MORGAN STANLEY

SPECTRUM SERIES

October 2007

Monthly Report

This Monthly Report supplements the Spectrum Funds' Prospectus
dated November 9, 2007.

Issued: November 30, 2007

Morgan Stanley

MORGAN STANLEY SPECTRUM SERIES
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HISTORICAL FUND PERFORMANCE
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Presented below is the percentage change in Net Asset Value per Unit from the
start of every calendar year each Fund has traded. Also provided is the
inception-to-date return and the compound annualized return since inception for
each Fund. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

INCEPTION- COMPOUND

TO-DATE ANNUALIZED

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 RETURN RETURN
FUND % % % % % % % % % % % % % % % % % % %
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Spectrum
Currency... -- -- -- -- -- -- -- -- -- 11.7 11.1 12.2 12.4 (8.0) (18.3) (3.4) (7.6) 5.1 0.7

(6 MOS.) (10 mos.)
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Spectrum
Global
Balanced... -- -- -- (1.7) 22.8 (3.6) 18.2 16.4 0.8 0.9 (0.3) (10.1) 6.2 (5.6) 4.2 2.4 2.6 60.0 3.7

(2 mos.) (10 mos.)
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Spectrum
Select..... 31.2 (14.4) 41.6 (5.1) 23.6 5.3 6.2 14.2 (7.6) 7.1 1.7 15.4 9.6 (4.7) (5.0) 5.9 8.6 215.6 7.3

(5 mos.) (10 mos.)
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Spectrum
Strategic.. -- -- -- 0.1 10.5 (3.5) 0.4 7.8 37.2 (33.1) (0.6) 9.4 24.0 1.7 (2.6) 20.9 4.8 79.7 4.6

(2 mos.) (10 mos.)
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Spectrum
Technical.. -- -- -- (2.2) 17.6 18.3 7.5 10.2 (7.5) 7.8 (7.2) 23.3 23.0 4.4 (5.4) 5.4 (10.5) 111.0 5.9

(2 mos.) (10 mos.)
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DEMETER MANAGEMENT CORPORATION
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522 Fifth Avenue, 13th Floor
New York, NY 10036
Telephone (212) 296-1999
MORGAN STANLEY SPECTRUM SERIES
MONTHLY REPORT
OCTOBER 2007

Dear Limited Partner:

The Net Asset Value per Unit for each of the five Morgan Stanley Spectrum
Funds as of October 31, 2007 was as follows:

FUND N.A.V. % CHANGE FOR MONTH
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Spectrum Currency $10.51 6.48%
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Spectrum Global Balanced $16.00 1.33%
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Spectrum Select $31.56 6.74%
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Spectrum Strategic $17.97 0.60%
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Spectrum Technical $21.10 5.34%
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Detailed performance information for each Fund is located in the body of the
financial report. (Note: all returns are net of all fees). For each Fund, we
provide a trading results by sector chart that portrays trading gains and
trading losses for the previous month and year-to-date in each sector in which
the Fund participates. In the case of Spectrum Currency, we provide the trading
gains and trading losses for the five major currencies in which the Fund
participates, and composite information for all other "minor" currencies traded
within the Fund.

The trading results by sector charts indicate the monthly and year-to-date
composite percentage returns generated by the specific assets dedicated to
trading within each market sector in which each Fund participates. Please note
that there is not an equal amount of assets in each market sector, and the
specific allocations of assets by a Fund to each sector will vary over time
within a predetermined range. Below each chart is a description of the factors
that influenced trading gains and trading losses within each Fund during the
previous month.

DEMETER MANAGEMENT CORPORATION ("DEMETER"), THE GENERAL PARTNER OF EACH OF
THE FUNDS, WILL ADD NEW TRADING ADVISOR(S) TO EACH OF THE FUNDS EFFECTIVE
DECEMBER 1, 2007.

SPECTRUM CURRENCY. DEMETER ENTERED INTO A MANAGEMENT AGREEMENT WITH EACH OF
C-VIEW INTERNATIONAL LIMITED ("C-VIEW"), DKR FUSION MANAGEMENT L.P. ("DKR"), AND
FX CONCEPTS TRADING ADVISOR, INC. ("FX CONCEPTS"), PURSUANT TO WHICH EACH WILL
SERVE AS A TRADING ADVISOR FOR SPECTRUM CURRENCY. EACH TRADING ADVISOR WILL BE
PAID A MONTHLY MANAGEMENT FEE AT A 2% ANNUAL RATE (BASED ON NET ASSETS) AND A
MONTHLY INCENTIVE FEE EQUAL TO 20% OF ANY TRADING PROFITS. EACH TRADING ADVISOR
WILL TRADE ITS ALLOCATED PORTION OF SPECTRUM CURRENCY'S NET ASSETS PURSUANT TO
THE FOLLOWING TRADING PROGRAMS: C-VIEW'S LIMITED MANAGED ACCOUNT 3X PROGRAM AT
2X LEVERAGE, DKR'S STRATEGIC CURRENCY PROGRAM, AND FX CONCEPTS' GLOBAL CURRENCY
PROGRAM. EFFECTIVE DECEMBER 1, 2007, THE ESTIMATED PERCENTAGE OF NET ASSETS
ALLOCATED TO EACH TRADING ADVISOR OF SPECTRUM CURRENCY WILL BE AS FOLLOWS: JOHN
W. HENRY & COMPANY, INC. (20%) ("JWH"); SUNRISE CAPITAL PARTNERS, LLC (20%);
C-VIEW (20%); DKR (20%); AND FX CONCEPTS (20%).

