Morgan Stanley LTD Term Municipal Trust NCSR/A Certified annual shareholder report (management investment company) (amended)









                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-CSR

                   CERTIFIED SHAREHOLDER REPORT OF REGISTERED
                         MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-07700

Morgan Stanley Limited Term Municipal Trust
               (Exact name of registrant as specified in charter)

1221 Avenue of the Americas, New York, New York 10020
   (Address of principal executive offices)                    (Zip code)

Ronald E. Robison
1221 Avenue of the Americas, New York, New York 10020
                     (Name and address of agent for service)

Registrant's telephone number, including area code: 212-762-4000

Date of fiscal year end: March 31, 2004

Date of reporting period: September 30, 2003


Item 1 - Report to Shareholders

Welcome, Shareholder:

In this report, you'll learn about how your investment in Morgan Stanley Limited Term Municipal Trust performed during the semiannual period. We will provide an overview of the market conditions, and discuss some of the factors that affected performance during the reporting period. In addition, this report includes the Fund's financial statements and a list of Fund investments.

This material must be preceded or accompanied by a prospectus for the fund being offered. Market forecasts provided in this report may not necessarily come to pass. There is no assurance that the Fund will achieve its investment objective. The Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and, therefore, the value of the Fund shares may be less than what you paid for them. Accordingly you can lose money investing in this Fund.



	Fund Report
	For the six-months ended September 30, 2003

Total Return for the Six Months Ended September 30, 2003


Limited Term Municipal Trust	Lehman Brothers Municipal Bond Index (10-Year)¹			Lipper Intermediate Municipal Debt Funds Index²
2.43%		3.00	%		2.41	%

The Fund's total return figures assume the reinvestment of all distributions. Past performance is no guarantee of future results. See Performance Summary for standardized performance information.

Market Overview

The six months ended September 30, 2003 were a volatile time for the fixed-income markets. The U.S. economy struggled early in the period, but then showed signs of recovery. The bond market performed strongly for much of the spring, with yields falling steadily through the first half of June. At that point, however, signs of economic growth led investors to fear that interest rates were unsustainably low. Bond prices (which generally move in opposite direction of yields) fell sharply through the end of July when assets shifted from the debt markets. Then investors' reaction to improvement in the economy moderated in August and September and the fixed-income markets stabilized.

While municipal bonds rallied in the spring, several factors caused the sector to lag Treasuries. Municipalities issued a record amount of debt to take advantage of low financing and refinancing costs. Although this supply was readily absorbed by investors, it inhibited the rally. Changes to the corporate dividend tax also caused investors to reassess the attractiveness of tax-free municipal bonds.

The summer started out as one of the weakest periods for municipal bonds in the past 20 years. Bond prices plummeted as interest rates moved higher across the yield curve in July. However, the market improved by the end of September, recouping nearly half its losses. Although the pace of municipal new-issue volume slowed in the third quarter, annual underwriting volume remained on track to exceed $350 billion once again.

Performance Analysis

The Fund's performance during the period was aided by its defensive strategy, which has been in place since the end of 2002. The Fund's management maintained a shorter-than-benchmark duration (duration is a measure of a portfolio's sensitivity to interest rate changes) by retaining cash and hedging with U.S. Treasury futures. The hedge position significantly shortened the portfolio's duration from 6.7 to 5.3 years. We have maintained this defensive posture, based on the expectation that the stimulative monetary and fiscal policies that are in place should eventually accelerate economic growth and cause interest rates to rise.


LARGEST INDUSTRIES
Transportation	19.0	%
Water & Sewer	14.1
General Obligation	13.8
Electric	13.3
Public Facilities	11.6


CREDIT ANALYSIS
Aaa/AAA	74.5	%
Aa/AA	20.8
A/A	4.0
Baa/BBB	0.7

Subject to change daily. Largest industries' percentages are as a percentage of net assets and credit analysis is as a percentage of total long-term investments. Provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned. Morgan Stanley is a full-service firm engaged in securities trading and brokerage activities, investment banking, research and analysis, financing and financial advisory services.

Investment Strategy


	1.	The Fund invests primarily in intermediate-term, investment-grade municipal securities with an anticipated average dollar-weighted maturity range of 7 to 10 years with a maximum average dollar-weighted maturity of 12 years.


	2.	By including only investment-grade securities in its portfolio (rated Baa or BBB or better by Moody's or S&P or Fitch IBCA) the Fund offers the potential for attractive high current income without undue credit risk.



	Distribution by Maturity
	(% of Long-Term Portfolio)

Weighted Average Maturity: 10 Years*

Average maturity including net short-term obligation is 9 years.



	Performance Summary

Average Annual Total Returns—Period Ended September 30, 2003


	(since 07/12/93)
Symbol	DWLTX
1 Year		2.48%	^⁽³⁾
5 Years		4.83%	^⁽³⁾
10 Years		4.71%	^⁽³⁾
Since Inception		4.90%	^⁽³⁾

Past performance is not predictive of future returns. Investment return and principal value will fluctuate. When you sell fund shares, they may be worth less than their original cost. The table does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

(1)

The Lehman Brothers Municipal Bond Index (10-Year) measures the performance of municipal bonds rated at least Baa+ by Moody's Investors Service, Inc., and with maturities ranging between 8 and 12 years. Indexes are unmanaged and their returns do not include any sales charges or fees. Such costs would lower performance. It is not possible to invest directly in an index.

(2)

The Lipper Intermediate Municipal Debt Funds Index is an equally weighted performance index of the largest qualifying funds (based on net assets) in the Lipper Intermediate Municipal Debt Funds classification. The Index, which is adjusted for capital gains distributions and income dividends, is unmanaged and should not be considered an investment. There are currently 30 funds represented in this Index.

(3)

Figure shown assumes reinvestment of all distributions. There is no sales charge.

