BANK MORGAN STANLEY AG

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Year	Equity	Capital	Reserves	Balance
2002	40,200	20,000	20,200	932,240
2003	43,600	20,000	23,600	852,830
2004	50,000	20,000	30,000	1,143,032
2005	50,000	20,000	30,000	1,324,954
2006	50,000	20,000	30,000	1,215,688