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DEMETER MANAGEMENT CORPORATION
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SPECTRUM GLOBAL BALANCED. DEMETER ENTERED INTO A MANAGEMENT AGREEMENT WITH
EACH OF ALTIS PARTNERS (JERSEY) LIMITED ("ALTIS"), CORNERSTONE QUANTITATIVE
INVESTMENT GROUP, INC. ("CORNERSTONE"), AND C-VIEW, PURSUANT TO WHICH EACH WILL
SERVE AS A TRADING ADVISOR FOR SPECTRUM GLOBAL BALANCED. THE TRADING ADVISORS
WILL BE PAID A MONTHLY MANAGEMENT FEE AT THE FOLLOWING RATES (BASED ON NET
ASSETS): A 1.75% ANNUAL RATE TO ALTIS; A 1% ANNUAL RATE TO CORNERSTONE; AND A 2%
ANNUAL RATE TO C-VIEW. EACH TRADING ADVISOR WILL BE PAID A MONTHLY INCENTIVE FEE
EQUAL TO 20% OF ANY TRADING PROFITS. EACH TRADING ADVISOR WILL TRADE ITS
ALLOCATED PORTION OF SPECTRUM GLOBAL BALANCED'S NET ASSETS PURSUANT TO THE
FOLLOWING TRADING PROGRAMS: ALTIS' GLOBAL FUTURES PORTFOLIO, CORNERSTONE'S
INTERNATIONAL VALUE PROGRAM, AND C-VIEW'S LIMITED MANAGED ACCOUNT 3X PROGRAM AT
2X LEVERAGE. EFFECTIVE DECEMBER 1, 2007, THE ESTIMATED PERCENTAGE OF NET ASSETS
ALLOCATED TO EACH TRADING ADVISOR OF SPECTRUM GLOBAL BALANCED WILL BE AS
FOLLOWS: SSARIS ADVISORS, LLC (25%); ALTIS (25%); CORNERSTONE (25%); AND C-VIEW
(25%).

SPECTRUM SELECT. DEMETER ENTERED INTO A MANAGEMENT AGREEMENT WITH ALTIS TO
SERVE AS A TRADING ADVISOR FOR SPECTRUM SELECT. ALTIS WILL BE PAID A MONTHLY
MANAGEMENT FEE AT A 1.75% ANNUAL RATE (BASED ON NET ASSETS) AND A MONTHLY
INCENTIVE FEE EQUAL TO 20% OF ANY TRADING PROFITS. ALTIS WILL TRADE ITS
ALLOCATED PORTION OF SPECTRUM SELECT'S NET ASSETS PURSUANT TO ITS GLOBAL FUTURES
PORTFOLIO TRADING PROGRAM. EFFECTIVE DECEMBER 1, 2007, THE ESTIMATED PERCENTAGE
OF NET ASSETS ALLOCATED TO EACH TRADING ADVISOR OF SPECTRUM SELECT WILL BE AS
FOLLOWS: EMC CAPITAL MANAGEMENT, INC. (12.5%); NORTHFIELD TRADING L.P. (7.5%);
RABAR MARKET RESEARCH, INC. (20%); SUNRISE CAPITAL MANAGEMENT, INC. (20%);
GRAHAM CAPITAL MANAGEMENT, INC. (20%); AND ALTIS (20%).

SPECTRUM STRATEGIC. DEMETER ENTERED INTO A MANAGEMENT AGREEMENT WITH
CORNERSTONE TO SERVE AS A TRADING ADVISOR FOR SPECTRUM STRATEGIC. CORNERSTONE
WILL BE PAID A MONTHLY MANAGEMENT FEE AT A 1% ANNUAL RATE (BASED ON NET ASSETS)
AND A MONTHLY INCENTIVE FEE EQUAL TO 20% OF ANY TRADING PROFITS. CORNERSTONE
WILL TRADE ITS ALLOCATED PORTION OF SPECTRUM STRATEGIC'S NET ASSETS PURSUANT TO
ITS INTERNATIONAL VALUE PROGRAM. EFFECTIVE DECEMBER 1, 2007, THE ESTIMATED
PERCENTAGE OF NET ASSETS ALLOCATED TO EACH TRADING ADVISOR OF SPECTRUM STRATEGIC
WILL BE AS FOLLOWS: BLENHEIM CAPITAL MANAGEMENT, L.L.C. (40%); ECLIPSE CAPITAL
MANAGEMENT LIMITED (20%); FX CONCEPTS (20%); AND CORNERSTONE (20%).

SPECTRUM TECHNICAL. DEMETER ENTERED INTO A MANAGEMENT AGREEMENT WITH EACH OF
ASPECT CAPITAL LIMITED ("ASPECT") AND ROTELLA CAPITAL MANAGEMENT, INC.
("ROTELLA"), PURSUANT TO WHICH EACH WILL SERVE AS A TRADING ADVISOR FOR SPECTRUM
TECHNICAL. EACH TRADING ADVISOR WILL BE PAID A MONTHLY MANAGEMENT FEE AT A 2%
ANNUAL RATE (BASED ON NET ASSETS) AND A MONTHLY INCENTIVE FEE EQUAL TO 20% OF
ANY TRADING PROFITS. EACH TRADING ADVISOR WILL TRADE ITS ALLOCATED PORTION OF
SPECTRUM TECHNICAL'S NET ASSETS PURSUANT TO THE FOLLOWING TRADING PROGRAMS:
ASPECT'S DIVERSIFIED PROGRAM AND ROTELLA'S STANDARD LEVERAGE PROGRAM. EFFECTIVE
DECEMBER 1, 2007, THE ESTIMATED PERCENTAGE OF NET ASSETS ALLOCATED TO EACH
TRADING ADVISOR OF SPECTRUM TECHNICAL WILL BE AS FOLLOWS: CAMPBELL & COMPANY,
INC. (25%) ("CAMPBELL"); CHESAPEAKE CAPITAL CORPORATION (15%) ("CHESAPEAKE");
JWH (5%); WINTON CAPITAL MANAGEMENT LIMITED (25%); ASPECT (10%); AND ROTELLA
(20%).

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DEMETER MANAGEMENT CORPORATION
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THE PERCENTAGE OF NET ASSETS ALLOCATED TO EACH TRADING ADVISOR OF EACH FUND
AS OF DECEMBER 1, 2007, AS SET FORTH ABOVE, SUPPLEMENTS THE TABLE UNDER "USE OF
PROCEEDS" ON PAGE 30 OF THE PROSPECTUS.

LIMITED PARTNERS OF EACH FUND ARE REMINDED THAT YOU HAVE THE RIGHT TO REDEEM
YOUR UNITS ON A MONTHLY BASIS, AND THAT LIMITED PARTNERS OWNING MORE THAN 50% OF
THE OUTSTANDING UNITS OF EACH FUND MAY VOTE TO TAKE CERTAIN ACTIONS WITH RESPECT
TO SUCH FUND, AS MORE FULLY SET FORTH IN SECTION 15(C) OF THE LIMITED
PARTNERSHIP AGREEMENT ON PAGE A-21 OF THE PROSPECTUS.

