9 billion in proforma combined revenues 2

Harrison hit Moreno after he caught a pass from Orton in the middle of the field Harrison then hit Moreno with his helmet injuring Moreno The officials in the game did not flag Harrison. Harrison then celebrated the hit after he looked down at the injured Moreno. Open up your eyes refs and start calling penalties on the steelers quit helping them win. The league needs to investigate as to why the Steelers are benefactors of poor calls made on the other teams or lack of penalties thrown on them Goddell needs to quit having two sets of rules. He displays a clear bias when it comes to handing down fines for hits. Combined Firm, to be Called Morgan Stanley Smith Barney, Will Have More Than20,000 Financial Advisors and $1.7 Trillion in Client AssetsNew Industry Leader Will Offer Clients and Financial Advisors an UnmatchedGlobal PlatformTransaction Will Create Significant Value For Both Morgan Stanley and Citi -With $1.1 Billion in Estimated Cost SavingsNEW YORK(Business Wire)Morgan Stanley (NYSE: MS) and Citi (NYSE: C) today announced they have reached adefinitive agreement to combine Morgan Stanleys Global Wealth Management Groupand Citis Smith Barney, Quilter in the UK, and Smith Barney Australia into anew joint venture to be called Morgan Stanley Smith Barney.

This joint venturewill be the industrys leading wealth management business. It will not includeCiti Private Bank or Nikko Cordial Securities. The joint venture combines businesses that have1: More than 20,000 high-quality financial advisors; $1.7 trillion in client assets; $14.9 billion in pro-forma combined revenues; $2.8 billion in pro-forma combined pre-tax profit; 6.8 million client households globally - with a strong presence in thecritically important high-net-worth client segment; and, A footprint of more than 1,000 offices around the globe.Under the terms of the agreement, Citi will exchange 100 percent of its SmithBarney, Smith Barney Australia and Quilter units for a 49 percent stake in thejoint venture and an upfront cash payment of $2.7 billion. After year three, Morgan Stanley and Citi will havevarious purchase and sale rights for the joint venture, but Citi will continueto own a significant stake in the joint venture at least through year five. 1 Morgan Stanley revenues and pre-tax income for FY08 Citi revenues and pre-taxincome estimated LTM 3Q08. Morgan Stanley and Citi each will distribute their products through what will bethe leading global wealth management platform.

Each organization will retain itsdeposits as of the close of the transaction. New deposits collected in the jointventure will be allocated based on ownership of the new company. The transaction, which has been approved by the Boards of Directors of bothcompanies, is expected to close in the third quarter, subject to regulatoryapprovals and other customary closing conditions. Morgan Stanley Smith Barneywill become the first choice for clients and high-quality financial advisors byoffering an even broader range of financial products and services, as well asthe best market intelligence and investment opportunities from both MorganStanleys and Citi's global networks. At closing, Citi will recognize a pre-tax gain ofapproximately $9.5 billion, or approximately $5.8 billion on an after-tax basis,and will create approximately $6.5 billion of tangible common equity. Once thistransaction is completed, our clients and Financial Advisors will benefit fromthe combined intellectual capital, market intelligence and product capability ofCiti and Morgan Stanley.