Morgan Stanley Global Opportunity Bond Fund, Inc. to Reorganize into Morgan Stanley Emerging Markets Debt Fund, Inc.

Morgan Stanley Global Opportunity Bond Fund, Inc. (NYSE: MGB) (the �Fund�) announced today that its Board of Directors approved a proposed reorganization of the Fund into Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE: MSD), a non-diversified, closed-end management investment company advised by the Fund�s investment adviser, Morgan Stanley Investment Management Inc. (�MSIM�). The proposed reorganization will be subject to approval by the Fund�s stockholders of record as of September 4, 2009 at a meeting scheduled for November 18, 2009.

The Fund is a non-diversified, closed-end management investment company, the shares of common stock of which are listed on the New York Stock Exchange. The Fund�s investment objective is to seek to produce high current income and, as a secondary investment objective, capital appreciation.

MSIM is a wholly owned subsidiary of Morgan Stanley and, together with its investment advisory affiliates, has nearly 1,000�investment professionals around the world and over $356�billion in assets under management or supervision as of March�31, 2009. By leveraging its global �community of boutiques� structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm�s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600�offices in 36�countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

Morgan Stanley Global Opportunity Bond Fund, Inc. (NYSE:MGB)
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