CONSENT OF INDEPENDENT AUDITORS


We consent to the use and incorporation by reference in the Proxy Statement and
Prospectus and the Statement of Additional Information constituting parts in
this Pre-Effective Amendment No. 1 to Registration Statement No. 333-99029 on
Form N-14 ("N-14 Registration Statement") of Morgan Stanley High Yield
Securities Inc., of our report dated September 23, 2002 relating to the August
31, 2002 financial statements of Morgan Stanley High Yield Securities Inc. and
our report dated March 12, 2002 relating to the January 31, 2002 financial
statements of Morgan Stanley High Income Advantage Trust III, both of which
accompany and are incorporated by reference in the N-14 Registration Statement.
We also consent to the reference to us under the heading "Financial Statements
and Experts" in such N-14 Registration Statement.




Deloitte & Touche LLP
New York, New York
October 1, 2002