Morgan Stanley Limited Term Municipal Trust

Portfolio of Investments September 30, 2003 (unaudited)


PRINCIPAL AMOUNT IN THOUSANDS			COUPON RATE			MATURITY DATE		VALUE
		Tax-Exempt Municipal Bonds (93.0%)
		General Obligation (13.8%)
$	1,500	Maricopa County Community College District, Arizona, Refg Ser 2002		5.25	%		07/01/11	$	1,711,785
	2,000	Metropolitan Water District of Southern California, Refg Ser 2003		5.00			03/01/12		2,234,400
	1,000	San Diego Unified School District, California, 1998 Ser E (FSA)		5.25			07/01/15		1,125,860
	1,000	Pueblo School District No 60, Colorado, Ser 2002 (FSA)		5.375			12/15/14		1,132,150
	2,000	Sussex County, Delaware, Ser 2003 (Ambac)		5.00			10/15/11		2,244,560
		Community Unit School District 200, Illinois,
	1,600	Wheaton Warrenville Ser 2003 C (FSA) (WI)		5.25			10/01/14		1,797,232
	1,465	Wheaton Warrenville Ser 2003 C (FSA) (WI)		5.25			10/01/15		1,642,997
	2,000	Washington Suburban Sanitation District, Maryland, Sewage Disposal Refg 2003		5.00			06/01/12		2,242,420
	1,000	Massachusetts 2002 Refg Ser A (MBIA)		5.50			02/01/11		1,147,240
	1,000	Ser 2001 D (MBIA)		6.00			11/01/13		1,197,420
	1,000	New York City, New York, 2003 Ser C (FSA)		5.25			08/01/11		1,133,860
	1,000	Oklahoma, Refg 2003 Ser A (FGIC)		5.00			07/15/14		1,123,430
	2,000	Allegheny County, Pennsylvania, Refg Ser C-56 (FSA)		5.00			10/01/14		2,239,020
	1,000	Butler Country, Pennsylvania, Ser 2003 (FGIC)		5.25			07/15/15		1,127,170
	2,000	Spokane School District No 81, Washington, Ser 2003 (FSA)		5.25			12/01/13		2,264,220
	21,565								24,363,764
		Educational Facilities Revenue (8.8%)
	750	Private Colleges & Universities Authority, Georgia, Emory University 2002 Ser A		5.00			09/01/13		831,473
		Purdue University, Indiana,
	1,000	Student Facilities Ser 2003 A		5.375			07/01/14		1,129,910
	1,000	Student Fee Ser K		5.625			07/01/14		1,131,970
	2,000	University of Maine, Ser 2002 (FSA)		5.375			03/01/12		2,281,220
	500	University of North Carolina at Chapel Hill, Ser 2002 A		5.00			12/01/10		564,435
		Ohio State University,
	1,000	General Receipts Ser 2003 (FSA)		5.00			12/01/11		1,122,950
	2,000	General Receipts Ser 2003 B		5.25			06/01/16		2,229,300
	1,000	Pennsylvania State University, Refg Ser 2002		5.25			08/15/13		1,139,180
		Swarthmore Borough Authority, Pennsylvania,
	500	Swarthmore College Ser 2000		5.50			09/15/11		578,665
	1,000	Swarthmore College Ser 2002		5.25			09/15/14		1,120,500

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Portfolio of Investments September 30, 2003 (unaudited) continued


PRINCIPAL AMOUNT IN THOUSANDS			COUPON RATE			MATURITY DATE		VALUE
$	2,000	Texas Tech University, Refg & Impr Ser 2003 (Ambac)		5.25	%		02/15/15	$	2,243,840
	1,000	Southwest Higher Education Authority, Texas, Southern Methodist University Ser 2002 (Ambac)		5.50			10/01/13		1,141,280
	13,750								15,514,723
		Electric Revenue (13.3%)
	1,000	Arizona Power Authority, Hoover Uprating Refg Ser 2001 A		5.25			10/01/16		1,134,480
		California Department of Water Resources,
	1,000	Power Supply Ser 2002 A (MBIA)		5.50			05/01/13		1,136,270
	2,000	Power Supply Ser 2002 A (Ambac)		5.50			05/01/14		2,253,680
	2,000	Jacksonville Electric Authority, Florida, St Johns River Power Park Refg Issue 2 Ser 17		5.25			10/01/13		2,220,640
	1,000	Kissimmee Utility Authority, Florida, Electric Refg & Impr Ser 2003 (FSA)		5.25			10/01/12		1,139,530
	2,000	Municipal Electric Authority of Georgia, Combustion Turbine Ser 2002 A (MBIA)		5.25			11/01/14		2,232,400
	2,000	Michigan Public Power Agency, Belle River Refg 2002 Ser A (MBIA)		5.25			01/01/12		2,259,600
	2,000	Southern Minnesota Municipal Power Agency Ser 2002 A (Ambac)		5.00			01/01/12		2,226,960
	2,000	Nebraska Public Power District, 2003 Ser A (Ambac)		5.00			01/01/15		2,195,660
		Long Island Power Authority, New York,
	1,000	Ser 1998 B (MBIA)		5.125			04/01/11		1,099,490
	2,000	Ser 2003 B		5.25			06/01/13		2,186,820
	1,000	South Carolina Public Service Authority, Refg Ser 2002 D (FSA)		5.25			01/01/15		1,120,450
	1,000	Memphis, Tennessee, Jr Lien Refg Ser 2002		5.00			12/01/10		1,126,810
	1,000	Seattle, Washington, Municipal Light & Power Refg Ser 2001		5.625			12/01/14		1,108,240
	21,000								23,441,030
		Hospital Revenue (0.6%)
	1,000	Maryland Health & Higher Educational Facilities Authority,
		Medlantic/Helix Ser 1998 A (FSA)		5.25			08/15/12		1,106,580
		Industrial Development/Pollution Control Revenue (2.4%)
	1,000	California Pollution Control Financing Authority, San Diego Gas & Electric Co 1996 Ser A		5.90			06/01/14		1,056,850
	1,000	Massachusetts Industrial Finance Agency, Eastern Edison Co Refg Ser 1993		5.875			08/01/08		1,022,680
	2,000	Chesterfield County Industrial Development Authority, Virginia, Virginia Electric & Power Company Ser 1985		5.50			10/01/09		2,202,360
	4,000								4,281,890

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Portfolio of Investments September 30, 2003 (unaudited) continued


