Fitch Issues Presale Report on Morgan Stanley Auto Loan Trust 2004-HB2

NEW YORK--Aug. 1, 20048, 2004--Fitch Ratings issued a presale report today on Morgan Stanley Auto Loan Trust (MSALT) 2004-HB2 discussing the rating analysis behind Fitch's expected 'AAA' ratings on the class A notes, 'A+' ratings on the class B notes, 'BBB+' ratings on the class C notes, 'BBB' ratings on the class D notes, and 'BB' on the class E notes. The securities are backed by a pool of prime retail installment sales contracts secured by new and used automobiles and light duty trucks from a diverse pool of manufacturers originated by The Huntington National Bank.

The following presale report is available to all investors on Fitch's corporate site 'www.fitchratings.com'. For more information about Fitch's comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than twenty asset classes, contact product sales at 212-908-0800 or at webmaster@fitchratings.com.