AS PREVIOUSLY MENTIONED, EFFECTIVE AUGUST 16, 2007, CHESAPEAKE, IN
CONSULTATION WITH DEMETER, AGREED TO TEMPORARILY REDUCE THE OVERALL LEVERAGE OF
SPECTRUM TECHNICAL'S ASSETS TRADED PURSUANT TO CHESAPEAKE'S DIVERSIFIED 2XL
PROGRAM (THE "PROGRAM") BY 50%. THIS REDUCTION IN LEVERAGE WAS IN RESPONSE TO
THE EXTREME MARKET EVENTS WITNESSED IN JULY AND AUGUST AND THE ADVERSE
PERFORMANCE EXPERIENCED BY CHESAPEAKE DURING THE LATTER PART OF JULY AND FIRST
HALF OF AUGUST 2007. SUBSEQUENTLY, EFFECTIVE OCTOBER 1, 2007, CHESAPEAKE, IN
CONSULTATION WITH DEMETER, DETERMINED THAT IT WAS APPROPRIATE TO INCREASE THE
OVERALL LEVERAGE OF SPECTRUM TECHNICAL'S ASSETS TRADED PURSUANT TO THE PROGRAM
TO 62.5%. CHESAPEAKE WILL CONTINUE ON AN ONGOING BASIS TO REVIEW THE LEVERAGE
LEVEL OF SPECTRUM TECHNICAL'S NET ASSETS TRADED PURSUANT TO THE PROGRAM AND IN
THE FUTURE, IN FURTHER CONSULTATION WITH DEMETER, WILL DETERMINE IF, AND AT WHAT
TIME, THE LEVERAGE MAY BE FURTHER READJUSTED. SUCH INCREASES/DECREASES IN
LEVERAGE LEVELS WILL OCCUR WITHOUT NOTICE TO INVESTORS.

IN ADDITION TO THE REDUCTION IN LEVERAGE, EFFECTIVE SEPTEMBER 1, 2007,
CHESAPEAKE HAS AGREED TO TEMPORARILY WAIVE THE MANAGEMENT FEE IT RECEIVES FROM
SPECTRUM TECHNICAL. THE WAIVER OF THE MANAGEMENT FEE WILL REMAIN IN EFFECT
THROUGH DECEMBER 31, 2007. PRIOR TO OR UPON SUCH DATE, DEMETER AND CHESAPEAKE
WILL DETERMINE WHETHER OR NOT THE WAIVER OF CHESAPEAKE'S MANAGEMENT FEE WILL BE
EXTENDED TO A FUTURE DATE.

EFFECTIVE APRIL 1, 2007, MARK H. MITCHELL CEASED TO BE ASSOCIATED IN ANY
CAPACITY WITH JWH, TRADING ADVISOR TO SPECTRUM CURRENCY AND SPECTRUM TECHNICAL,
UPON EXPIRATION OF HIS TEN YEAR EMPLOYMENT AGREEMENT WITH JWH ON MARCH 31, 2007.
MR. MITCHELL HAD FORMERLY SERVED AS VICE CHAIRMAN OF JWH AND AS COUNSEL TO THE
FIRM.

EFFECTIVE APRIL 3, 2007, CAMPBELL, TRADING ADVISOR TO SPECTRUM TECHNICAL,
ANNOUNCED THE APPOINTMENT OF MS. THERESA BECKS TO THE POSITION OF PRESIDENT &
CHIEF EXECUTIVE OFFICER, SUCCEEDING MR. BRUCE CLELAND, WHO WILL BECOME VICE
CHAIRMAN.

THERESA BECKS HAS BEEN WITH CAMPBELL AS ITS CHIEF FINANCIAL OFFICER FOR 16
YEARS, AND A MEMBER OF CAMPBELL'S BOARD OF DIRECTORS FOR 13 YEARS. MS. BECKS IS
ALSO A FORMER MEMBER OF THE BOARD OF DIRECTORS OF THE MANAGED FUNDS ASSOCIATION.
PRIOR TO JOINING CAMPBELL, SHE WAS VICE PRESIDENT & CHIEF FINANCIAL OFFICER OF
BANK MARYLAND CORP, A PUBLICLY HELD COMPANY. MS. BECKS STARTED HER PROFESSIONAL
CAREER WITH ERNST & YOUNG AS A CERTIFIED PUBLIC ACCOUNTANT.

BRUCE CLELAND, WHO HAS BEEN WITH CAMPBELL SINCE 1993, HAVING SERVED AS
PRESIDENT SINCE 1994, AND CHIEF EXECUTIVE OFFICER SINCE 1997, WILL BECOME VICE
CHAIRMAN OF THE FIRM AND ACT IN AN ADVISORY CAPACITY TO THE EXECUTIVE COMMITTEE.

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DEMETER MANAGEMENT CORPORATION
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KEVIN M. HEERDT, DIRECTOR OF RESEARCH & CHIEF OPERATING OFFICER, WILL
CONTINUE TO FOCUS HIS EFFORTS ON CAMPBELL'S RESEARCH AND TRADING ACTIVITIES. MR.
HEERDT JOINED CAMPBELL IN 2003 AS CO-HEAD OF RESEARCH, AND WAS APPOINTED CHIEF
OPERATING OFFICER IN 2005 AND HEAD OF RESEARCH IN JANUARY 2007. PRIOR TO JOINING
CAMPBELL, MR. HEERDT SPENT 12 YEARS WITH MOORE CAPITAL WHERE HE ACTED IN SEVERAL
CAPACITIES INCLUDING MANAGING DIRECTOR AND CHIEF INVESTMENTS OFFICER.

Should you have any questions concerning this report, please feel free to
contact Demeter Management Corporation, 522 Fifth Avenue, 13th Floor, New York,
NY 10036, or your Morgan Stanley Financial Advisor.

I hereby affirm, that to the best of my knowledge and belief, the information
contained in this report is accurate and complete. Past performance is no
guarantee of future results.

Sincerely,

/s/ Walter J. Davis

Walter J. Davis
Chairman of the Board of Directors and President
Demeter Management Corporation,
General Partner of
Morgan Stanley Spectrum Currency L.P.
Morgan Stanley Spectrum Global Balanced L.P.
Morgan Stanley Spectrum Select L.P.
Morgan Stanley Spectrum Strategic L.P.
Morgan Stanley Spectrum Technical L.P.