PRINCIPAL AMOUNT IN THOUSANDS			COUPON RATE			MATURITY DATE		VALUE
		Mortgage Revenue – Single Family (1.8%)
$	2,000	Maryland Department of Housing & Community Development, 1999 Third Ser (AMT)		4.40	%		04/01/07	$	2,126,680
	1,000	Virginia Housing Development Authority, 2001 Ser J (MBIA)		4.75			01/01/12		1,048,150
	3,000								3,174,830
		Public Facilities Revenue (11.6%)
	2,000	Arizona School Facilities Board, Ser 2003 A COPs (MBIA)		5.25			09/01/14		2,247,980
	1,000	Flagstaff Municipal Facilities Corporation, Arizona, Ser 2003 (Ambac) (WI)		5.00			07/01/16		1,091,860
	3,000	Manatee County School District, Florida, Sales Tax Ser 2003 (Ambac)		5.00			10/01/15		3,320,940
	2,000	Orange County School Board, Florida, Ser 2001 A COPs (Ambac)		5.25			08/01/14		2,246,200
	1,000	Kentucky Property & Buildings Commission, Project 69 Ser A (FSA)		5.25			08/01/15		1,105,990
	1,000	Michigan Building Authority, Police Communication Ser 2001		5.50			10/01/12		1,154,310
	2,000	Kansas City School District, Missouri, Elementary School Refg Ser 2003 B (FGIC) (WI)		5.00			02/01/14		2,217,920
	2,000	Missouri Board of Public Buildings, Ser A 2003		5.50			10/15/13		2,322,940
	3,000	Erie County Industrial Development Agency, New York, Buffalo School District Ser 2003 (FSA)		5.75			05/01/14		3,487,170
	1,000	Ohio Building Authority, Highway Safety Building 2001 Ser A		5.50			10/01/15		1,127,390
	18,000								20,322,700
		Recreational Facilities Revenue (1.5%)
	1,575	Detroit, Michigan, Cobo Hall Ser 2003 (MBIA) (WI)		5.00			09/30/13		1,755,306
	750	Metropolitan Pier & Exposition Authority, Illinois, Ser 2002 (FGIC)		5.375			06/01/12		853,313
	2,325								2,608,619
		Resource Recovery Revenue (3.2%)
	3,000	Northeast Maryland Waste Disposal Authority, Montgomery County Refg Ser 2003 (AMT) (Ambac)		5.50			04/01/12		3,367,140
	1,000	Massachusetts Development Finance Agency, SEMASS Ser 2001 A (MBIA)		5.625			01/01/12		1,141,110
	1,000	Montgomery County Industrial Development Authority, Pennsylvania, Refg 2002 Ser A (MBIA)		5.00			11/01/10		1,118,060
	5,000								5,626,310
		Tax Allocation Revenue (1.9%)
	3,000	Burbank Public Financing Authority, California, 2003 Ser A (Ambac)		5.25			12/01/14		3,385,530

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Portfolio of Investments September 30, 2003 (unaudited) continued


PRINCIPAL AMOUNT IN THOUSANDS			COUPON RATE			MATURITY DATE		VALUE
		Transportation Facilities Revenue (19.0%)
		Alaska International Airports,
$	500	Ser 2002 B (Ambac)		5.25	%		10/01/10	$	566,295
	1,000	Ser 2002 B (Ambac)		5.75			10/01/13		1,155,340
	1,000	Arizona Transportation Board, Ser 2003 A (GANs)		5.00			07/01/15		1,101,260
	1,000	Port of Oakland, California, Ser 2002 M (FGIC)		5.25			11/01/13		1,126,460
		Colorado Department of Transportation,
	2,000	Refg Ser 2002 B (MBIA)		5.00			06/15/11		2,240,480
	1,800	Ser 2003 A (Ambac)		5.25			12/15/16		2,022,282
	2,000	Miami-Dade County, Florida, Miami International Airport, Ser D (AMT) (MBIA)		5.00			10/01/12		2,175,500
	1,000	Georgia State Road & Tollway Authority, Ser 2001		5.25			03/01/10		1,138,540
	1,230	Southwestern Development Authority, Illinois, Tri-City Regional Port District Refg Ser 2003 A (AMT)		4.90			07/01/14		1,206,839
	2,000	Kentucky Turnpike Authority, Economic Development Road Refg Ser 2000 (FSA)		5.50			07/01/09		2,308,540
	2,000	Maryland Department of Transportation, Ser 2003		5.25			12/15/14		2,292,100
	1,000	Missouri Highways & Transportation Commission, Ser A 2000		5.625			02/01/15		1,130,860
	1,300	St Louis , Missouri, Lambert-St Louis International Airport Ser 2003 A (FSA)		5.25			07/01/12		1,453,530
	1,000	Clark County, Nevada, Jet Aviation Fuel Tax Ser 2003 C (AMT) (Ambac)		5.00			07/01/13		1,077,110
	1,750	New Hampshire, Turnpike Refg Ser 2003 (Ambac)		5.00			02/01/16		1,905,050
	2,000	Metropolitan Transportation Authority, New York, Transportation Refg Ser 2003 A (FGIC)		5.00			11/15/13		2,233,220
		New York State Thruway Authority, New York,
	1,000	Highway & Bridge Ser 2002 A (FSA)		5.25			04/01/12		1,131,120
	1,000	Highway & Bridge Ser C 2002 (MBIA)		5.50			04/01/12		1,149,400
	1,000	Triborough Bridge & Tunnel Authority, New York, Ser 2001 A		5.25			01/01/14		1,104,070
	2,000	Texas Turnpike Authority, Central Texas Second Tier Ser 2002 (BANs)		5.00			06/01/08		2,238,660
	1,500	Richmond Metropolitan Authority, Virginia, Ser 2002 (FGIC)		5.25			07/15/13		1,706,490
	900	Virginia Transportation Board, Federal Highway Reimbursement Ser 2002†		5.00			09/27/12		1,008,756
	29,980								33,471,902
		Water & Sewer Revenue (14.1%)
	1,000	Arizona Water Infrastructure Finance Authority, Water Quality Ser 2001 A		5.375			10/01/14		1,117,310

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Portfolio of Investments September 30, 2003 (unaudited) continued


