Hartcourt Companies (fka HRCT)

[CABRALEES]

OT: MORGAN STANLEY SELLS AIRCRAFT LEASING OPS FOR $2.5B CASH

Morgan Stanley selling aircraft leasing unit to Terra Firma (MS) By David Weidner
NEW YORK (MarketWatch) -- Morgan Stanley (MS) is selling its aircraft leasing business to European private equity firm Terra Firma for $2.5 billion in cash, the companies said Monday. The deal, subject to regulatory approval, is expected to close in the first half of 2006. Morgan Stanley recorded a $1 billion after-tax write down of the unit's value in the third quarter of 2005. Shares of Morgan Stanley rose 81 cents on Friday to close at $60.78.