[This page intentionally left blank]

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MORGAN STANLEY SPECTRUM CURRENCY L.P.
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MONTH ENDED YTD ENDED
OCTOBER 31, 2007 OCTOBER 31, 2007

Australian dollar 1.41 1.25
British pound 0.11 -1.25
Euro 1.52 3.78
Japanese yen -0.58 -0.19
Swiss franc -0.1 -1.87
Minor Currencies 4.4 -5.88

Note: Reflects trading results only and does not include fees or interest
income.

Minor currencies may include, but are not limited to, the South
African rand, Thai baht, Singapore dollar, Mexican peso, New Zealand
dollar, Polish zloty, Brazilian real, Norwegian krone, Swedish
krona, Czech koruna, and Chilean peso.

During the month, the Fund experienced gains from long positions in the euro,
South African rand, Australian dollar, Singapore dollar, Chilean peso, Brazilian
real, Czech koruna, Polish zloty, and British pound versus the U.S. dollar.
These gains were partially offset by losses from short positions in the Japanese
yen and Swiss franc versus the U.S. dollar.

Gains were recorded from long positions in several currencies against the U.S.
dollar, including the euro, South African rand, Australian dollar, Singapore
dollar, Chilean peso, Brazilian real, Czech koruna, Polish zloty, and British
pound as the value of the U.S. dollar moved lower relative to its major rivals
leading up to and after the U.S. Federal Reserve's decision to lower its
benchmark interest rate by 25 basis points to 4.5%. Additionally, the value of
the South African rand and Australian dollar increased in the wake of
consistently rising commodity prices. Elsewhere, the value of the Brazilian real
strengthened against the U.S dollar on expectations that foreign investors may
continue to purchase Brazilian assets as South America's largest economy
expands.

Losses were incurred from short positions in the Japanese yen versus the U.S.
dollar during the middle of the month as the value of the Japanese yen reversed
higher against most of its major rivals after concerns about deteriorating
credit markets prompted investors to sell higher-yielding assets, thereby
reducing carry-trade positions. Elsewhere, short positions in the Swiss franc
versus the U.S. dollar resulted in losses during the second half of the month as
the value of the U.S. dollar weakened against the Swiss franc due to the
aforementioned reasons regarding U.S. interest rate policy.

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MORGAN STANLEY SPECTRUM GLOBAL BALANCED L.P.
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MONTH ENDED YTD ENDED
OCTOBER 31, 2007 OCTOBER 31, 2007

Currencies 0.5 0.64
Interest Rates -0.9 2.59
Stock Indices 1.02 -1.94
Energies 0.26 0.99
Metals -0.09 1.06
Agriculturals 0.63 -0.62

Note: Reflects trading results only and does not include fees or interest
income.

During the month, the Fund experienced gains in the global stock index,
agricultural, currency, and energy sectors. A portion of these gains was offset
by losses recorded in the global interest rate and metals sectors.

Within the global stock index sector, long positions in European, Australian,
and U.S. equity index futures experienced gains as prices increased amid
optimism that the U.S. economy may have weathered the August financial market
turmoil after U.S. job growth exceeded economic forecasts. Furthermore, prices
moved higher after minutes from the U.S. Federal Reserve's previous meeting
alleviated concerns that the U.S. economy would head for an outright recession.

Within the agricultural markets, short positions in lean hog futures recorded
gains as prices declined on speculation of growing supplies. Short positions in
live cattle futures resulted in additional gains as prices moved lower amid
technically-based selling. Elsewhere, long positions in coffee futures
experienced gains during the beginning of the month due to speculative buying.

Within the currency sector, long positions in the South African rand, euro, and
Mexican peso versus the U.S. dollar, as well as outright short positions in the
U.S. Dollar Index, resulted in gains as the value of the U.S. dollar weakened
against these currencies leading up to and after the U.S. Federal Reserve's
decision to lower its benchmark interest rate by 25 basis points to 4.5%.
Additionally, the value of the South African rand increased in the wake of
consistently rising commodity prices, while the value of the Mexican peso rose
against the U.S. dollar after the Bank of Mexico increased its benchmark lending
rate to 7.5% unexpectedly.

Within the energy markets, long futures positions in gasoline and crude oil
experienced gains as prices trended higher during the beginning of the month on
news of a drop in U.S. stockpiles and fears that Turkish forces may be preparing
to attack rebel camps in northern Iraq, thereby restricting oil shipments.
Prices continued to increase throughout the month amid rising tensions over
Iran's nuclear program, continued weakness in the U.S. dollar, and statements
from senior OPEC officials indicating that production will not be increased to
pull prices lower.

Within the global interest rate sector, long positions in European and U.S.
fixed-income futures incurred losses during the beginning of the month as prices
moved lower amid a rise in global equity markets, encouraging investors to shift
funds away from the "safe haven" of government debt. Smaller losses were
recorded in the metals markets from long positions in zinc futures as prices
decreased amid rising stockpiles and fears of weaker global demand.

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MORGAN STANLEY SPECTRUM SELECT L.P.
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MONTH ENDED YTD ENDED
OCTOBER 31, 2007 OCTOBER 31, 2007

Currencies 2.63 7.39
Interest Rates -0.06 3.8
Stock Indices 0.08 -1.18
Energies 4.63 4.5
Metals 0.59 -1.41
Agriculturals -0.69 -0.16

Note: Reflects trading results only and does not include fees or interest
income.

During the month, the Fund experienced gains in the energy, currency, metals,
and global stock index sectors. These gains were partially offset by losses
recorded in the agricultural and global interest rate sectors.

Within the energy markets, long positions in crude oil futures and its related
products resulted in gains as prices trended higher during the beginning of the
month on news of a drop in U.S. stockpiles and fears that Turkish forces may be
preparing to attack rebel camps in northern Iraq, thereby restricting oil
shipments. Prices continued to increase throughout the month, reaching an
all-time high amid rising tensions over Iran's nuclear program, continued
weakness in the U.S. dollar, and statements from senior OPEC officials
indicating that production will not be increased to pull prices lower.

Within the currency sector, long positions in the euro, Canadian dollar, British
pound, South African rand, Mexican peso, and Brazilian real versus the U.S.
dollar experienced gains as the value of the U.S. dollar moved lower relative to
its major rivals leading up to and after the U.S. Federal Reserve's decision to
lower its benchmark interest rate by 25 basis points to 4.5%. Additionally, the
value of the Canadian dollar and South African rand increased in the wake of
consistently rising commodity prices. Elsewhere, the value of the Mexican peso
rose against the U.S. dollar after the Bank of Mexico increased its benchmark
lending rate to 7.5% unexpectedly.