PRINCIPAL AMOUNT IN THOUSANDS			COUPON RATE			MATURITY DATE			VALUE
$	2,000	California Department of Water Resources, Central Valley Ser Y (FGIC)		5.25	%		12/01/13		$	2,265,960
	1,000	Atlanta, Georgia, Water & Wastewater Ser 1999 A (FGIC)		5.50			11/01/11			1,154,690
	1,500	Clayton County Water Authority, Georgia, Refg Ser 2003		5.25			05/01/14			1,706,295
	1,000	Honolulu City & County, Hawaii, Wastewater Jr Ser 1998 (FGIC)		5.25			07/01/13			1,111,590
	3,000	Dupage Water Commission, Illinois, Refg Ser 2003 (Ambac) (WI)		5.25			05/01/15			3,362,010
	1,000	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Ser 2002 A (MBIA)		5.00			07/01/12			1,113,790
	1,200	Wichita, Kansas, Water and Sewer Ser 2003 (FGIC)		5.00			10/01/13			1,343,280
	1,400	Detroit, Michigan, Sewage Refg Ser 2003 A (FSA)		5.00			07/01/14			1,549,002
	1,000	Las Vegas Water District Nevada, Ser B (MBIA)		5.25			06/01/11			1,134,680
	1,000	North Hudson Sewer Authority, New Jersey, Ser 2002 A (FGIC)		5.00			08/01/12			1,117,220
	2,000	Passaic Valley Sewage Commission, New Jersey, Sewer Ser 2003 (FGIC)		5.00			12/01/14			2,222,180
	1,000	New York City Municipal Water Finance Authority, New York, 2003 Ser A		5.25			06/15/11			1,132,000
	1,000	Western Carolina Sewer Authority, South Carolinia, Ser 2001 (FSA)		5.375			03/01/16			1,109,830
	2,000	Dallas, Texas, Waterworks & Sewer Refg Ser 2002 A		5.00			10/01/10			2,250,020
	1,000	Fairfax County Water Authority, Virginia, Refg Ser 2002		5.50			04/01/14			1,138,110
	22,100									24,827,967
		Other Revenue (1.0%)
	1,500	Nassau County Interim Authority, New York, Sales Tax Ser 2003 A (Ambac)		5.00			11/15/15			1,647,405
	146,220	Total Tax-Exempt Municipal Bonds (Cost $157,968,033)								163,773,250
		Short Term Tax-Exempt Municipal Obligations (9.1%)
	4,400	Missouri Health & Educational Facilities Authority, Cox Health Ser 1997 (MBIA) (Demand 10/01/03)		1.15	*		06/01/15			4,400,000
	7,800	Geisinger Authority, Pennsylvania, Geisinger Health Ser 2000 (Demand 10/01/03)		1.20	*		08/01/28			7,800,000
	3,850	Washington Health Care Facilities Authority, Virginia Mason Medical Center Ser 1997 B (MBIA) (Demand 10/01/03)		1.16	*		02/15/27			3,850,000
	16,050	Total Short-Term Tax-Exempt Municipal Obligations (Cost $16,050,000)								16,050,000
$	162,270	Total Investments (Cost $174,018,033) (a) (b)					102.1	%		179,823,250
		Liabilities in Excess of Other Assets					(2.1)			(3,718,862	)
		Net Assets					100.0	%	$	176,104,388

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Portfolio of Investments September 30, 2003 (unaudited) continued

AMT

Alternative Minimum Tax.

BANs

Bond Anticipation Notes.

COPs

Certificates of Participation.

GANs

Grant Anticipation Notes.

Current coupon of variable rate demand obligation.

†

This security has been physically segregated in connection with open futures contracts.

Security purchased on a when-issued basis.

(a)

Securities have been designated as collateral in an amount equal to $59,995,455 in connection with open futures contracts and securities purchased on a when-issued basis.

(b)

The aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. The aggregate gross unrealized appreciation is $5,956,509 and the aggregate gross unrealized depreciation is $151,292, resulting in net unrealized appreciation of $5,805,217.

Bond Insurance:

Ambac

Ambac Assurance Corporation.

FGIC

Financial Guaranty Insurance Company.

FSA

Financial Security Assurance Inc.

MBIA

Municipal Bond Investors Assurance Corporation.

Futures Contracts Open at September 30, 2003:


NUMBER OF CONTRACTS	LONG/SHORT	DESCRIPTION, DELIVERY MONTH, AND YEAR	UNDERLYING FACE AMOUNT AT VALUE	UNREALIZED DEPRECIATION
200	Short	U.S. Treasury Notes 5 Yr December / 2003	$(22,693,750)	$ (844,674)
250	Short	U.S. Treasury Notes 10 Yr December / 2003	(28,656,250)	(1,079,336)
		Total unrealized depreciation		$(1,924,010)

Geographic Summary of Investments
Based on Market Value as a Percent of Net Assets


Alaska	1.0	%
Arizona	4.8
California	8.3
Colorado	3.1
Delaware	1.3
Florida	6.3
Georgia	4.0
Hawaii	0.6
Illinois	5.0
Indiana	1.9	%
Kansas	0.8
Kentucky	1.9
Maine	1.3
Maryland	6.3
Massachusetts	2.6
Michigan	3.8
Minnesota	1.3
Missouri	6.5
Nebraska	1.2	%
New Hampshire	1.1
New Jersey	1.9
New York	9.3
Nevada	1.3
North Carolina	0.3
Ohio	2.5
Oklahoma	0.6
Pennsylvania	8.6
South Carolina	1.3	%
Tennessee	0.6
Texas	4.5
Virginia	6.2
Washington	1.9
Total	102.1	%

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Financial Statements

Statement of Assets and Liabilities

September 30, 2003 (unaudited)


Assets:
Investments in securities, at value (cost $174,018,033)	$	179,823,250
Cash		1,142,476
Receivable for:
Interest		2,108,983
Shares of beneficial interest sold		1,093,450
Prepaid expenses		47,232
Total Assets		184,215,391
Liabilities:
Payable for:
Investments purchased		7,294,431
Variation margin		437,500
Shares of beneficial interest redeemed		176,657
Investment management fee		74,914
Dividends to shareholders		57,353
Accrued expenses		70,148
Total Liabilities		8,111,003
Net Assets	$	176,104,388
Composition of Net Assets:
Paid-in-capital	$	174,756,757
Net unrealized appreciation		3,881,207
Accumulated undistributed net investment income		1,736
Accumulated net realized loss		(2,535,312	)
Net Assets	$	176,104,388
Net Asset Value Per Share, 15,925,387 shares outstanding (unlimited shares authorized of $.01 par value)	$	11.06

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Financial Statements continued

Statement of Operations

For the six months ended September 30, 2003 (unaudited)


