New York, April 11, 2007 – Baker & McKenzie LLP successfully rep…

New York, April 11, 2007 – Baker & McKenzie LLP successfully represented Morgan Stanley’s Global Commodities Group on a minority equity investment in MGM International (“MGM”). Morgan Stanley (NYSE: MS) has announced that it plans to invest in approximately $3 billion of carbon/emissions credits, projects and other initiatives related to greenhouse gas (GHG) emissions reduction over the next five years.

The transaction between Morgan Stanley’s Global Commodities Group and MGM provides an opportunity to jointly expand their existing businesses in greenhouse gas (GHG) emissions reduction, through Clean Development Mechanism (CDM) and Joint Implementation (JI) projects. Morgan Stanley’s investment terms were not disclosed.

The Baker & McKenzie team was led by Corporate Partner Roslyn Tom in New York and Climate Change Partner Christopher Norton in London with assistance from Tax Partner Charles Wagner, Executive Compensation Partner Richard Reilly and associate Oreste Cipolla in New York and associate Anna McCann in London.

Morgan Stanley, through its Global Commodities Group, is a major trader in the energy, emission reductions and carbon credits, and metals markets globally. Morgan Stanley’s Global Commodities Group is also an active investor in private equity and commodities related assets. MGM International is a global leader in the development of projects that contribute towards climate change mitigation.

Roslyn Tom, Baker & McKenzie Corporate Partner in New York, said: “The successful transaction between Morgan Stanley’s Global Commodities Group and MGM further strengthens their positions in the carbon industry. Our involvement in closing such a significant deal demonstrates the Firm’s distinctive capabilities in advising on climate change matters in the U.S. and globally.”

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