MORGAN STANLEY

Ticker: MS CUSIP: 617446448 Class: COM

EMERALD ADVISERS, LLC's Holding History (CIK: 0001015083)

Note: Option positions (PUT/CALL) are excluded.

Q1 2015

Shares 6,744 Value ($000) $250 Avg Close $26.67 Range $25.09 - $29.04

Q4 2014

Shares 6,508 Value ($000) $253 Avg Close $26.37 Range $23.19 - $29.07

Q2 2014

Shares 8,825 Value ($000) $285 Avg Close $22.71 Range $20.81 - $24.20

Q1 2014

Shares 7,493 Value ($000) $234 Avg Close $22.70 Range $21.15 - $24.60

Q4 2013

Shares 10,569 Value ($000) $331 Avg Close $21.80 Range $19.35 - $23.37

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	6,744	$250	$26.67	$25.09 - $29.04
Q4 2014	6,508	$253	$26.37	$23.19 - $29.07
Q2 2014	8,825	$285	$22.71	$20.81 - $24.20
Q1 2014	7,493	$234	$22.70	$21.15 - $24.60
Q4 2013	10,569	$331	$21.80	$19.35 - $23.37