Within the metals markets, long positions in gold and silver futures recorded
gains as prices moved higher due to persistent weakness in the value of the U.S.
dollar and continued uncertainty regarding the future direction of the global
economy. As a result, gold prices rose above $800 an ounce for the first time
since 1980.

Smaller gains were recorded in the global stock index sector from long positions
in Nasdaq 100 Index futures and Hang Seng Index futures as prices moved higher
amid strength in the technology sector.

Within the agricultural markets, long positions in wheat futures incurred losses
as prices reversed lower amid news of an overabundance of supply and speculative
selling. Elsewhere, long positions in coffee futures resulted in losses as
prices decreased after heavy rains in Brazil's main growing regions reduced
concerns that crops may be damaged by a two-month drought. Lastly, long
positions in corn futures recorded losses during the beginning of the month as
prices moved lower after supplies from an expected record U.S. harvest
overwhelmed storage facilities throughout the Midwest.

Within the global interest rate sector, losses were experienced from long
positions in U.S. fixed-income futures during the beginning of the month as
prices moved lower amid a rise in global equity markets, encouraging investors
to shift funds away from the "safe haven" of government debt.

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MORGAN STANLEY SPECTRUM STRATEGIC L.P.
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MONTH ENDED YTD ENDED
OCTOBER 31, 2007 OCTOBER 31, 2007

Currencies 0.06 1.76
Interest Rates 0.1 0.25
Stock Indices 0.74 3.03
Energies 1.09 1.12
Metals -0.47 -1.53
Agriculturals -0.34 4.05

Note: Reflects trading results only and does not include fees or interest
income.

During the month, the Fund experienced gains in the energy, global stock index,
global interest rate, and currency sectors. These gains were partially offset by
losses recorded in the metals and agricultural sectors.

Within the energy markets, long futures positions in gasoline and heating oil
experienced gains as prices trended higher during the beginning of the month on
news of a drop in U.S. stockpiles and fears that Turkish forces may be preparing
to attack rebel camps in northern Iraq, thereby restricting oil shipments.
Prices continued to increase throughout the month amid rising tensions over
Iran's nuclear program, continued weakness in the U.S. dollar, and statements
from senior OPEC officials indicating that production will not be increased to
pull prices lower.

Within the global stock index sector, gains were recorded from long positions in
Hang Seng Index and Nasdaq 100 Index futures as prices moved higher amid
strength in the technology sector.

Within the global interest rate sector, long positions in U.S. fixed-income
futures experienced gains towards the end of the month as prices reversed higher
after government reports revealed that housing starts in the U.S. plunged to a
14-year low in September and sales of previously owned homes fell to the lowest
level in eight years. Elsewhere, long positions in Japanese fixed-income futures
resulted in gains as prices moved higher after the Bank of Japan slashed its
yearly economic growth forecast by 0.3%. Japanese fixed-income futures prices
received an additional boost when Bank of Japan Governor, Toshihiko Fukui,
stated that downside risks to the Japanese economy were heightened.

Within the currency sector, long positions in the Australian dollar, British
pound, and Canadian dollar versus the U.S. dollar recorded gains as the value of
the U.S. dollar weakened against its major rivals leading up to and after the
U.S. Federal Reserve's decision to lower its benchmark interest rate by 25 basis
points to 4.5%. Additionally, the value of the Australian dollar and Canadian
dollar increased in the wake of consistently rising commodity prices.

Within the metals markets, long positions in zinc and copper futures incurred
losses as prices fell on speculation that slowing global economic growth will
curb demand for industrial metals. Meanwhile, short positions in aluminum
futures recorded losses as prices moved higher following news that China, the
world's largest consumer of the metal, may become a net importer of the
commodity.

Within the agricultural markets, long positions in coffee futures resulted in
losses as prices decreased after heavy rains in Brazil's main growing regions
reduced concerns that crops may be damaged by a two-month drought. Meanwhile,
long positions in cocoa futures prices experienced losses as prices moved lower
amid speculation that a majority of crops in the Ivory Coast and Ghana may
escape widespread damage due to disease.

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MORGAN STANLEY SPECTRUM TECHNICAL L.P.
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MONTH ENDED YTD ENDED
OCTOBER 31, 2007 OCTOBER 31, 2007

Currencies 3.59 3.28
Interest Rates -0.51 0.39
Stock Indices 1.25 0.1
Energies 1.26 -0.37
Metals 0.4 -2.38
Agriculturals -0.07 -1.61

Note: Reflects trading results only and does not include fees or interest
income.

During the month, the Fund experienced gains in the currency, global stock
index, energy, and metals sectors. These gains were partially offset by losses
recorded in the global interest rate and agricultural sectors.

Within the currency sector, long positions in the Australian dollar, euro,
British pound, and Canadian dollar versus the U.S. dollar experienced gains as
the value of the U.S. dollar moved lower relative to its major rivals leading up
to and after the U.S. Federal Reserve's decision to lower its benchmark interest
rate by 25 basis points to 4.5%. Additionally, the value of the Australian
dollar and Canadian dollar increased in the wake of consistently rising
commodity prices.

Within the global stock index sector, long positions in Pacific Rim, European,
and U.S. stock index futures recorded gains as prices increased amid optimism
that the U.S. economy may have weathered the August financial market turmoil
after U.S. job growth exceeded economic forecasts. Furthermore, prices moved
higher after minutes from the U.S. Federal Reserve's previous meeting alleviated
concerns that the U.S. economy would head for an outright recession.

Within the metals markets, long positions in gold futures experienced gains as
prices rose above $800 an ounce for the first time since 1980 due to persistent
weakness in the value of the U.S. dollar and continued uncertainty regarding the
future direction of the global economy.

Smaller losses were recorded in the agricultural markets from long positions in
wheat futures as prices reversed lower amid news of an overabundance of supply
and speculative selling. Elsewhere, long positions in coffee futures resulted in
losses as prices decreased after heavy rains in Brazil's main growing regions
reduced concerns that crops may be damaged by a recent drought. Lastly, long
positions in cocoa futures prices experienced losses as prices moved lower amid
speculation that a majority of crops in the Ivory Coast and Ghana may escape
widespread damage due to disease.

