Morgan Stanley

Industry and Regional Coverage Morgan Stanley brings to its clients a deep understanding of many industries: Morgan Stanley Investment Banking Industry Coverage

Basic Materials Consumer Products Communications Energy Financial Institutions Financial Sponsors Healthcare

Industrials Power and Utilities Real Estate Retail Services Technology Transportation

Morgan Stanley combines global presence with local knowledge to play a major role in each country where we offer our services: Morgan Stanley Investment Banking Regional Coverage The Americas Canada Latin America U.S. - Eastern Region U.S. - Midwest Region U.S. - Southwest Region U.S. - Western Region Asia Australia China Hong Kong India Indonesia Japan Korea Malaysia New Zealand Philippines Singapore Taiwan Thailand Vietnam Europe Africa Belgium South Africa Central and Eastern Europe (CEE) France Germany and Austria Greece Iberia Israel Italy Middle East North Africa (MENA) Netherlands Nordic Russia Switzerland Turkey United Kingdom

Product Overview Services Mergers and Acquisitions Morgan Stanley's Mergers and Acquisitions (M&A) department devises and executes innovative, customized solutions to our clients' most challenging issues. The M&A team excels in domestic and international transactions including acquisitions, divestitures, mergers, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts and takeover defenses as well as shareholder relations. Morgan Stanley applies its extensive experience with global industries, regions and banking products to meet our clients' short- and long-term strategic objectives. Global Capital Markets Morgan Stanley's Global Capital Markets (GCM) group responds with market judgments and ingenuity to clients' needs for capital. Whether executing an IPO, a debt offering or a leveraged buyout, GCM integrates our expertise in Sales and Trading and in Investment Banking to offer clients seamless advice and sophisticated solutions. We originate, structure and execute public and private placement of a variety of securities: equities, investment-grade and non-investment-grade debt and related products. With fresh ideas and distribution capabilities in every major market, GCM works to help clients get the most value from each stage of a transaction. GCM also is continually developing capital market solutions to enable clients to mitigate strategic, operational, credit and market risks. Securitized Products Group The Securitized Products Group (SPG) engages in a wide array of activities that include structuring, underwriting, and trading collateralized securities across the globe. SPG makes active markets and takes proprietary positions in the full range of asset-backed, residential mortgage-backed, commercial-backed and collateralized debt obligation securities in both the cash and synthetic markets. In addition, SPG originates commercial mortgage and single-family loans through conduit and loan purchase activities, and advises clients on securitization opportunities. Bringing together Morgan Stanley's Fixed Income and Investment Banking divisions, SPG draws on their expertise in finance, capital markets, trading and research to give clients the best of securitization finance.

Microfinance
Morgan Stanleys social finance activities focus on business models that provide basic services such as financial services (microfinance), housing, micro-energy, healthcare and water to those at the base of the economic pyramid. By intermediating the flow of capital to businesses that generate financial and social returns, we help expand economic opportunities to disadvantaged communities. International Microfinance Microfinance is recognized as an effective tool for empowering the working poor to achieve financial independence. To meet the tremendous demand for financial services, microfinance

institutions (MFIs) need consistent and affordable access to capital. Morgan Stanley meets this need by providing specialized technical expertise and acting as an intermediary that connects MFIs with the capital markets. Since 2006, we have intermediated over $550 million of microfinance securities across a range of transactions each a landmark for the industry to facilitate access to capital for over 30 MFIs. This has benefited several million low-income entrepreneurs. Domestic financial inclusion We are committed to supporting the development of inclusive financial services in the U.S., applying our international social finance experience to help organizations increase their impact by growing and achieving financial sustainability. We provide capital and technical assistance to a range of organizations that work to broaden the range of financial services available to unbanked communities in the U.S. Thought leadership Morgan Stanley supports strategic dialogues and research that provide investors with insights into investment opportunities in social finance. For example, we recently provided financial sponsorship and strategic guidance for a study on best practices and guidelines for handling debt defaults by microfinance institutions, published by the International Association of Microfinance Investors (IAMFI).