Net Investment Income:
Interest Income	$	2,925,499
Expenses
Investment management fee		404,202
Transfer agent fees and expenses		47,497
Registration fees		24,851
Professional fees		23,269
Shareholder reports and notices		20,793
Trustees' fees and expenses		9,528
Custodian fees		5,443
Other		8,731
Total Expenses		544,314
Less: expense offset		(5,364	)
Net Expenses		538,950
Net Investment Income		2,386,549
Net Realized and Unrealized Gain (Loss):
Net Realized Gain on:
Investments		611,700
Futures contracts		1,400,532
Net Realized Gain		2,012,232
Net Change in Unrealized Appreciation/Depreciation on:
Investments		1,373,924
Futures contracts		(2,094,718	)
Net Depreciation		(720,794	)
Net Gain		1,291,438
Net Increase	$	3,677,987

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Financial Statements continued

Statement of Changes in Net Assets


	FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2003			FOR THE YEAR ENDED MARCH 31, 2003
	(unaudited)
Increase (Decrease) in Net Assets:
Operations:
Net investment income	$	2,386,549		$	3,337,191
Net realized gain		2,012,232			532,891
Net change in unrealized appreciation/depreciation		(720,794	)		4,909,231
Net Increase		3,677,987			8,779,313
Dividends to shareholders from net investment income		(2,386,284	)		(3,359,809	)
Net increase from transactions in shares of beneficial interest		30,873,497			67,585,523
Net Increase		32,165,200			73,005,027
Net Assets:
Beginning of period		143,939,188			70,934,161
End of Period (Including accumulated undistributed net investment income of $1,736 and $1,471, respectively)	$	176,104,388		$	143,939,188

See Notes to Financial Statements

Morgan Stanley Limited Term Municipal Trust

Notes to Financial Statements September 30, 2003 (unaudited)

1. Organization and Accounting Policies

Morgan Stanley Limited Term Municipal Trust (the "Fund") is registered under the Investment Company Act of 1940, as amended, as a diversified, open-end management investment company. The Fund's investment objective is to provide a high level of current income which is exempt from federal income tax, consistent with the preservation of capital and prescribed standards of quality and maturity. The Fund seeks to achieve this objective by investing primarily in intermediate term, investment grade municipal securities. The Fund was organized as a Massachusetts business trust on February 25, 1993 and commenced operations on July 12, 1993.

The following is a summary of significant accounting policies:

A. Valuation of Investments — (1) portfolio securities are valued by an outside independent pricing service approved by the Trustees. The pricing service uses both a computerized grid matrix of tax-exempt securities and evaluations by its staff, in each case based on information concerning market transactions and quotations from dealers which reflect the bid side of the market each day. The portfolio securities are thus valued by reference to a combination of transactions and quotations for the same or other securities believed to be comparable in quality, coupon, maturity, type of issue, call provisions, trading characteristics and other features deemed to be relevant; (2) futures are valued at the latest sale price on the commodities exchange on which they trade unless it is determined that such price does not reflect their market value, in which case they will be valued at their fair value as determined in good faith under procedures established by and under the supervision of the Trustees; and (3) short-term debt securities having a maturity date of more than sixty days at time of purchase are valued on a mark-to-market basis until sixty days prior to maturity and thereafter at amortized cost based on their value on the 61st day. Short-term debt securities having a maturity date of sixty days or less at the time of purchase are valued at amortized cost.

B. Accounting for Investments — Security transactions are accounted for on the trade date (date the order to buy or sell is executed). Realized gains and losses on security transactions are determined by the identified cost method. Discounts are accreted and premiums are amortized over the life of the respective securities. Interest income is accrued daily.

C. Futures Contracts — A futures contract is an agreement between two parties to buy and sell financial instruments or contracts based on financial indices at a set price on a future date. Upon entering into such a contract, the Fund is required to pledge to the broker cash, U.S. Government securities or other liquid portfolio securities equal to the minimum initial margin requirements of the applicable futures exchange. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments known as variation margin are recorded by the Fund as unrealized gains and losses. Upon closing of the contract, the Fund realizes a gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Morgan Stanley Limited Term Municipal Trust

Notes to Financial Statements September 30, 2003 (unaudited) continued

D. Federal Income Tax Policy — It is the Fund's policy to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable and nontaxable income to its shareholders. Accordingly, no federal income tax provision is required.

E. Dividends and Distributions to Shareholders — Dividends and distributions to shareholders are recorded on the ex-dividend date.

F. Use of Estimates — The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates.

2. Investment Management Agreement

Pursuant to an Investment Management Agreement with Morgan Stanley Investment Advisors Inc. (the "Investment Manager"), the Fund pays the Investment Manager a management fee, accrued daily and payable monthly, by applying the annual rate of 0.50% to the Fund's net assets determined as of the close of each business day.

3. Security Transactions and Transactions with Affiliates

The cost of purchases and proceeds from sales of portfolio securities, excluding short-term investments, for the six months ended September 30, 2003 aggregated $57,958,980 and $19,395,644, respectively.

Morgan Stanley Trust, an affiliate of the Investment Manager, is the Fund's transfer agent.

The Fund has an unfunded noncontributory defined benefit pension plan covering all independent Trustees of the Fund who will have served as independent Trustees for at least five years at the time of retirement. Benefits under this plan are based on years of service and compensation during the last five years of service. Aggregate pension costs for the six months ended September 30, 2003 included in Trustees' fees and expenses in the Statement of Operations amounted to $2,763. At September 30, 2003, the Fund had an accrued pension liability of $45,021 which is included in accrued expenses in the Statement of Assets and Liabilities.

Morgan Stanley Limited Term Municipal Trust

Notes to Financial Statements September 30, 2003 (unaudited) continued

4. Shares of Beneficial Interest

Transactions in shares of beneficial interest were as follows:


	FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2003						FOR THE YEAR ENDED MARCH 31, 2003
	(unaudited)
	SHARES			AMOUNT			SHARES			AMOUNT
Sold		6,276,949		$	69,213,890			11,042,646		$	119,282,742
Reinvestment of dividends		150,071			1,650,174			217,881			2,357,992
		6,427,020			70,864,064			11,260,527			121,640,734
Redeemed		(3,636,979	)		(39,990,567	)		(5,008,912	)		(54,055,211	)
Net increase		2,790,041		$	30,873,497			6,251,615		$	67,585,523

5. Federal Income Tax Status

The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations which may differ from generally accepted accounting principles. These "book/tax" differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences do not require reclassification. Dividends and distributions which exceed net investment income and net realized capital gains for tax purposes are reported as distributions of paid-in-capital.

