Morgan Stanley&Co. Inc. Trust floater certificates series 2006-1440 (Minnesota), relating to Pool Trust 01 01 National 001, are rated 'AAA/A-1'. The long-term component of the rating is based on the underlying bond. The short-term component of the rating is based on a guarantee provided by Morgan Stanley and a liquidity facility provided by Morgan Stanley Municipal Funding Inc. until July 26, 2007. Morgan Stanley&Co. Inc. Trust residual certificates series 2006-1440 (Minnesota), relating to Pool Trust 01 01 National 001, are rated 'AAA'. The rating is based on the underlying bond.