Underwriter Performance Report

Period Covered: 01/2007 - 03/2007

(only includes IPOs for which underwriter served as the lead underwriter )

Morgan Stanley
1251 Avenue of Americans Number of Offerings: 4
New York, NYTotal Amount Raised: $706.3 Mil.
Telephone: 212-703-4000Avg. Amount per Deal: $176.6 Mil.
Internet: http://www.ms.com/Avg. Company Market Val.: $644.7 Mil.
 Avg. Percent Change: +21.43 %
 
Name Symbol Offer Date Offer
Price
Close Price
on 03/30/07
Percent
Change
Amount
Raised $Mil.
BigBand Networks Inc.BBND03/15/07$13.00$18.01+38.3%$97.5
Sourcefire Inc.FIRE03/09/07$15.00$17.62+17.6%$79.8
Employers Holdings Inc. (EIG Mutual Holding)EIG01/31/07$17.00$20.02+17.6%$454.8
eTelecare Global Solutions Inc.ETEL03/28/07$13.50$15.15+12.2%$74.2