As of March 31, 2003, the Fund had a net capital loss carryforward of $4,168,090 of which $3,941,131 will expire on March 31, 2004 and $226,959 will expire on March 31, 2005 to offset future capital gains to the extent provided by regulations.

As of March 31, 2003, the Fund had temporary book/tax differences primarily attributable to post-October losses (capital losses incurred after October 31 within the taxable year which are deemed to arise on the first business day of the Fund's next taxable year), capital gain from the mark-to-market of futures contracts, a non-deductible expense and dividend payable.

6. Expense Offset

The expense offset represents a reduction of the custodian fees for earnings on cash balances maintained by the Fund.

7. Risks Relating to Certain Financial Instruments

The Fund may invest a portion of its assets in residual interest bonds, which are inverse floating rate municipal obligations. The prices of these securities are subject to greater market fluctuations during periods of changing prevailing interest rates than are comparable fixed rate obligations.

Morgan Stanley Limited Term Municipal Trust

Notes to Financial Statements September 30, 2003 (unaudited) continued

At September 30, 2003, the Fund did not hold positions in residual interest bonds.

To hedge against adverse interest rate changes, the Fund may invest in financial futures contracts or municipal bond index futures contracts ("futures contracts").

These futures contracts involve elements of market risk in excess of the amount reflected in the Statement of Assets and Liabilities. The Fund bears the risk of an unfavorable change in the value of the underlying securities.

At September 30, 2003, the Fund had outstanding futures contracts.

Morgan Stanley Limited Term Municipal Trust

Financial Highlights

Selected ratios and per share data for a share of beneficial interest outstanding throughout each period:


	FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2003			FOR THE YEAR ENDED MARCH 31,
	FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2003			2003			2002			2001			2000			1999
	(unaudited)
Selected Per Share Data:
Net asset value, beginning of period	$	10.96		$	10.30		$	10.37		$	9.96		$	10.34		$	10.26
Income (loss) from investment operations:
Net investment income		0.16			0.34			0.36			0.38			0.38			0.39
Net realized and unrealized gain (loss)		0.10			0.66			(0.07	)		0.41			(0.38	)		0.08
Total income from investment operations		0.26			1.00			0.29			0.79			0.00			0.47
Less dividends from net investment income		(0.16	)		(0.34	)		(0.36	)		(0.38	)		(0.38	)		(0.39	)
Net asset value, end of period	$	11.06		$	10.96		$	10.30		$	10.37		$	9.96		$	10.34
Total Return†		2.43	% ⁽¹⁾		9.81	%		2.82	%		8.14	%		0.08	%		4.68	%
Ratios to Average Net Assets:
Expenses		0.67	% ⁽²⁾⁽³⁾		0.70	% ⁽³⁾		0.82	% ⁽³⁾		0.88	% ⁽³⁾		0.91	%		0.86	% ⁽³⁾
Net investment income		2.95	% ⁽²⁾		3.08	%		3.45	%		3.78	%		3.81	%		3.75	%
Supplemental Data:
Net assets, end of period, in thousands		$176,104			$143,939			$70,934			$55,138			$44,237			$58,648
Portfolio turnover rate		13	% ⁽¹⁾		31	%		45	%		24	%		3	%		29	%

†

Calculated based on the net asset value as of the last business day of the period.

(1)

Not annualized.

(2)

Annualized.

(3)

Does not reflect the effect of expense offset of 0.01%.

See Notes to Financial Statements


Trustees Michael Bozic Charles A. Fiumefreddo Edwin J. Garn Wayne E. Hedien James F. Higgins Dr. Manuel H. Johnson Joseph J. Kearns Michael E. Nugent Philip J. Purcell Fergus Reid Officers Charles A. Fiumefreddo Chairman of the Board Mitchell M. Merin President Ronald E. Robison Executive Vice President and Principal Executive Officer Barry Fink Vice President and General Counsel Joseph J. McAlinden Vice President Stefanie V. Chang Vice President Francis J. Smith Treasurer and Chief Financial Officer Thomas F. Caloia Vice President Mary E. Mullin Secretary Transfer Agent Morgan Stanley Trust Harborside Financial Center, Plaza Two Jersey City, New Jersey 07311 Independent Auditors Deloitte & Touche LLP Two World Financial Center New York, New York 10281 Investment Manager Morgan Stanley Investment Advisors Inc. 1221 Avenue of the Americas New York, New York 10020 The financial statements included herein have been taken from the records of the Fund without examination by the independent auditors and accordingly they do not express an opinion thereon. This report is submitted for the general information of the shareholders of the Fund. For more detailed information about the Fund, its fees and expenses and other pertinent information, please read its Prospectus. The Fund's Statement of Additional Information contains additional information about the Fund, including its trustees. It is available, without charge, by calling (800) 869-NEWS. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective Prospectus. Read the Prospectus carefully before investing. Investments and services offered through Morgan Stanley DW Inc., member SIPC. Morgan Stanley Distributors Inc., member NASD. © 2003 Morgan Stanley 37993RPT-00-12806K03-0S-11/03		MORGAN STANLEY FUNDS
		Morgan Stanley Limited Term Municipal Trust Semiannual Report September 30, 2003




Item 2.  Code of Ethics.

Not applicable for semiannual reports.


Item 3.  Audit Committee Financial Expert.

Not applicable for semiannual reports.


Item 4. Principal Accountant Fees and Services

Not applicable for semiannual reports.


Item 5. Audit Committee of Listed Registrants.

Not applicable for semiannual reports.


Item 6. [Reserved.]


Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End
Management Investment Companies.

Not applicable for semiannual reports.


Item 8. [Reserved.]


Item 9 - Controls and Procedures

(a) The Fund's principal executive officer and principal financial officer have
concluded that the Fund's disclosure controls and procedures are sufficient to
ensure that information required to be disclosed by the Fund in this Form N-CSR
was recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commission's rules and forms, based
upon such officers' evaluation of these controls and procedures as of a date
within 90 days of the filing date of the report.

     There were no significant changes or corrective actions with regard to
significant deficiencies or material weaknesses in the Fund's internal controls
or in other factors that could significantly affect the Fund's internal controls
subsequent to the date of their evaluation.




