Morgan Stanley has green light to control 50% of HTI and up to 5% of SIBEX

As a result of CNVM's decision, Morgan Stanley will be the most important foreign shareholder of the Sibiu Exchange, exceeding the 1.88 percent participation of the Warsaw Stock Exchange. Decisions will come into effect when they are communicated to Morgan Stanley International Holding Inc.

HTI Valori Mobiliare is the largest shareholder of the Sibiu Monetary-Financial and Commodities Exchange, with direct participation of 7.38 percent of the Exchange's share capital. Together with the Goa Invest company, HTI controls 8.43 percent of the Sibiu Exchange shares.

Morgan Stanley has 60 days to submit to CNVM documents with the modified HTI Valori Mobiliare shareholder structure, otherwise the decision will becomes invalid. HTI Valori Mobiliare also has a 2.76 equity interest in the Bucharest Stock Exchange (BVB).