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|-------------------------------------------------- | ---- | --------- | ------------- | ----- | -------------- |  | ----------------------- |  | --------------- |  | --------- |  |  |  | -------------- | 
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|Morgan Stanley ABS Capital I Inc. Series 2004-WMC1
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|2004 Annual Statement                             
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | DISTRIBUTION IN DOLLARS |  |                 |  |           |  | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  | ENDING BALANCE | 
|PERIOD                                             |      | CLASS     |               | CUSIP |                |  | INTEREST                |  |                 |  | PRINCIPAL |  | 
|200408                                             | A-1  | 61746RGY1 | $450,980.64   |       | $8,425,777.43  |  | $333,226,222.57         | 
|200409                                             | A-1  | 61746RGY1 | $581,896.29   |       | $9,455,734.69  |  | $323,770,487.88         | 
|200410                                             | A-1  | 61746RGY1 | $536,379.77   |       | $15,659,181.37 |  | $308,111,306.51         | 
|200411                                             | A-1  | 61746RGY1 | $608,691.00   |       | $12,294,566.24 |  | $295,816,740.27         | 
|200412                                             | A-1  | 61746RGY1 | $629,346.25   |       | $16,404,916.82 |  | $279,411,823.45         | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $2,807,293.95           |  | $62,240,176.55  |  |           |  | 
|200408                                             | A-2  | 61746RGR6 | $138,750.00   |       | $4,088,648.27  |  | $95,911,351.73          | 
|200409                                             | A-2  | 61746RGR6 | $175,397.88   |       | $2,921,091.72  |  | $92,990,260.01          | 
|200410                                             | A-2  | 61746RGR6 | $160,563.18   |       | $4,633,436.36  |  | $88,356,823.65          | 
|200411                                             | A-2  | 61746RGR6 | $181,622.36   |       | $5,236,721.36  |  | $83,120,102.29          | 
|200412                                             | A-2  | 61746RGR6 | $183,278.74   |       | $4,745,374.60  |  | $78,374,727.69          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $839,612.16             |  | $21,625,272.31  |  |           |  | 
|200408                                             | A-3  | 61746RGZ8 | $150,930.00   |       | $6,312,464.07  |  | $110,687,535.93         | 
|200409                                             | A-3  | 61746RGZ8 | $189,229.57   |       | $4,509,873.50  |  | $106,177,662.43         | 
|200410                                             | A-3  | 61746RGZ8 | $172,597.69   |       | $7,153,562.40  |  | $99,024,100.03          | 
|200411                                             | A-3  | 61746RGZ8 | $192,106.75   |       | $8,084,974.11  |  | $90,939,125.92          | 
|200412                                             | A-3  | 61746RGZ8 | $190,339.46   |       | $7,326,383.85  |  | $83,612,742.07          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $895,203.47             |  | $33,387,257.93  |  |           |  | 
|200408                                             | A-4  | 61746RHA2 | $56,645.85    |       | $0.00          |  | $37,390,000.00          | 
|200409                                             | A-4  | 61746RHA2 | $74,203.57    |       | $0.00          |  | $37,390,000.00          | 
|200410                                             | A-4  | 61746RHA2 | $69,503.86    |       | $0.00          |  | $37,390,000.00          | 
|200411                                             | A-4  | 61746RHA2 | $82,507.27    |       | $0.00          |  | $37,390,000.00          | 
|200412                                             | A-4  | 61746RHA2 | $87,917.94    |       | $0.00          |  | $37,390,000.00          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $370,778.49             |  | $0.00           |  |           |  | 
|200408                                             | B-1  | 61746RGV7 | $28,756.22    |       | $0.00          |  | $11,211,000.00          | 
|200409                                             | B-1  | 61746RGV7 | $36,636.61    |       | $0.00          |  | $11,211,000.00          | 
|200410                                             | B-1  | 61746RGV7 | $33,047.54    |       | $0.00          |  | $11,211,000.00          | 
|200411                                             | B-1  | 61746RGV7 | $38,690.41    |       | $0.00          |  | $11,211,000.00          | 
|200412                                             | B-1  | 61746RGV7 | $39,876.76    |       | $0.00          |  | $11,211,000.00          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $177,007.54             |  | $0.00           |  |           |  | 
|200408                                             | B-2  | 61746RGW5 | $30,858.28    |       | $0.00          |  | $11,211,000.00          | 
|200409                                             | B-2  | 61746RGW5 | $39,205.80    |       | $0.00          |  | $11,211,000.00          | 
|200410                                             | B-2  | 61746RGW5 | $35,227.45    |       | $0.00          |  | $11,211,000.00          | 
|200411                                             | B-2  | 61746RGW5 | $41,181.74    |       | $0.00          |  | $11,211,000.00          | 
|200412                                             | B-2  | 61746RGW5 | $42,290.24    |       | $0.00          |  | $11,211,000.00          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $188,763.51             |  | $0.00           |  |           |  | 
|200408                                             | B-3  | 61746RGX3 | $34,822.31    |       | $0.00          |  | $9,342,000.00           | 
