Certain Morgan Stanley Closed-End Funds Declare Year-End Dividends

Each of the Morgan Stanley closed-end funds listed below (the “Funds”) today declared the following dividends.

*The amount of net investment income to be paid by the Funds is determined in accordance with federal income tax regulations. A portion of the Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.’s 2021 distribution is a return of capital. For Morgan Stanley Emerging Markets Debt Fund, Inc. it is possible that all or a portion of the Funds’ 2021 dividends may be a return of capital and that determination cannot yet be made.

The amount of dividends paid by each of the Funds may vary from time to time. Past amounts of dividends are no guarantee of future dividend payment amounts.

The final determination of the source and tax characteristics of all distributions in 2021 will be made after the end of the year.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 750 investment professionals around the world and $1.5 trillion in assets under management or supervision as of September 30, 2021. Morgan Stanley Investment Management 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. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.

Morgan Stanley Investment Management does not provide tax advice. Investors should always consult a legal or tax professional for information concerning their individual situation.

Investing involves risk and it is possible to lose money on any investment in the Funds.

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