<?xml version="1.0" encoding="UTF-8"?>
<!--
  == Copyright (c) 2002-2005. All rights reserved.
  == Financial Products Markup Language is subject to the FpML public license.
  == A copy of this license is available at http://www.fpml.org/documents/license
  -->
<!--
  Compounding and averaging interest rate swap with relative effective dates and
  relative termination dates.

  Effective dates equal the trade date plus two London business days. The resulting date
  is adjusted using the London and New York calendars and the modified following rule.

  Terminantion dates equal the effective date plus two years. The resulting date
  is adjusted using the London and  New York calendars and the modified following rule.
-->
  <FpML version="4-2" xmlns="http://www.fpml.org/2005/FpML-4-2" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.fpml.org/2005/FpML-4-2 ../fpml-main-4-2.xsd" xsi:type="DataDocument">
	<trade>
		<tradeHeader>
			<partyTradeIdentifier>
				<partyReference href="morganStanleyParty_0"/>
				<tradeId tradeIdScheme="http://xml.morganstanley.com/fid/ird/msTradeIdScheme/swapName">martin</tradeId>
			</partyTradeIdentifier>
			<partyTradeIdentifier>
				<partyReference href="counterparty_0"/>
				<tradeId tradeIdScheme="http://xml.morganstanley.com/fid/ird/counterpartyTradeIdScheme"/>
			</partyTradeIdentifier>
			<tradeDate id="tradeDate">2005-07-31</tradeDate>
		</tradeHeader>
		<swap>
			<productType>swap</productType>
			<swapStream id="swapStream_0_0">
				<payerPartyReference href="morganStanleyParty_0"/>
				<receiverPartyReference href="counterparty_0"/>
				<calculationPeriodDates id="calculationPeriodDates_0_0">
					<relativeEffectiveDate id="effectiveDate_0_0">
						<periodMultiplier>2</periodMultiplier>
						<period>D</period>
						<dayType>Business</dayType>
						<businessDayConvention>NONE</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
						</businessCenters>
						<dateRelativeTo href="tradeDate"/>
						<relativeDateAdjustments>
							<businessDayConvention>MODFOLLOWING</businessDayConvention>
							<businessCenters>
								<businessCenter>GBLO</businessCenter>
								<businessCenter>USNY</businessCenter>
							</businessCenters>
						</relativeDateAdjustments>
					</relativeEffectiveDate>
					<relativeTerminationDate id="terminationDate_0_0">
						<periodMultiplier>2</periodMultiplier>
						<period>Y</period>
						<businessDayConvention>MODFOLLOWING</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
							<businessCenter>USNY</businessCenter>
						</businessCenters>
						<dateRelativeTo href="effectiveDate_0_0"/>
					</relativeTerminationDate>
					<calculationPeriodDatesAdjustments>
						<businessDayConvention>MODFOLLOWING</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
							<businessCenter>USNY</businessCenter>
						</businessCenters>
					</calculationPeriodDatesAdjustments>
					<calculationPeriodFrequency>
						<periodMultiplier>6</periodMultiplier>
						<period>M</period>
						<rollConvention>NONE</rollConvention>
					</calculationPeriodFrequency>
				</calculationPeriodDates>
				<paymentDates>
					<calculationPeriodDatesReference href="calculationPeriodDates_0_0"/>
					<paymentFrequency>
						<periodMultiplier>6</periodMultiplier>
						<period>M</period>
					</paymentFrequency>
					<payRelativeTo>CalculationPeriodEndDate</payRelativeTo>
					<paymentDatesAdjustments>
						<businessDayConvention>MODFOLLOWING</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
							<businessCenter>USNY</businessCenter>
						</businessCenters>
					</paymentDatesAdjustments>
				</paymentDates>
				<calculationPeriodAmount>
					<calculation>
						<notionalSchedule id="notionalSchedule_0_0">
							<notionalStepSchedule>
								<initialValue>100000000</initialValue>
								<currency>USD</currency>
							</notionalStepSchedule>
						</notionalSchedule>
						<fixedRateSchedule>
							<initialValue>0.0003</initialValue>
						</fixedRateSchedule>
						<dayCountFraction>30/360</dayCountFraction>
					</calculation>
				</calculationPeriodAmount>
				<principalExchanges>
					<initialExchange>false</initialExchange>
					<finalExchange>false</finalExchange>
					<intermediateExchange>false</intermediateExchange>
				</principalExchanges>
