NOTIFICATION  OF  THE  REMOVAL  FROM  LISTING  AND REGISTRATION OF THE STATED
SECURITIES

The American Stock Exchange LLC hereby notifies  the  SEC of its intention to
remove   the  entire  class  of  the  stated  securities  from  listing   and
registration  on  the  Exchange  at the opening of business on July 27, 2006,
pursuant to the provisions of Rule 12d2-2 (a). 17CFR240.12d2-2(a)(2)

The removal of Morgan Stanley Performance  Leveraged  Upside Securities Based
on the Performance of a Basket of Semiconductor Companies,  expiring July 15,
2006  is  being  effected because the Exchange knows or is reliably  informed
that the entire class  of  this  security was redeemed or paid at maturity or
retirement on July 15, 2006.

The security was suspended by the Exchange on July 17, 2006.