摩根斯坦利关于汽车的报告

Analyst Certification

Analyst Certification

The following analysts hereby certify that their views about the companies and their securities discussed in this report are accurately expressed and that they have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report:　Stephen J. Girsky.

Important US Regulartory Disclosures on Subject Companies

The information and opinions in this report were prepared by Morgan Stanley & Co. Incorporated (“Morgan Stanley”).

As of November 28, 2003, Morgan Stanley beneficially owned 1% or more of a class of common equity securities of the following companies covered in this report:　Delphi, General Motors, Goodyear Tire & Rubber, Johnson Controls, Magna Intl Inc., TBC and Tower Automotive.

Within the last 12 months, Morgan Stanley managed or co-managed a public offering of securities of DaimlerChrysler AG, Delphi, Ford, General Motors, Standard Motor Product