Deal Name: Morgan Stanley Capital I Trust

  ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingDBRSFinalPricing (bp)BnchmarkA-1121.2020.002.99AAAAAAAAA+10swapsA-1A318.8320.007.38AAAAAAAAANAswapsA-2A294.9020.004.92AAAAAAAAA+23swapsA-2B42.1020.005.01AAAAAAAAA+26swapsA-AB111.1020.007.25AAAAAAAAA+29swapsA-3103.0020.007.80AAAAAAAAA+32swapsA-4A1,060.6030.009.66AAAAAAAAA+26swapsA-4B151.5120.009.84AAAAAAAAA+31swapsA-J175.5713.6259.92AAAAAAAAA+34swapsB24.1012.759.92AA+AA+AA(high)+42swapsC34.4311.509.92AAAAAA+44swapsD27.5410.509.92AA-AA-AA(low)+47swapsE24.109.6259.92A+A+A(high)+50swapsF27.548.6259.92AAA+54swapsG27.547.6259.92A-A-A(low)+65swapsH34.436.3759.92BBB+BBB+BBB(high)+100swapsJ30.985.259.92BBBBBBBBB+115swapsK41.313.759.92BBB-BBB-BBB(low)NAswapsL10.333.375NABB+BB+BB(high)NAswapsM10.333.00NABBBBBBNAswapsN17.212.375NABB-BB-BB(low)NAswapsO3.442.25NAB+B+B(high)NAswapsP10.331.875NABBBNAswapsQ10.331.50NAB-B-B(low)NAswapsS41.310.00NANRNRNRNAswapsX1*2,754.10NANAAAAAAAAAA+215TreasX2*2,672.NANAAAAAAAAAA+65Treas*Notional amount, interest onlyCollateral balance: $2,754.05 millionBookrunner(s): Morgan StanleyLead Managers: Morgan StanleyCo-managers: Banc of America Securities, RBS Greenwich Capital, SunTrustB-piece Buyer: CWCapitalMaster Servicer: Prudential/Wells FargoSpecial Servicer: CWCapital Asset ManagementTrustee: LaSalle BankOriginators: Morgan Stanley (74.5 percent), Wells Fargo ...

March 23, 2005 Class Amt $mln Sub Level% Avg Life (yrs) Rating S&P Rating Fitch Final Pricing (bp) Bnch mark A-1 121.00 20.00 3.17 AAA AAA +5 swaps A-2 160.90 20.00 4.86 AAA AAA +12 swaps A-3 159.40 20.00 6.86 ...

October 6, 2004 Class Amt $mln Sub Level% Avg Life (yrs) Rating S&P Rating Fitch Final Pricing (bp) Bnch mark A1 18.00 11.75 0.97 AAA AAA +10 EDSF** A2 50.00 11.75 3.49 AAA AAA +23 swaps A3 50.00 11.75 4.96 ...

August 12, 2004 Class Amt $mln Sub Level% Avg Life (yrs) Rating S&P Rating Fitch Price Talk (bp) Final Pricing (bp) Bnch mark A1 10.00 12.00 0.52 AAA AAA NA NA swaps A2 61.50 12.00 3.40 AAA AAA +31-32 +30 ...

August 5, 2004 Class Amt $mln Sub Level% Avg Life (yrs) Rating S&P Rating Fitch Price Talk (bp) Bnch mark A1 71.50 12.00 3.00 AAA AAA +31-32 swaps A2 109.00 12.00 5.40 AAA AAA +31-32 swaps A3 133.50 12.00 7.75 ...

July 22, 2004 Class Amt $mln Sub Level% Avg Life (yrs) Rating S&P Rating Moody's Final Pricing (bp) Bnch mark A-1 103.00 10.75 3.50 AAA Aaa +32 swaps A-2 102.00 10.75 5.70 AAA Aaa +32 swaps A-3 140.00 10.75 7.64 ...

May 20, 2004 Class Amt $mln Sub Level% Avg Life (yrs) Rating Moody's Rating Fitch Final Pricing (bp) Bnch mark A-1 86.00 12.00 3.03 AAA AAA +27 swaps A-2 70.00 12.00 5.95 AAA AAA +26 swaps A-3 53.00 12.00 7.73 ...

Class Amt ($mln) Sub Level (%) Avg Life (yrs) Rating Moody's Rating S&P Price Talk (bp) Final Pricing (bp) Bnch mark A1 113.9 15 3.45 Aaa AAA +17 area +20 swaps A2 319.8 15 5.90 Aaa AAA +24 area +26 ...

February 13, 2004 Class Amt ($mln) Sub Level (%) Avg Life (yrs) Rating Moody's Rating S&P Price Talk (bp) Bnch mark A1 113.9 15 3.45 Aaa AAA +17 area swaps A2 319.8 15 5.90 Aaa AAA +24 area swaps A3 ...

February 12, 2004Commercial Real Estate Direct Staff ReportMorgan Stanley is launching a $1.3 billion CMBS conduit under the HQ series.Two other conduits, from J.P. Morgan Chase and Wachovia Securities, both priced today at spreads that were wider than recent deals. ...