Morgan Stanley Investment Management Announces Portfolio Management Changes for Morgan Stanley Emerging Markets Debt Fund, Inc. and Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Morgan Stanley Investment Management announced today portfolio management changes for Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE: MSD) and Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. (NYSE: EDD) (the “Funds”). The Funds are managed by the Emerging Markets Debt team of Morgan Stanley Investment Management Inc. (the “Adviser”). The team consists of a portfolio manager, analysts and traders. The member of the team primarily responsible for the day-to-day management of each Fund is Eric J. Baurmeister. Mr. Baurmeister has been associated with the Adviser in an investment management capacity since 1997. Mr. Baurmeister began managing Morgan Stanley Emerging Markets Debt Fund, Inc. in July 2002 and Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. at its inception in April 2007.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has over 560 investment professionals around the world and $382 billion in assets under management or supervision as of March 31, 2014. 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.

Morgan Stanley 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 1,200 offices in 43 countries. For further 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.

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

Contacts:

Morgan Stanley Investment Management
800-231-2608

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