP Funding, LLC

Morgan Stanley Securities, Inc.

MS Equity Products (Luxembourg) S.à.r.l

Morgan Stanley Securitization Funding Inc.

Morgan Stanley Senior Funding, Inc.

Morgan Stanley European Funding, Inc.

Morgan Stanley European Leveraged Products Inc.

Morgan Stanley Senior Funding (Nova Scotia) Co.

Morgan Stanley Services Inc.

Morgan Stanley Special Situations Group Inc.

Morgan Stanley Structured Products (Cayman) I Limited

Morgan Stanley Structured Products (Cayman) II Limited

Morgan Stanley Technical Services Inc.

Morgan Stanley Technical Services MB/VC Inc.

Morgan Stanley Tostao Limited

Morgan Stanley Tower, LLC

MS Financing Inc.

AWAS Aviation Holdings LLC

Alltransair Nevada, Inc.

Alsea LLC

Ancon Inc.

Anfal Inc.

Angar Nevada

Ansett Worldwide Aviation, U.S.A.

Ansett Worldwide Aviation Ireland Limited

Ansett Worldwide Aviation (Labuan) Inc.

Ansett Worldwide Aviation UK Limited

AWAS (Bermuda) Limited

AWAS (Singapore) Pte Ltd

Ansett Worldwide Aviation Limited

AWMS II

Fiban Limited

Anzam Limited

Entity Name

(Indentations indicate control)

Jurisdiction of
Incorporation
or Formation

Ansett Worldwide Aviation Sales Limited

AWMS III

Ansett Worldwide Aviation Netherlands B.V.

AWAS Aviation Finance

Aircraft SPC-5, Inc.

Greenfly (Ireland) Limited

MSA I

MSA II

MSA III

MSA V

MSA VII

AWAS Aviation Services, Inc.

AWAS (Australia) Pty Limited

AWAS (UK) Limited

AWMS I

AWMS (Delaware) Inc.

AWMS (Celtic) Limited

AWAS (Ireland) Limited

Eplane Research Limited

Calapooia Air Limited

Nordstress Limited

Nordstress (Singapore) Pte Limited

Siletz Air Limited

Ansett Finance (Europe) B.V.

Ansett Worldwide Aviation Equipment

Siuslaw Air Inc.

G.H.Y. Capital II B.V.

Morgan Stanley 750 Building Corp.

G.H.Y. Capital B.V.

Hybrid Capital Y.K.

Morgan Stanley CS Aviation Holdings, LLC

Morgan Stanley Delta LLC

Morgan Stanley Tokyo Properties Y.K.

MSDW LTCP, L.L.C.

MS Harrison LLC

Morgan Stanley Trust

Morgan Stanley Trust National Association

Morgan Stanley Venture Capital II, Inc.

Morgan Stanley Venture Capital III, Inc.

Morgan Stanley Venture Capital Inc.

Morstan Development Company, Inc.

Moranta, Inc.

Porstan Development Company, Inc.

MS 10020, Inc.

MSAM Holdings II, Inc.

Van Kampen Investments Inc.

Van Kampen Advisors Inc.

Van Kampen Asset Management

Van Kampen Exchange Corp.

Van Kampen Funds Inc.

Van Kampen Investor Services Inc.

MSBF Inc.

MS Capital Holdings Inc.

Morgan Stanley Capital (Delaware) L.L.C.

MSCP III Holdings, Inc.

Morgan Stanley Proprietary Trading Co. (Cayman) Limited

MSD Community Development Corporation

MSDW Carnoustie LLC

MSDW Gleneagles Limited

MSDW Capital Partners IV, Inc.

Entity Name

(Indentations indicate control)

MSDW Capital Trust I

MSDW Credit Products Inc.

Morgan Stanley Credit Products Ltd.

MSDW CPIV Holdings, Inc.

MSDW EFS Holdings Inc.

MSDW Emerging Equity, Inc.

MSDW Fixed Income Ventures Inc.

Morgan Stanley BrokerTec Holdings Inc.

MSDW BondBook Ventures Inc.

MSDW International Employee Services LLC

MSDW Markets Inc.