				<cashflows>
					<cashflowsMatchParameters>false</cashflowsMatchParameters>
					<paymentCalculationPeriod id="paymentCalculationPeriod_0_0_1">
						<adjustedPaymentDate>2006-02-06</adjustedPaymentDate>
						<calculationPeriod id="calculationPeriod_0_0_1">
							<adjustedStartDate>2005-08-04</adjustedStartDate>
							<adjustedEndDate>2006-02-06</adjustedEndDate>
							<calculationPeriodNumberOfDays>182</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<fixedRate>0.0003</fixedRate>
						</calculationPeriod>
					</paymentCalculationPeriod>
					<paymentCalculationPeriod id="paymentCalculationPeriod_0_0_2">
						<adjustedPaymentDate>2006-08-04</adjustedPaymentDate>
						<calculationPeriod id="calculationPeriod_0_0_2">
							<adjustedStartDate>2006-02-06</adjustedStartDate>
							<adjustedEndDate>2006-08-04</adjustedEndDate>
							<calculationPeriodNumberOfDays>178</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<fixedRate>0.0003</fixedRate>
						</calculationPeriod>
					</paymentCalculationPeriod>
					<paymentCalculationPeriod id="paymentCalculationPeriod_0_0_3">
						<adjustedPaymentDate>2007-02-05</adjustedPaymentDate>
						<calculationPeriod id="calculationPeriod_0_0_3">
							<adjustedStartDate>2006-08-04</adjustedStartDate>
							<adjustedEndDate>2007-02-05</adjustedEndDate>
							<calculationPeriodNumberOfDays>181</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<fixedRate>0.0003</fixedRate>
						</calculationPeriod>
					</paymentCalculationPeriod>
					<paymentCalculationPeriod id="paymentCalculationPeriod_0_0_4">
						<adjustedPaymentDate>2007-08-06</adjustedPaymentDate>
						<calculationPeriod id="calculationPeriod_0_0_4">
							<adjustedStartDate>2007-02-05</adjustedStartDate>
							<adjustedEndDate>2007-08-06</adjustedEndDate>
							<calculationPeriodNumberOfDays>181</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<fixedRate>0.0003</fixedRate>
						</calculationPeriod>
					</paymentCalculationPeriod>
				</cashflows>
			</swapStream>
			<swapStream id="swapStream_0_1">
				<payerPartyReference href="counterparty_0"/>
				<receiverPartyReference href="morganStanleyParty_0"/>
				<calculationPeriodDates id="calculationPeriodDates_0_1">
					<relativeEffectiveDate id="effectiveDate_0_1">
						<periodMultiplier>2</periodMultiplier>
						<period>D</period>
						<dayType>Business</dayType>
						<businessDayConvention>NONE</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
						</businessCenters>
						<dateRelativeTo href="tradeDate"/>
						<relativeDateAdjustments>
							<businessDayConvention>MODFOLLOWING</businessDayConvention>
							<businessCenters>
								<businessCenter>GBLO</businessCenter>
								<businessCenter>USNY</businessCenter>
							</businessCenters>
						</relativeDateAdjustments>
					</relativeEffectiveDate>
					<relativeTerminationDate id="terminationDate_0_1">
						<periodMultiplier>2</periodMultiplier>
						<period>Y</period>
						<businessDayConvention>MODFOLLOWING</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
							<businessCenter>USNY</businessCenter>
						</businessCenters>
						<dateRelativeTo href="effectiveDate_0_1"/>
					</relativeTerminationDate>
					<calculationPeriodDatesAdjustments>
						<businessDayConvention>MODFOLLOWING</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
							<businessCenter>USNY</businessCenter>
						</businessCenters>
					</calculationPeriodDatesAdjustments>
					<calculationPeriodFrequency>
						<periodMultiplier>3</periodMultiplier>
						<period>M</period>
						<rollConvention>NONE</rollConvention>
					</calculationPeriodFrequency>
				</calculationPeriodDates>
				<paymentDates>
					<calculationPeriodDatesReference href="calculationPeriodDates_0_1"/>
					<paymentFrequency>
						<periodMultiplier>6</periodMultiplier>
						<period>M</period>
					</paymentFrequency>
					<payRelativeTo>CalculationPeriodEndDate</payRelativeTo>
					<paymentDatesAdjustments>
						<businessDayConvention>MODFOLLOWING</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
							<businessCenter>USNY</businessCenter>
						</businessCenters>
					</paymentDatesAdjustments>
				</paymentDates>
				<resetDates id="resetDates_0_1">
					<calculationPeriodDatesReference href="calculationPeriodDates_0_1"/>
