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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): October 11, 2000
MORGAN STANLEY DEAN WITTER & CO.
(Exact name of registrant as specified in its charter)
Delaware 1-11758 36-3145972
(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification Number)
1585 Broadway, New York, New York 10036
(Address of principal executive offices including zip code)
Registrant's telephone number, including area code: (212) 761-4000
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Item 5. Other Events
Attached and incorporated herein by reference as Exhibit 99.1 is a press
release dated October 11, 2000 regarding recent activity in Morgan Stanley
Dean Witter & Co.'s high yield business.
Item 7(c). Exhibits
99.1 Press release dated October 11, 2000 regarding recent activity in Morgan
Stanley Dean Witter & Co.'s high yield business.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MORGAN STANLEY DEAN WITTER & CO.
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Registrant
/s/Ronald T. Carman
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Ronald T. Carman
Assistant Secretary
Date: October 11, 2000
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Index to Exhibits
Exhibit No. Description
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99.1 Press release dated October 11, 2000 regarding
recent activity in Morgan Stanley Dean Witter & Co.'s
high yield business.
<PAGE>
Exhibit 99.1
MORGAN STANLEY DEAN WITTER & CO.
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News
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FOR IMMEDIATE RELEASE
Contact: Corporate Communications
Raymond O'Rourke
(212) 761- 4262
NEW YORK - October 11, 2000: The following statement was issued today by
Morgan Stanley Dean Witter (NYSE: MWD) regarding recent rumors of losses in
its high yield business:
It has been our general policy not to comment on market rumors or on positions
we may hold in individual securities. However, in light of recent market
speculation about the size of losses in our high yield business, we are
providing the following information: First, total net trading revenues
year-to-date in our global high yield business are positive. Second, the
effect of markdowns to our high yield portfolio taken in the third quarter
reduced earnings by less than $.04 per share. Third, markdowns taken in the
current quarter are of approximately the same magnitude. Finally, we expect
that any additional markdowns over the balance of the quarter will not be
material.
Our results continue to benefit from a strong risk management culture that has
served us well through other periods of market turbulence.
We remain committed to the high yield business, which is a key component of
our total securities franchise. With the recent movement in the price of our
stock, we have accelerated our buyback activity.
Morgan Stanley Dean Witter & Co. is a global financial services firm and a
market leader in securities, asset management and credit services. The Company
has offices in New York, London, Tokyo, Hong Kong and other principal
financial centers around the world and more than 506 securities branch offices
throughout the United States.
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This release may contain forward-looking statements. These statements, which
reflect management's beliefs and expectations, are subject to risks and
uncertainties that may cause actual results to differ materially. For a
discussion of additional risks and uncertainties that may affect the Company's
future results, please see "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in the Company's 1999 Annual Report to
Shareholders and the Company's Quarterly Reports on Form 10-Q for fiscal 2000.
Access this press release on-line @ www.msdw.com