(b) There were no changes in the registrant's internal control over financial
reporting that occurred during the registrant's most recent fiscal half-year
(the registrant's second fiscal half-year in the case of an annual report) that
has materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting.

Item 10 Exhibits
(a) Code of Ethics - Not applicable for semiannual reports.

(b) A separate certification for each principal executive officer and principal
financial officer of the registrant are attached hereto as part of EX-99.CERT.


                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

Morgan Stanley Limited Term Municipal Trust

/s/ Ronald E. Robison
Ronald E. Robison
Principal Executive Officer
November 19, 2003

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed by the following
persons on behalf of the registrant and in the capacities and on the dates
indicated.

/s/ Ronald E. Robison
Ronald E. Robison
Principal Executive Officer
November 19, 2003

/s/ Francis Smith
Francis Smith
Principal Financial Officer
November 19, 2003


                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

Morgan Stanley Limited Term Municipal Trust

/s/ Ronald E. Robison
Ronald E. Robison
Principal Executive Officer
December 8, 2003

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed by the following
persons on behalf of the registrant and in the capacities and on the dates
indicated.

/s/ Ronald E. Robison
Ronald E. Robison
Principal Executive Officer
December 8, 2003

/s/ Francis Smith
Francis Smith
Principal Financial Officer
December 8, 2003

                                       2


                                                                   EXHIBIT 10 B1

                  CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

                                 CERTIFICATIONS
                                 --------------

I, Ronald E. Robison, certify that:

1.   I have reviewed this report on Form N-CSR of Morgan Stanley Limited Term
     Municipal Trust;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the financial statements and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations, changes in net
     assets, and cash flows (if the financial statements are required to include
     a statement of cash flows) of the registrant as of, and for, the periods
     presented in this report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) for the
     registrant and have:

a)   designed such disclosure controls and procedures, or caused such disclosure
     controls and procedures to be designed under our supervision, to ensure
     that material information relating to the registrant, including its
     consolidated subsidiaries, is made known to us by others within those
     entities, particularly during the period in which this report is being
     prepared;

[b)  Omitted.]

c)   evaluated the effectiveness of the registrant's disclosure controls and
     procedures and presented in this report our conclusions about the
     effectiveness of the disclosure controls and procedures, as of a date
     within 90 days prior to the filing date of this report based on such
     evaluation; and

d)   disclosed in this report any change in the registrant's internal control
     over financial reporting that occurred during the registrant's most recent
     fiscal half-year (the registrant's second fiscal half-year in the case of
     an annual report) that has materially affected, or is reasonably likely to
     materially affect, the registrant's internal control over financial
     reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

a)   all significant deficiencies and material weaknesses in the design or
     operation of internal control over financial reporting which are reasonably
     likely to adversely affect the registrant's ability to record, process,
     summarize, and report financial information; and



                                       3


b)   any fraud, whether or not material, that involves management or other
     employees who have a significant role in the registrant's internal controls
     over financial reporting.

Date:  November 19, 2003

                                                  /s/ Ronald E. Robison
                                                  Ronald E. Robison
                                                  Principal Executive Officer















                                       4



                                                                   EXHIBIT 10 B2

                  CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

                                 CERTIFICATIONS
                                 --------------

I, Francis Smith, certify that:

6.   I have reviewed this report on Form N-CSR of Morgan Stanley Limited Term
     Municipal Trust;

7.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

8.   Based on my knowledge, the financial statements and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations, changes in net
     assets, and cash flows (if the financial statements are required to include
     a statement of cash flows) of the registrant as of, and for, the periods
     presented in this report;

9.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) for the
     registrant and have:

b)   designed such disclosure controls and procedures, or caused such disclosure
     controls and procedures to be designed under our supervision, to ensure
     that material information relating to the registrant, including its
     consolidated subsidiaries, is made known to us by others within those
     entities, particularly during the period in which this report is being
     prepared;

[b)  Omitted.]

e)   evaluated the effectiveness of the registrant's disclosure controls and
     procedures and presented in this report our conclusions about the
     effectiveness of the disclosure controls and procedures, as of a date
     within 90 days prior to the filing date of this report based on such
     evaluation; and

f)   disclosed in this report any change in the registrant's internal control
     over financial reporting that occurred during the registrant's most recent
     fiscal half-year (the registrant's second fiscal half-year in the case of
     an annual report) that has materially affected, or is reasonably likely to
     materially affect, the registrant's internal control over financial
     reporting; and

10.  The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

c)   all significant deficiencies and material weaknesses in the design or
     operation of internal control over financial reporting which are reasonably
     likely to adversely affect the registrant's ability to record, process,
     summarize, and report financial information; and



                                       5


d)   any fraud, whether or not material, that involves management or other
     employees who have a significant role in the registrant's internal controls
     over financial reporting.

Date:  November 19, 2003

                                                 /s/ Francis Smith
                                                 Francis Smith
                                                 Principal Financial Officer













                                       6



                                                                   EXHIBIT 10 B3

                  CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

                                 CERTIFICATIONS
                                 --------------

I, Ronald E. Robison, certify that:

1.   I have reviewed this report on Form N-CSR of Morgan Stanley Limited Term
     Municipal Trust;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the financial statements and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations, changes in net
     assets, and cash flows (if the financial statements are required to include
     a statement of cash flows) of the registrant as of, and for, the periods
     presented in this report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) for the
     registrant and have:

a)   designed such disclosure controls and procedures, or caused such disclosure
     controls and procedures to be designed under our supervision, to ensure
     that material information relating to the registrant, including its
     consolidated subsidiaries, is made known to us by others within those
     entities, particularly during the period in which this report is being
     prepared;

[b)  Omitted.]

c)   evaluated the effectiveness of the registrant's disclosure controls and
     procedures and presented in this report our conclusions about the
     effectiveness of the disclosure controls and procedures, as of a date
     within 90 days prior to the filing date of this report based on such
     evaluation; and

d)   disclosed in this report any change in the registrant's internal control
     over financial reporting that occurred during the registrant's most recent
     fiscal half-year (the registrant's second fiscal half-year in the case of
     an annual report) that has materially affected, or is reasonably likely to
     materially affect, the registrant's internal control over financial
     reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

a)   all significant deficiencies and material weaknesses in the design or
     operation of internal control over financial reporting which are reasonably
     likely to adversely affect the registrant's ability to record, process,
     summarize, and report financial information; and



                                       7


b)   any fraud, whether or not material, that involves management or other
     employees who have a significant role in the registrant's internal controls
     over financial reporting.

