MGB Morgan Stanley Global Opportunity Bond Fund, Inc.

NEW YORK, Sept. 12 /PRNewswire-FirstCall/ -- Morgan Stanley Global Opportunity Bond Fund, Inc. (NYSE:MGB) (the "Fund") today announced that effective immediately, the Fund will be permitted to invest in various exchange-traded and over-the-counter derivative instruments and derivative securities, both for hedging and non-hedging purposes. Derivative products in which the Fund may invest include, but are not limited to, futures contracts; forward contracts; options; swaps, caps, collars and floors; structured notes; and other derivative products yet to be developed, so long as these new products are used in a manner consistent with the investment objectives of the Fund. The foregoing change to the Fund's investment policies was approved by the Fund's Board of Directors (the "Board") at a recent Board meeting. Additional disclosure regarding the derivative products in which the Fund may invest, as well as the risks associated with such products, will be included in the Fund's next annual report to its stockholders. The Fund is a non-diversified, closed-end management investment company seeking high current income and capital appreciation by investing primarily in debt securities of government and government-related issuers located in emerging countries and in securities of entities organized to restructure outstanding debt of such issuers. The Fund's primary investment objective is to seek high current income and its secondary objective is to seek capital appreciation. The Fund's advisor is Morgan Stanley Investment Management Inc., (MSIM) a unit of Morgan Stanley. MSIM, with over 400 investment professionals around the world, has more than $416 billion in assets under management or supervision as of May 31, 2005. MSIM offers investment management services to a diverse client base, which includes governments, institutions, corporations and individuals. Morgan Stanley is a global financial services firm and a market leader in securities, investment management and credit services. With more than 600 offices in 28 countries, Morgan Stanley connects people, ideas, and capital to help clients achieve their financial aspirations. Contact: Morgan Stanley Global Opportunity Bond Fund, Inc. For further information, please contact: Phone Number: 1 (888) 378-1568 For media inquiries only, please contact: Chad Peterson, Morgan Stanley Investment Management Phone Number (212) 762-9612 DATASOURCE: Morgan Stanley Global Opportunity Bond Fund, Inc. CONTACT: Phone Number: +1-888-378-1568, or For media inquiries only: Chad Peterson of Morgan Stanley Investment Management, +1-212-762-9612

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