					<resetRelativeTo>CalculationPeriodStartDate</resetRelativeTo>
					<fixingDates>
						<periodMultiplier>-2</periodMultiplier>
						<period>D</period>
						<dayType>Business</dayType>
						<businessDayConvention>NONE</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
						</businessCenters>
						<dateRelativeTo href="resetDates_0_1"/>
					</fixingDates>
					<resetFrequency>
						<periodMultiplier>1</periodMultiplier>
						<period>M</period>
					</resetFrequency>
					<resetDatesAdjustments>
						<businessDayConvention>MODFOLLOWING</businessDayConvention>
						<businessCenters>
							<businessCenter>GBLO</businessCenter>
						</businessCenters>
					</resetDatesAdjustments>
				</resetDates>
				<calculationPeriodAmount>
					<calculation>
						<notionalSchedule id="notionalSchedule_0_1">
							<notionalStepSchedule>
								<initialValue>100000000</initialValue>
								<currency>USD</currency>
							</notionalStepSchedule>
						</notionalSchedule>
						<floatingRateCalculation>
							<floatingRateIndex>USD-LIBOR-BBA</floatingRateIndex>
							<indexTenor>
								<periodMultiplier>6</periodMultiplier>
								<period>M</period>
							</indexTenor>
						</floatingRateCalculation>
						<dayCountFraction>ACT/360</dayCountFraction>
						<compoundingMethod>Straight</compoundingMethod>
					</calculation>
				</calculationPeriodAmount>
				<principalExchanges>
					<initialExchange>false</initialExchange>
					<finalExchange>false</finalExchange>
					<intermediateExchange>false</intermediateExchange>
				</principalExchanges>
				<cashflows>
					<cashflowsMatchParameters>false</cashflowsMatchParameters>
					<paymentCalculationPeriod id="paymentCalculationPeriod_0_1_1">
						<adjustedPaymentDate>2006-02-06</adjustedPaymentDate>
						<calculationPeriod id="calculationPeriod_0_1_1">
							<adjustedStartDate>2005-08-04</adjustedStartDate>
							<adjustedEndDate>2005-11-04</adjustedEndDate>
							<calculationPeriodNumberOfDays>92</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<floatingRateDefinition>
								<rateObservation>
									<adjustedFixingDate>2005-08-02</adjustedFixingDate>
									<observationWeight>32</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2005-09-01</adjustedFixingDate>
									<observationWeight>29</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2005-09-30</adjustedFixingDate>
									<observationWeight>31</observationWeight>
								</rateObservation>
							</floatingRateDefinition>
						</calculationPeriod>
						<calculationPeriod id="calculationPeriod_0_1_2">
							<adjustedStartDate>2005-11-04</adjustedStartDate>
							<adjustedEndDate>2006-02-06</adjustedEndDate>
							<calculationPeriodNumberOfDays>94</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<floatingRateDefinition>
								<rateObservation>
									<adjustedFixingDate>2005-11-02</adjustedFixingDate>
									<observationWeight>31</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2005-12-01</adjustedFixingDate>
									<observationWeight>30</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2005-12-30</adjustedFixingDate>
									<observationWeight>33</observationWeight>
								</rateObservation>
							</floatingRateDefinition>
						</calculationPeriod>
					</paymentCalculationPeriod>
					<paymentCalculationPeriod id="paymentCalculationPeriod_0_1_3">
						<adjustedPaymentDate>2006-08-04</adjustedPaymentDate>
						<calculationPeriod id="calculationPeriod_0_1_3">
							<adjustedStartDate>2006-02-06</adjustedStartDate>
							<adjustedEndDate>2006-05-04</adjustedEndDate>
							<calculationPeriodNumberOfDays>87</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<floatingRateDefinition>
								<rateObservation>
									<adjustedFixingDate>2006-02-02</adjustedFixingDate>
									<observationWeight>28</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2006-03-02</adjustedFixingDate>
									<observationWeight>29</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2006-03-31</adjustedFixingDate>
									<observationWeight>30</observationWeight>
								</rateObservation>
							</floatingRateDefinition>
						</calculationPeriod>
						<calculationPeriod id="calculationPeriod_0_1_4">
							<adjustedStartDate>2006-05-04</adjustedStartDate>