Date:  December 8, 2003

                                                  /s/ Ronald E. Robison
                                                  Ronald E. Robison
                                                  Principal Executive Officer















                                       8



                                                                   EXHIBIT 10 B4

                  CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

                                 CERTIFICATIONS
                                 --------------

I, Francis Smith, certify that:

6.   I have reviewed this report on Form N-CSR of Morgan Stanley Limited Term
     Municipal Trust;

7.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

8.   Based on my knowledge, the financial statements and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations, changes in net
     assets, and cash flows (if the financial statements are required to include
     a statement of cash flows) of the registrant as of, and for, the periods
     presented in this report;

9.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) for the
     registrant and have:

b)   designed such disclosure controls and procedures, or caused such disclosure
     controls and procedures to be designed under our supervision, to ensure
     that material information relating to the registrant, including its
     consolidated subsidiaries, is made known to us by others within those
     entities, particularly during the period in which this report is being
     prepared;

[b)  Omitted.]

e)   evaluated the effectiveness of the registrant's disclosure controls and
     procedures and presented in this report our conclusions about the
     effectiveness of the disclosure controls and procedures, as of a date
     within 90 days prior to the filing date of this report based on such
     evaluation; and

f)   disclosed in this report any change in the registrant's internal control
     over financial reporting that occurred during the registrant's most recent
     fiscal half-year (the registrant's second fiscal half-year in the case of
     an annual report) that has materially affected, or is reasonably likely to
     materially affect, the registrant's internal control over financial
     reporting; and

10.  The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

c)   all significant deficiencies and material weaknesses in the design or
     operation of internal control over financial reporting which are reasonably
     likely to adversely affect the registrant's ability to record, process,
     summarize, and report financial information; and



                                       9


d)   any fraud, whether or not material, that involves management or other
     employees who have a significant role in the registrant's internal controls
     over financial reporting.

Date:  December 8, 2003

                                                 /s/ Francis Smith
                                                 Francis Smith
                                                 Principal Financial Officer













                                       10



                            SECTION 906 CERTIFICATION

                Certification Pursuant to 18 U.S.C. Section 1350,
                             As Adopted Pursuant to
                  Section 906 of the Sarbanes-Oxley Act of 2002

Morgan Stanley Limited Term Municipal Trust

     In connection with the Report on Form N-CSR (the "Report") of the
above-named issuer for the period ended September 30, 2003 that is accompanied
by this certification, the undersigned hereby certifies that:

1.   The Report fully complies with the requirements of Section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

2.   The information contained in the Report fairly presents, in all material
     respects, the financial condition and results of operations of the Issuer.



Date: November 19, 2003                           /s/ Ronald E. Robison
                                                  ---------------------------
                                                  Ronald E. Robison
                                                  Principal Executive Officer


A signed original of this written statement required by Section 906 has been
provided to Morgan Stanley Limited Term Municipal Trust and will be retained by
Morgan Stanley Limited Term Municipal Trust and furnished to the Securities and
Exchange Commission or its staff upon request.








                                       11



                            SECTION 906 CERTIFICATION

                Certification Pursuant to 18 U.S.C. Section 1350,
                             As Adopted Pursuant to
                  Section 906 of the Sarbanes-Oxley Act of 2002

Morgan Stanley Limited Term Municipal Trust

     In connection with the Report on Form N-CSR (the "Report") of the
above-named issuer for the period ended September 30, 2003 that is accompanied
by this certification, the undersigned hereby certifies that:

1.   The Report fully complies with the requirements of Section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

2.   The information contained in the Report fairly presents, in all material
     respects, the financial condition and results of operations of the Issuer.



Date: November 19, 2003                         /s/ Francis Smith
                                                ----------------------
                                                Francis Smith
                                                Principal Financial Officer


A signed original of this written statement required by Section 906 has been
provided to Morgan Stanley Limited Term Municipal Trust and will be retained by
Morgan Stanley Limited Term Municipal Trust and furnished to the Securities and
Exchange Commission or its staff upon request.




                                       12





                            SECTION 906 CERTIFICATION

                Certification Pursuant to 18 U.S.C. Section 1350,
                             As Adopted Pursuant to
                  Section 906 of the Sarbanes-Oxley Act of 2002

Morgan Stanley Limited Term Municipal Trust

     In connection with the Report on Form N-CSR (the "Report") of the
above-named issuer for the period ended September 30, 2003 that is accompanied
by this certification, the undersigned hereby certifies that:

1.   The Report fully complies with the requirements of Section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

2.   The information contained in the Report fairly presents, in all material
     respects, the financial condition and results of operations of the Issuer.



Date: December 8, 2003                            /s/ Ronald E. Robison
                                                  ---------------------------
                                                  Ronald E. Robison
                                                  Principal Executive Officer


A signed original of this written statement required by Section 906 has been
provided to Morgan Stanley Limited Term Municipal Trust and will be retained by
Morgan Stanley Limited Term Municipal Trust and furnished to the Securities and
Exchange Commission or its staff upon request.








                                       13



                            SECTION 906 CERTIFICATION

                Certification Pursuant to 18 U.S.C. Section 1350,
                             As Adopted Pursuant to
                  Section 906 of the Sarbanes-Oxley Act of 2002

Morgan Stanley Limited Term Municipal Trust

     In connection with the Report on Form N-CSR (the "Report") of the
above-named issuer for the period ended September 30, 2003 that is accompanied
by this certification, the undersigned hereby certifies that:

1.   The Report fully complies with the requirements of Section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

2.   The information contained in the Report fairly presents, in all material
     respects, the financial condition and results of operations of the Issuer.



Date: December 8, 2003                          /s/ Francis Smith
                                                ----------------------
                                                Francis Smith
                                                Principal Financial Officer


A signed original of this written statement required by Section 906 has been
provided to Morgan Stanley Limited Term Municipal Trust and will be retained by
Morgan Stanley Limited Term Municipal Trust and furnished to the Securities and
Exchange Commission or its staff upon request.




                                       14

Morgan Stanley LTD Term Municipal Trust Inactive N-CSR/ACertified annual shareholder report (management investment company) (amended)