MSDW Nederlande B.V.

MSDW Oak, LLC

MSDW Birch (Cayman) Limited

Maple JV, LLC

Sycamore II, Inc.

Elder, LLC

Maple Finance, Inc.

MSDW Offshore Equity Services Inc.

Morgan Stanley Equity Financing Services Ireland Limited

Morgan Stanley Hedging Co. Ltd.

MSDW Equity Finance Services I (Cayman) Ltd.

MSDW Equity Investments Limited

MSDW Offshore Equity Services (Korea) Inc.

MSDW OIP Investors, Inc.

MSDW PE/VC Holdings, Inc.

MSDW-Pioneer GP, Inc.

MSDW-Pioneer LP, Inc

MSDW Private Equity, Inc.

MSDW Real Estate Special Situations II, Inc.

MSDW Real Estate Special Situations II-A Dutch Manager, B.V.

MSDW Real Estate Special Situations II-B Dutch Manager, B.V.

MSDW Real Estate Special Situations II-C Dutch Manager, B.V.

MSDW Strategic Ventures Inc.

MSDW Synfuels II, Inc.

MSDW Synfuels III, Inc.

MSDW Venture Partners IV, Inc.

MSDW VP IV Holdings, Inc.

MSEOF, Inc.

MSEOF Management LLC

MSEOF Manager SARL

MSEOF Finance S.a.r.l.

MSEOF Holding S.a.r.l.

Core One S.r.l.

MSGEM Holdings, Inc.

MS Holdings Incorporated

Morgan Stanley Hedge Fund Partners Cayman Ltd

MSIT Holdings, Inc.

SL Partners MD Side Fund, LLC

MS Kasko LLC

North European Funding LLC *

MS Lion LLC

Morgan Stanley Beta Investments Limited

Morgan Stanley Gamma Investments

MS Leopard Inc.

MS Lynx Ltd.

Puma JV LLC

MS Tiger Ltd.

Oncilla LLC*

MS Low Income Housing Corporation

Entity Name

(Indentations indicate control)

Trova I LLC

Trova II LLC

Trova III LLC

Trova IV LLC

Viento LLC

Viento II LLC

Viento III LLC

Viento IV LLC

Viento V LLC

Viento VI LLC

Viento VII LLC

Viento VIII LLC

Viento IX LLC

MS Real Estate Mezzanine Advisor, Inc.

MS Real Estate Special Situations Inc.

MS Real Estate Special Situations GP Inc.

MSREA Guaranty, Inc.

MSREF II, Inc.

MSREF II, L.L.C.

MSREF III, Inc.

MSREF IV, Inc.

MSREF IV Funding, Inc.

MSREF IV Funding Partner, Inc.

MSREF V, Inc.

MSREF V Funding, Inc.

MS Revel EFS LLC

D&A Limited

D&E Limited

D&S Limited

D&Z Limited

MS Structured Asset Corp.

MS Synfuels, Inc.

MS Technology Holdings, Inc.

MSUH Holdings I, Inc.

MSUH Holdings II, Inc.

MS SP Urban Horizons, Inc.

MS Urban Horizons, Inc.

MSVP 2002 Holdings, Inc.

MSVP 2002, Inc.

MSVP 2002 Fund, LLC

MSYS Holdings Inc.

Open Road Airways, Inc.

Pettingell LLC

PG Holdings, Inc.

PG Holdings III, Inc.

PG Investors II, Inc.

PG Investors III, Inc.

PG Investors IV, Inc.

Pierpont Power, Inc.

Providence DE Funding Co.

Providence DE Investments LLC

Providence International Limited

Providence Valley Limited

Providence DE Holdings Co.

Providence Cayman Holdings Limited

Reynolds Securities Inc.

Romley Computer Leasing Inc.

Shuksan LLC

Serratus LLC

Strategic Investments I, Inc.

Entity Name

(Indentations indicate control)

Jurisdiction of
Incorporation
or Formation

MSDW Equity Investments II Limited

NRG360 Limited

Stratgic Investments II, Inc.

Zephyr (Cayman) Limited