For Immediate Release

MUFG and Morgan Stanley Announce New Agreements
to Strengthen Global Alliance

NEW YORK, June 30, 2009 – Mitsubishi UFJ Financial Group, Inc. (MUFG) (NYSE: MTU) andMorgan Stanley (NYSE: MS) today announced new initiatives that will expand the scope of theirpreviously announced strategic alliance into new geographies and businesses. The new initiatives
are:•A global alliance in corporate and investment banking consisting of the creation of a loanmarketing joint venture in the Americas starting initially in the U.S., and business referralarrangements in Asia, Europe, the Middle East and Africa;•A commodities-specific initiative, in the form of a referral agreement for commodities
transactions executed outside of Japan; and•

Secondment of personnel for sharing of best practices and expertise.

“We are delighted to be strengthening our strategic alliance with MUFG through these importantinitiatives,” said Morgan Stanley Chairman and CEO John J. Mack. “Looking ahead, the newly
formed loan marketing JV provides our clients with even stronger financing capabilities, and thecommodities referral agreement gives MUFG’s clients access to an industry-leading commodities
platform.”
Nobuo Kuroyanagi, President and Chief Executive Officer of MUFG, said, “Today’sannouncement demonstrates that our strategic alliance with Morgan Stanley is deliveringsignificant tangible benefits. I am confident that the initiatives we have announced today will
enhance both companies’ global presence, enable us to better meet the needs of our respective
clients and generate increased revenues.”
U.S. Loan Marketing Joint Venture
The two firms will come together to create Morgan Stanley MUFG Loan Partners, a new loan
marketing joint venture that will generate attractive credit opportunities for both firms and provideclients in the U.S., Canada and Latin America (subject to clearance of any regulatory requirementin each jurisdiction) with access to expanded, world-class lending and capital markets services
from both companies.
The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), a subsidiary of MUFG, and Morgan Stanley,
if combined, would constitute one of the largest lenders to major U.S. corporations, with total loan
commitments over US$100 billion.
Business Referral Arrangements in Asia and EMEA – Summary of Terms
MUFG and Morgan Stanley have agreed on term sheets under which they will pursue
arrangements to leverage their respective relationships with customers in Asia, specifically,ASEAN, India, Australia, Korea, Taiwan and Hong Kong, and in Europe, the Middle East, andAfrica through referrals of new business opportunities. The arrangements are intended to cover anumber of products and services, including capital markets, loans, fixed income sales and otherancillary businesses. MUFG and Morgan Stanley intend to initiate the arrangements immediately
following their execution of definitive agreements.
Commodities Referral Agreement
Additionally, the two firms have entered into the Global Commodities Referral Agreement thatgoverns the referral of BTMU clients to the Morgan Stanley Capital Group (MSCG) for
commodities business. Through this agreement, BTMU will be able to refer clients to MSCG for
commodity transactions and receive referral fees upon deal completion. Both BTMU and MSCG
expect to increase product offerings and revenue opportunities to BTMU clients that are involvedin the global commodity business.
Employee Secondment
MUFG and Morgan Stanley have also agreed to the framework of a secondment program. The
purpose of the program is to facilitate the sharing of best practices and expertise between the twocompanies. The program will begin with the secondment of MUFG personnel to Morgan Stanley.
The parties intend to initiate this program following the finalization of a formal agreement. In
addition to benefiting from the experience of working in different corporate cultures, the2

secondees will also be able to share knowledge and help maximize the benefits of the strategic
alliance across a variety of business areas.
These new initiatives follow the previous announcement of a memorandum of understanding(MOU) to create a separate joint venture to combine both MUFG’s and Morgan Stanley’ssecurities businesses in Japan.
About MUFG
MUFG is one of the world’s leading financial groups, with total assets of more than JPY193
trillion (approximately US$2.0 trillion) as of March 31, 2009. MUFG’s services includecommercial banking, trust banking, securities, credit cards, consumer finance, asset managementand leasing. The Group’s operating companies include BTMU, Japan’s largest commercial bank,Mitsubishi UFJ Trust and Banking Corporation, Japan’s leading trust bank, and Mitsubishi UFJSecurities, one of Japan’s largest securities firms. For more information about MUFG, please
visit http://www.mufg.jp/english/index.html.
About Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investmentbanking, securities, investment management and wealth management services. The Firm's
employees serve clients worldwide including corporations, governments, institutions andindividuals from more than 600 offices in 36 countries. For further information about Morgan
Stanley, please visit www.morganstanley.com.
###Contacts for MUFG:
Jim Barron/Kara Findlay/Nicole Tolmie
Sard Verbinnen
212-687-8080
kfindlay@sardverb.com

Contacts for Morgan Stanley:Media Relations
New York: Jeanmarie McFadden,+1.212.762.6901
London: Wesley McDade, +44.207.425.4942
Tokyo: Mika Watanabe, +81.3.5424.5019

Michael Berkeley
Citigate Dewe Rogerson+44-(0)20-7282-2883

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