MORGAN STANLEY SPECTRUM SERIES
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STATEMENTS OF OPERATIONS
- --------------------------------------------------------------------------------
FOR THE MONTH ENDED OCTOBER 31, 2007 (UNAUDITED)

MORGAN STANLEY MORGAN STANLEY
SPECTRUM CURRENCY SPECTRUM GLOBAL BALANCED
--------------------------------- ---------------------------------
PERCENTAGE OF PERCENTAGE OF
OCTOBER 1, 2007 OCTOBER 1, 2007
BEGINNING BEGINNING
AMOUNT NET ASSET VALUE AMOUNT NET ASSET VALUE
------------- ----------------- ------------ ------------------
$ % $ %

INVESTMENT INCOME
Interest income (Note 2) 311,399 .26 122,275 .33
---------- ---- ---------- ----

EXPENSES
Brokerage fees (Note 2) 459,158 .38 140,948 .38
Management fees (Note 3) 199,634 .17 38,302 .11
---------- ---- ---------- ----
Total Expenses 658,792 .55 179,250 .49
---------- ---- ---------- ----

NET INVESTMENT LOSS (347,393) (.29) (56,975) (.16)
---------- ---- ---------- ----

TRADING RESULTS
Trading profit (loss):
Realized -- -- 626,285 1.70
Net change in unrealized 8,103,727 6.77 (78,483) (.21)
---------- ---- ---------- ----
Total Trading Results 8,103,727 6.77 547,802 1.49
---------- ---- ---------- ----

NET INCOME 7,756,334 6.48 490,827 1.33
========== ==== ========== ====

MORGAN STANLEY SPECTRUM SERIES
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STATEMENTS OF CHANGES IN NET ASSET VALUE
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FOR THE MONTH ENDED OCTOBER 31, 2007 (UNAUDITED)

MORGAN STANLEY MORGAN STANLEY
SPECTRUM CURRENCY SPECTRUM GLOBAL BALANCED
------------------------------------------- ----------------------------------------
PER PER
UNITS AMOUNT UNIT UNITS AMOUNT UNIT
----------------- ------------ -------- ---------------- ---------- --------
$ $ $ $

Net Asset Value,
October 1, 2007 12,136,913.376 119,780,459 9.87 2,328,697.368 36,769,117 15.79
Net Income -- 7,756,334 .64 -- 490,827 .21
Redemptions (445,718.332) (4,684,500) 10.51 (52,682.094) (842,914) 16.00
Subscriptions 27,853.944 292,745 10.51 8,343.750 133,500 16.00
-------------- ----------- ------------- ----------
Net Asset Value,
October 31, 2007 11,719,048.988 123,145,038 10.51 2,284,359.024 36,550,530 16.00
============== =========== ============= ==========

The accompanying notes are an integral part of these financial statements.

MORGAN STANLEY MORGAN STANLEY MORGAN STANLEY
SPECTRUM SELECT SPECTRUM STRATEGIC SPECTRUM TECHNICAL
------------------------------ ----------------------------- -------------------------------
PERCENTAGE OF PERCENTAGE OF PERCENTAGE OF
OCTOBER 1, 2007 OCTOBER 1, 2007 OCTOBER 1, 2007
BEGINNING BEGINNING BEGINNING
AMOUNT NET ASSET VALUE AMOUNT NET ASSET VALUE AMOUNT NET ASSET VALUE
------------ ----------------- ----------- ----------------- ------------ ------------------
$ % $ % $ %

INVESTMENT INCOME
Interest income (Note 2) 1,342,016 .26 540,405 .25 1,602,872 .26
----------- ----- ----------- ----- ----------- -----

EXPENSES
Brokerage fees (Note 2) 2,570,772 .50 1,071,763 .50 3,027,906 .50
Management fees (Note 3) 1,123,526 .22 501,334 .23 936,206 .15
Incentive fees (Note 3) 226,592 .04 -- -- 756,878 .12
----------- ----- ----------- ----- ----------- -----
Total Expenses 3,920,890 .76 1,573,097 .73 4,720,990 .77
----------- ----- ----------- ----- ----------- -----
NET INVESTMENT LOSS (2,578,874) (.50) (1,032,692) (.48) (3,118,118) (.51)
----------- ----- ----------- ----- ----------- -----

TRADING RESULTS
Trading profit (loss):
Realized 13,838,392 2.69 4,682,475 2.18 6,070,600 1.00
Net change in unrealized 23,376,731 4.55 (2,361,116) (1.10) 29,386,854 4.85
----------- ----- ----------- ----- ----------- -----
Total Trading Results 37,215,123 7.24 2,321,359 1.08 35,457,454 5.85
----------- ----- ----------- ----- ----------- -----
NET INCOME 34,636,249 6.74 1,288,667 0.60 32,339,336 5.34
=========== ===== =========== ===== =========== =====

MORGAN STANLEY MORGAN STANLEY MORGAN STANLEY
SPECTRUM SELECT SPECTRUM STRATEGIC SPECTRUM TECHNICAL
--------------------------------- --------------------------------- ---------------------------------
PER PER PER
UNITS AMOUNT UNIT UNITS AMOUNT UNIT UNITS AMOUNT UNIT
-------------- ----------- ---- -------------- ----------- ---- -------------- ----------- ----
$ $ $ $ $ $

Net Asset Value,
October 1, 2007 17,386,697.192 514,154,469 29.57 11,997,696.062 214,352,517 17.87 30,231,963.830 605,581,257 20.03
Net Income -- 34,636,249 1.99 -- 1,288,667 .10 -- 32,339,336 1.07
Redemptions (508,787.127) (16,057,322) 31.56 (363,827.842) (6,537,986) 17.97 (873,200.254) (18,424,525) 21.10
Subscriptions 102,930.104 3,248,474 31.56 139,765.850 2,511,592 17.97 180,795.726 3,814,790 21.10
-------------- ----------- -------------- ----------- -------------- -----------
Net Asset Value,
October 31, 2007 16,980,840.169 535,981,870 31.56 11,773,634.070 211,614,790 17.97 29,539,559.302 623,310,858 21.10
============== =========== ============== =========== ============== ===========

The accompanying notes are an integral part of these financial statements.

