Morgan Stanley Suspends 2 Over Curry Affair, According to VaultReports.com Message Board

Business Wire, May 28, 1999

NEW YORK--(BUSINESS WIRE)--May 27, 1999--

A new posting on VaultReports.com's message board for Morgan Stanley Dean Witter (NYSE: MWD) reports that the investment bank has just issued a statement that it "suspended two employees in its Law Department," pending the completion of the investigation of the bank's $10,000 payment to Joseph Luethke.

Posted minutes ago, the message says that Morgan Stanley CEO Philip J. Purcell and President John J. Mack called the decision to pay Luethke the $10,000 a "mistake in judgment that the firm deeply regrets." It goes on to report that the two men said that "if either of us had known about Luethke's request for money, no payment would ever have been made."

Go to the Morgan Stanley area of VaultReports.com's message boards to read the full message: http://vaultreports.com/links/MSMessageboard

The Internet's leading workplace portal, VaultReports.com and its newly introduced employee message boards have become ground zero for fierce public debate over the much-publicized Christian Curry affair. In the last week, reporters from such publications as the New York Times and the New York Observer have been closely watching and referencing VaultReports.com's message boards as the debate unfolds. In just the last two days, the VaultReports.com message board for Morgan Stanley (http://vaultreports.com/links/MSMessageboard) has seen tens of thousands of visitors.

Needless to say, the messages in VaultReports.com's message boards are solely the opinions of the respective posters and do not reflect the opinions of VaultReports.com or the companies to which they pertain.

VaultReports.com also offers message boards for other top investment banks, including A.G. Edwards & Sons (NYSE: AGE), Legg Mason (NYSE: LM), JP Morgan (NYSE: JPM). Goldman Sachs (NYSE: GS, Donaldson, Lufkin, & Jenrette (NYSE: DLJ), Lehman Brothers (NYSE: LEH) ,Bear Stearns (NYSE: BSC), Morgan Keegan (NYSE: MOR), and Salomon Smith Barney (Subsidiary of Citigroup Inc. (NYSE: C)).

About VaultReports.com

In January,VaultReports.com (http://www.VaultReports.com) was one of only two career web sites honored by Yahoo Internet Life as "Best of the Best Sites for 1998." A leading workplace portal, VaultReports.com publishes "insider" guides on over 1,500 companies and 50 industries. Six weeks ago, VaultReports.com launched its Electronic WaterCooler(TM), the first-ever network of company-specific bulletin boards. Located at http://vaultreports.com/links/MessageBoards, Vault's Electronic Watercooler(TM) allows employees around the world to dish the latest gossip about their company or other companies - all within the uncensored domain of the VaultReports.com web site. VaultReports.com was founded in 1996 by H.S. Hamadeh, Samer Hamadeh, and Mark Oldman, recent graduates of Stanford and Wharton.