|200409                                             | B-3  | 61746RGX3 | $43,802.30    |       | $0.00          |  | $9,342,000.00           | 
|200410                                             | B-3  | 61746RGX3 | $38,800.44    |       | $0.00          |  | $9,342,000.00           | 
|200411                                             | B-3  | 61746RGX3 | $45,111.48    |       | $0.00          |  | $9,342,000.00           | 
|200412                                             | B-3  | 61746RGX3 | $45,697.83    |       | $0.00          |  | $9,342,000.00           | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $208,234.36             |  | $0.00           |  |           |  | 
|200408                                             | M-1  | 61746RGS4 | $77,906.32    |       | $0.00          |  | $49,701,000.00          | 
|200409                                             | M-1  | 61746RGS4 | $101,824.92   |       | $0.00          |  | $49,701,000.00          | 
|200410                                             | M-1  | 61746RGS4 | $95,094.58    |       | $0.00          |  | $49,701,000.00          | 
|200411                                             | M-1  | 61746RGS4 | $112,766.05   |       | $0.00          |  | $49,701,000.00          | 
|200412                                             | M-1  | 61746RGS4 | $119,861.60   |       | $0.00          |  | $49,701,000.00          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $507,453.47             |  | $0.00           |  |           |  | 
|200408                                             | M-2  | 61746RGT2 | $87,666.96    |       | $0.00          |  | $42,974,000.00          | 
|200409                                             | M-2  | 61746RGT2 | $112,860.47   |       | $0.00          |  | $42,974,000.00          | 
|200410                                             | M-2  | 61746RGT2 | $103,280.85   |       | $0.00          |  | $42,974,000.00          | 
|200411                                             | M-2  | 61746RGT2 | $121,568.67   |       | $0.00          |  | $42,974,000.00          | 
|200412                                             | M-2  | 61746RGT2 | $126,951.80   |       | $0.00          |  | $42,974,000.00          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $552,328.75             |  | $0.00           |  |           |  | 
|200408                                             | M-3  | 61746RGU9 | $24,131.68    |       | $0.00          |  | $11,211,000.00          | 
|200409                                             | M-3  | 61746RGU9 | $30,984.40    |       | $0.00          |  | $11,211,000.00          | 
|200410                                             | M-3  | 61746RGU9 | $28,251.72    |       | $0.00          |  | $11,211,000.00          | 
|200411                                             | M-3  | 61746RGU9 | $33,209.47    |       | $0.00          |  | $11,211,000.00          | 
|200412                                             | M-3  | 61746RGU9 | $34,567.10    |       | $0.00          |  | $11,211,000.00          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $151,144.37             |  | $0.00           |  |           |  | 
|200408                                             | P    | MS04W1102 | $41,922.86    |       | $0.00          |  | $0.00                   | 
|200409                                             | P    | MS04W1102 | $309,452.07   |       | $0.00          |  | $0.00                   | 
|200410                                             | P    | MS04W1102 | $528,877.46   |       | $0.00          |  | $0.00                   | 
|200411                                             | P    | MS04W1102 | $444,909.25   |       | $0.00          |  | $0.00                   | 
|200412                                             | P    | MS04W1102 | $513,765.35   |       | $0.00          |  | $0.00                   | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $1,838,926.99           |  | $0.00           |  |           |  | 
|200408                                             | UT-R | MS04W1103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200409                                             | UT-R | MS04W1103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200410                                             | UT-R | MS04W1103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200411                                             | UT-R | MS04W1103 | $0.00         |       | $0.00          |  | $0.00                   | 
|200412                                             | UT-R | MS04W1103 | $0.00         |       | $0.00          |  | $0.00                   | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $0.00                   |  | $0.00           |  |           |  | 
|200408                                             | X    | MS04W1101 | $2,882,431.76 |       | $834.38        |  | $15,695,147.62          | 
|200409                                             | X    | MS04W1101 | $2,472,861.69 |       | $0.00          |  | $15,695,147.62          | 
|200410                                             | X    | MS04W1101 | $2,491,136.25 |       | $0.00          |  | $15,695,147.62          | 
|200411                                             | X    | MS04W1101 | $2,157,961.54 |       | $0.00          |  | $15,695,147.62          | 
|200412                                             | X    | MS04W1101 | $1,974,005.79 |       | $0.00          |  | $15,695,147.62          | 
|                                                   |      |           |               |       |                |  |                         |  |                 |  |           |  |  |  |                | 
|                                                   |      |           |               |       |                |  | $11,978,397.03          |  | $834.38         |  |           |  | 
|                                                   |      |           |               |       |                |  | $20,515,144.09          |  | $117,253,541.17 |  |           |  |