							<adjustedEndDate>2006-08-04</adjustedEndDate>
							<calculationPeriodNumberOfDays>92</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<floatingRateDefinition>
								<rateObservation>
									<adjustedFixingDate>2006-05-02</adjustedFixingDate>
									<observationWeight>32</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2006-06-01</adjustedFixingDate>
									<observationWeight>29</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2006-06-30</adjustedFixingDate>
									<observationWeight>31</observationWeight>
								</rateObservation>
							</floatingRateDefinition>
						</calculationPeriod>
					</paymentCalculationPeriod>
					<paymentCalculationPeriod id="paymentCalculationPeriod_0_1_5">
						<adjustedPaymentDate>2007-02-05</adjustedPaymentDate>
						<calculationPeriod id="calculationPeriod_0_1_5">
							<adjustedStartDate>2006-08-04</adjustedStartDate>
							<adjustedEndDate>2006-11-06</adjustedEndDate>
							<calculationPeriodNumberOfDays>94</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<floatingRateDefinition>
								<rateObservation>
									<adjustedFixingDate>2006-08-02</adjustedFixingDate>
									<observationWeight>31</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2006-08-31</adjustedFixingDate>
									<observationWeight>30</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2006-10-02</adjustedFixingDate>
									<observationWeight>33</observationWeight>
								</rateObservation>
							</floatingRateDefinition>
						</calculationPeriod>
						<calculationPeriod id="calculationPeriod_0_1_6">
							<adjustedStartDate>2006-11-06</adjustedStartDate>
							<adjustedEndDate>2007-02-05</adjustedEndDate>
							<calculationPeriodNumberOfDays>91</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<floatingRateDefinition>
								<rateObservation>
									<adjustedFixingDate>2006-11-02</adjustedFixingDate>
									<observationWeight>28</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2006-11-30</adjustedFixingDate>
									<observationWeight>31</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2007-01-02</adjustedFixingDate>
									<observationWeight>32</observationWeight>
								</rateObservation>
							</floatingRateDefinition>
						</calculationPeriod>
					</paymentCalculationPeriod>
					<paymentCalculationPeriod id="paymentCalculationPeriod_0_1_7">
						<adjustedPaymentDate>2007-08-06</adjustedPaymentDate>
						<calculationPeriod id="calculationPeriod_0_1_7">
							<adjustedStartDate>2007-02-05</adjustedStartDate>
							<adjustedEndDate>2007-05-04</adjustedEndDate>
							<calculationPeriodNumberOfDays>88</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<floatingRateDefinition>
								<rateObservation>
									<adjustedFixingDate>2007-02-01</adjustedFixingDate>
									<observationWeight>28</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2007-03-01</adjustedFixingDate>
									<observationWeight>30</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2007-04-02</adjustedFixingDate>
									<observationWeight>30</observationWeight>
								</rateObservation>
							</floatingRateDefinition>
						</calculationPeriod>
						<calculationPeriod id="calculationPeriod_0_1_8">
							<adjustedStartDate>2007-05-04</adjustedStartDate>
							<adjustedEndDate>2007-08-06</adjustedEndDate>
							<calculationPeriodNumberOfDays>94</calculationPeriodNumberOfDays>
							<notionalAmount>100000000</notionalAmount>
							<floatingRateDefinition>
								<rateObservation>
									<adjustedFixingDate>2007-05-02</adjustedFixingDate>
									<observationWeight>31</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2007-05-31</adjustedFixingDate>
									<observationWeight>30</observationWeight>
								</rateObservation>
								<rateObservation>
									<adjustedFixingDate>2007-07-02</adjustedFixingDate>
									<observationWeight>33</observationWeight>
								</rateObservation>
							</floatingRateDefinition>
						</calculationPeriod>
					</paymentCalculationPeriod>
				</cashflows>
			</swapStream>
		</swap>
	</trade>
	<party id="morganStanleyParty_0">
		<partyId>0103</partyId>
		<partyName>MarketProducts</partyName>
	</party>
	<party id="counterparty_0">
		<partyId>0617mpm24</partyId>
	</party>
</FpML>