MORGAN STANLEY SPECTRUM SERIES
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NOTES TO FINANCIAL STATEMENTS
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(UNAUDITED)

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1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ORGANIZATION. Morgan Stanley Spectrum Currency L.P. ("Spectrum Currency"),
Morgan Stanley Spectrum Global Balanced L.P. ("Spectrum Global Balanced"),
Morgan Stanley Spectrum Select L.P. ("Spectrum Select"), Morgan Stanley Spectrum
Strategic L.P. ("Spectrum Strategic"), and Morgan Stanley Spectrum Technical
L.P. ("Spectrum Technical") (individually, a "Partnership", or collectively, the
"Partnerships"), are limited partnerships organized to engage primarily in the
speculative trading of futures contracts, options on futures and forward
contracts, and forward contracts on physical commodities and other commodity
interests, including, but not limited to, foreign currencies, financial
instruments, metals, energy, and agricultural products (collectively, "Futures
Interests").

The general partner of each Partnership is Demeter Management Corporation
("Demeter"). The commodity brokers for Spectrum Global Balanced, Spectrum
Select, Spectrum Strategic, and Spectrum Technical are Morgan Stanley & Co.
Incorporated ("MS&Co.") and Morgan Stanley & Co. International plc ("MSIP").
Spectrum Currency's commodity broker is MS&Co. MS&Co. acts as the counterparty
on all trading of foreign currency forward contracts. For Spectrum Strategic and
Spectrum Technical, Morgan Stanley Capital Group Inc. ("MSCG") acts as the
counterparty on all trading of options on foreign currency forward contracts.
Demeter, MS&Co., MSIP, and MSCG are wholly-owned subsidiaries of Morgan Stanley.

Demeter is required to maintain a 1% minimum interest in the equity of each
Partnership and income (losses) are shared by Demeter and the limited partners
based upon their proportional ownership interests.

USE OF ESTIMATES. The financial statements are prepared in accordance with
accounting principles generally accepted in the United States of America, which
require management to make estimates and assumptions that affect the reported
amounts in the financial statements and related disclosures. Management believes
that the estimates utilized in the preparation of the financial statements are
prudent and reasonable. Actual results could differ from those estimates.

REVENUE RECOGNITION. Futures Interests are open commitments until settlement
date, at which time they are realized. They are valued at market on a daily
basis and the resulting net change in unrealized gains and losses is reflected
in the change in unrealized trading profit (loss) on open contracts from one
period to the next on the Statements of Operations. Monthly, MS&Co. pays each
Partnership interest income at a rate equal to the monthly average of the 4-week
U.S. Treasury bill discount rate during such month on 80% of the funds on
deposit with the commodity brokers at each month-end in the case of Spectrum
Currency, Spectrum Select, Spectrum Strategic, and Spectrum Technical, and on
100% in the case of Spectrum Global Balanced. For purposes of such interest
payments, Net Assets do not include monies owed to the Partnerships on Futures
Interests.

The Partnerships' functional currency is the U.S. dollar; however, they
transact business in currencies other than the U.S. dollar. Assets and
liabilities denominated in currencies other than the U.S. dollar are translated
into U.S. dollars at the rates in effect at the date of the Statements of
Changes in Net Asset Value. Income and expense items denominated in currencies
other than the U.S. dollar are translated into U.S. dollars at the rates in
effect during the period. Gains and losses resulting from the translation to
U.S. dollars are reported in income currently.

NET INCOME (LOSS) PER UNIT. Net income (loss) per unit of limited partnership
interest ("Unit(s)") is computed using the weighted average number of Units
outstanding during the period.

BROKERAGE AND RELATED TRANSACTION FEES AND COSTS.The brokerage fees for Spectrum
Currency and Spectrum Global Balanced are accrued at a flat monthly rate of 1/12
of 4.6% (a 4.6% annual rate) of Net Assets as of the first day of each month.

Brokerage fees for Spectrum Select, Spectrum Strategic, and Spectrum
Technical are accrued at a flat monthly rate of 1/12 of 6.0% (a 6.0% annual
rate) of Net Assets as of the first day of each month.

Such brokerage fees currently cover all brokerage fees, transaction fees and
costs, and ordinary administrative and continuing offering expenses.

OPERATING EXPENSES.The Partnerships incur monthly management fees and may incur
incentive fees. All common administrative and continuing offering expenses
including legal, auditing, accounting, filing fees, and other related expenses
are borne by MS&Co. through the brokerage fees paid by the Partnerships.

CONTINUING OFFERING. Units of each Partnership are offered at a price equal to
100% of the Net Asset Value per Unit as of the close of business on the last day
of each month. No selling commissions or charges related to the continuing
offering of Units are paid by the limited partners or the Partnerships. MS&Co.
pays all such costs.

REDEMPTIONS. Limited partners may redeem some or all of their Units at 100% of
the Net Asset Value per Unit as of the end of the last day of any month that is
at least six months after the closing at which a person first becomes a limited
partner. The Request for Redemption must be delivered to a limited partner's
local Morgan Stanley Branch Office in time for it to be forwarded and received
by Demeter, no later than 3:00 p.m., New York City time, on the last day of the
month in which the redemption is to be effective. Redemptions must be made in
whole Units, in a minimum amount of 50 Units required for each redemption,
unless a limited partner is redeeming his entire interest in a Partnership.

Units redeemed on or prior to the last day of the twelfth month from the date
of purchase will be subject to a redemption charge equal to 2% of the Net Asset
Value of a Unit on the Redemption Date. Units redeemed after the last day of the
twelfth month and on or prior to the last day of the twenty-fourth month from
the date of purchase will be subject to a redemption charge equal to 1% of the
Net Asset Value of a Unit on the Redemption Date. Units redeemed after the last
day of the twenty-fourth month from the date of purchase will not be subject to
a redemption charge. The foregoing redemption charges are paid to MS&Co.

EXCHANGES. On the last day of the first month which occurs more than six months
after a person first becomes a limited partner in any of the Partnerships, and
at the end of each month thereafter, limited partners may exchange their
investment among the Partnerships (subject to certain restrictions outlined in
the Limited Partnership Agreements) without paying additional charges.

DISTRIBUTIONS. Distributions, other than redemptions of Units, are made on a
pro-rata basis at the sole discretion of Demeter. No distributions have been
made to date. Demeter does not intend to make any distributions of the
Partnerships' profits.

INCOME TAXES.No provision for income taxes has been made in the accompanying
financial statements, as partners are individually responsible for reporting
income or loss based upon their respective share of each Partnership's revenues
and expenses for income tax purposes.

DISSOLUTION OF THE PARTNERSHIPS. Spectrum Currency, Spectrum Global Balanced,
Spectrum Strategic, and Spectrum Technical will terminate on December 31, 2035
and Spectrum Select will terminate on December 31, 2025, regardless of financial
condition at such time, or at an earlier date if certain conditions occur as
defined in each Partnership's Limited Partnership Agreement.

- --------------------------------------------------------------------------------
2. RELATED PARTY TRANSACTIONS

The Partnerships pay brokerage fees to MS&Co. as described in Note 1. Spectrum
Global Balanced, Spectrum Select, Spectrum Strategic, and Spectrum Technical's
cash is on deposit with MS&Co. and MSIP, and Spectrum Currency's cash is on
deposit with MS&Co., in futures interests trading accounts to meet margin
requirements as needed. MS&Co. pays interest on these funds as described in
Note 1.

- --------------------------------------------------------------------------------
3. TRADING ADVISORS

Demeter, on behalf of each Partnership, retains certain commodity trading
advisors to make all trading decisions for the Partnerships. The trading
advisors for each Partnership are as follows:

Morgan Stanley Spectrum Currency L.P.
John W. Henry & Company, Inc.
Sunrise Capital Partners, LLC

Morgan Stanley Spectrum Global Balanced L.P.
SSARIS Advisors, LLC

Morgan Stanley Spectrum Select L.P.
EMC Capital Management, Inc. ("EMC")
Northfield Trading L.P. ("Northfield")
Rabar Market Research, Inc. ("Rabar")
Sunrise Capital Management, Inc. ("Sunrise")
Graham Capital Management, L.P. ("Graham")

Morgan Stanley Spectrum Strategic L.P.
Blenheim Capital Management, L.L.C. ("Blenheim")
Eclipse Capital Management, Inc. ("Eclipse")
FX Concepts Trading Advisor, Inc. ("FX Concepts")

Morgan Stanley Spectrum Technical L.P.
Campbell & Company, Inc. ("Campbell")
Chesapeake Capital Corporation ("Chesapeake")
John W. Henry & Company, Inc. ("JWH")
Winton Capital Management Limited ("Winton")

Compensation to the trading advisors by the Partnerships consists of a
management fee and an incentive fee as follows:

MANAGEMENT FEE. The management fee for Spectrum Currency is accrued at a rate of
1/6 of 1% per month of Net Assets allocated to each trading advisor on the first
day of each month (a 2% annual rate).

The management fee for Spectrum Global Balanced is accrued at a rate of 5/48
of 1% per month of Net Assets allocated to its sole trading advisor on the first
day of each month (a 1.25% annual rate).

The management fee for Spectrum Select is accrued at a rate of 1/4 of 1% per
month of Net Assets allocated to Northfield and Sunrise on the first day of each
month (a 3% annual rate), 5/24 of 1% per month of Net Assets allocated to EMC
and Rabar on the first day of each month (a 2.5% annual rate), and 1/6 of 1% per
month of Net Assets allocated to Graham on the first day of each month (a 2%
annual rate).

The management fee for Spectrum Strategic is accrued at a rate of 1/4 of 1%
per month of Net Assets allocated to Blenheim and Eclipse on the first day of
each month (a 3% annual rate) and 1/6 of 1% per month of Net Assets allocated to
FX Concepts on the first day of each month (a 2% annual rate).

The management fee for Spectrum Technical is accrued at a rate of 1/6 of 1%
per month of Net Assets allocated to JWH and Winton on the first day of each
month (a 2% annual rate) and 1/4 of 1% per month of Net Assets allocated to
Campbell and Chesapeake on the first day of each month (a 3% annual rate).

INCENTIVE FEE. Spectrum Currency pays a monthly incentive fee equal to 20% of
the trading profits experienced with respect to each trading advisor's allocated
Net Assets as of the end of each calendar month.

Spectrum Global Balanced pays a monthly incentive fee equal to 15% of the
trading profits experienced with respect to its sole trading advisor's allocated
Net Assets as of the end of each calendar month.

Spectrum Select pays a monthly incentive fee equal to 15% of the trading
profits experienced with respect to the Net Assets allocated to Northfield and
Sunrise as of the end of each calendar month, 17.5% of the trading profits
experienced with respect to the Net Assets allocated to EMC and Rabar as of the
end of each calendar month, and 20% of the trading profits experienced with
respect to the Net Assets allocated to Graham as of the end of each calendar
month.

Spectrum Strategic pays a monthly incentive fee equal to 15% of the trading
profits experienced with respect to the Net Assets allocated to each of Blenheim
and Eclipse as of the end of each calendar month and 20% of the trading profits
experienced with respect to the Net Assets allocated to FX Concepts as of the
end of each calendar month.

Spectrum Technical pays a monthly incentive fee equal to 20% of the trading
profits experienced with respect to the Net Assets allocated to each of
Campbell, JWH, and Winton as of the end of each calendar month and 19% of the
trading profits experienced with respect to the Net Assets allocated to
Chesapeake as of the end of each calendar month.

Trading profits represent the amount by which profits from futures, forwards,
and options trading exceed losses after brokerage and management fees are
deducted.

For all Partnerships with trading losses, no incentive fee is paid in
subsequent months until all such losses are recovered. Cumulative trading losses
are adjusted on a pro-rata basis for the net amount of each month's
subscriptions and redemptions.

MANAGED FUTURES INVESTMENTS ARE SPECULATIVE, INVOLVE A HIGH DEGREE OF RISK, USE
SIGNIFICANT LEVERAGE, ARE GENERALLY ILLIQUID, HAVE SUBSTANTIAL CHARGES, ARE
SUBJECT TO CONFLICTS OF INTEREST, AND ARE SUITABLE ONLY FOR THE RISK CAPITAL
PORTION OF AN INVESTOR'S PORTFOLIO. BEFORE INVESTING IN ANY MANAGED FUTURES
INVESTMENT, QUALIFIED INVESTORS SHOULD READ THE PROSPECTUS OR OFFERING DOCUMENTS
CAREFULLY FOR ADDITIONAL INFORMATION WITH RESPECT TO CHARGES, EXPENSES, AND
RISKS. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

THIS REPORT IS BASED ON INFORMATION FROM MULTIPLE SOURCES AND MORGAN STANLEY
MAKES NO REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF INFORMATION FROM
SOURCES OUTSIDE OF MORGAN STANLEY.

Demeter Management Corporation
522 Fifth Avenue, 13th Floor
New York, NY 10036

Morgan Stanley

ADDRESS SERVICE REQUESTED

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