MS STRUCTURED SATURNS SERIES 2003-13
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The Units issued by the SATURNS trusts listed below representing investors' interest in such trust are represented by one or more physical certificates registered in the name of Cede & Co., the nominee of The Depository Trust Company. The Units are listed on the New York Stock Exchange:  SATURNS Trust No. 2003-13 Class A Units (Credit Suisse First Boston (USA), Inc. Debenture Backed)
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(a) The following documents are filed as part of this Report: None           (b) Reports on Form 8-K:       See Table Below:    SATURNS Trust No.:        Closing Date              Payment Dates              Form 8-K Filing Dates (Not Trust                                                                               Agreement Filings in connection with                                                                                           Closing Date)                                                                                             For FY 2005     2003-13                8/28/03               January 15 and July 15         January 21, 2005 and July 20, 2005            (c) Exhibits:  Exhibit 23        Consent of Pustorino, Puglisi & Co., LLP                  (See Exhibit 99.1--contained in final paragraph of accountants'                   letter) Exhibit 31.1      Rule 13a-14(d) Certification Exhibit 31.2      Trustee Compliance Certification Exhibit 99.1      Report of Pustorino, Puglisi & Co., LLP           (d) Not applicable                                          SIGNATURES           Pursuant to the requirements of Section 13 or 15(d) 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.            Date:  March 29, 2006                                                     MS STRUCTURED ASSET CORP.                                                    (Registrant)                                                       By:       /s/ Madhu Philips                                                    ---------------------------                                                    Name:     Madhu Philips                                                    Title:    Vice President                                                                           Exhibit 23                   [Consent of Pustorino, Puglisi & Co., LLP]                                                                          Exhibit 31.1                                   CERTIFICATION  I, Madhu Philips, certify that:  1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report, of MS Structured Asset Corp. on behalf of SATURNS Trust No. 2003-13;  2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;  3. Based on my knowledge, the distribution or servicing information required to be provided to the depositor by the trustee under the pooling and servicing, or similar, agreement, for inclusion in these reports is included in these reports;  4. I am responsible for reviewing the activities performed by the depositor and the trustee under the pooling and servicing, or similar, agreement and based upon my knowledge and the annual compliance review required under that agreement, and except as disclosed in the reports, the depositor and trustee have each fulfilled its obligations under that agreement; and  5. The reports disclose all significant deficiencies relating to the compliance by the trustee and the depositor with the minimum servicing or similar standards based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedure, as set forth in the pooling and servicing, or similar, agreement, that is included in these reports.  In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: LaSalle Bank National Association and its officers and agents.                                                       By:      /s/ Madhu Philips                                                    ---------------------------                                                    Name:    Madhu Philips                                                    Title:   Vice President                                                    Date:    March 15, 2006                                                                           Exhibit 31.2                             COMPLIANCE CERTIFICATE                    In connection with the preparation and delivery of the annual report on Form 10-K of MS Structured Asset Corp. on behalf of SATURNS Trust No. 2003-13 for the fiscal year ending December 31, 2005, and the certifications given by Madhu Philips with respect thereto, the undersigned hereby certifies that she is a duly elected Vice President of LaSalle Bank National Association and further certifies in her capacity as such as follows:   1. LaSalle Bank National Association has prepared all distribution reports with respect to each distribution date for SATURNS Trust No. 2003-13, and has filed a copy of such reports on Form 8-K during the fiscal year as described on Exhibit A hereto.  2. I have reviewed all reports on Form 8-K containing distribution reports filed in respect of periods included in the fiscal year covered by the annual report of MS Structured Asset Corp. on behalf of SATURNS Trust No. 2003-13;  3. I am familiar with the operations of LaSalle Bank National Association with respect to the SATURNS program and SATURNS Trust No. 2003-13 and the requirement imposed by the applicable trust agreement;  4. Based on my knowledge, the information in the distribution reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by the annual report;  5. Based on my knowledge, the information required to be provided under each trust agreement, for inclusion in these reports, is included in these reports;  6. Based on my knowledge, and except as disclosed in the reports, the trustee has fulfilled its obligations, including any servicing obligations, under the trust agreement.  7. Based on my knowledge, and except as disclosed in the reports, there are no material legal proceedings with respect to any trust, involving the trust or LaSalle Bank National Association as trustee.                                                      By:      /s/ Barbara L. Marik                                                    -----------------------------                                                    Name:    Barbara L. Marik                                                    Title:   First Vice President                                                    Date:    March 22, 2006                                                                           EXHIBIT A    SATURNS Trust No.:        Closing Date              Payment Dates              Form 8-K Filing Dates (Not Trust                                                                               Agreement Filings in connection with                                                                                           Closing Date)                                                                                             For FY 2005     2003-13                8/28/03               January 15 and July 15         January 21, 2005 and July 20, 2005                                                                          Exhibit 99.1                     [Report of Pustorino, Puglisi & Co., LLP]                         [On Pustorino, Puglisi & Co., LLP Letterhead]                            INDEPENDENT ACCOUNTANT'S REPORT                        ON APPLYING AGREED-UPON PROCEDURES    LaSalle Bank National Association 135 S. LaSalle Street, Suite 1625 Chicago, IL 60603  MS Structured Asset Corp. 1585 Broadway New York, NY 10036   With respect to the "Structured Asset Trust Unit Repackagings 2003-13" (SATURNS Trust 2003-13) we have performed the procedures listed below, which were agreed to by LaSalle Bank National Association (the Trustee) and MS Structured Asset Corp. (the Depositor) solely to assist the Depositor in evaluating the Trustee's assertions that the administration of the Trust Property of SATURNS Trust 2003-13 (the Trust) was conducted in accordance with the terms of the Trust Agreement relating thereto for year ended December 31, 2005. This agreed-upon procedures engagement was performed in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of the specified users of this report, the Trustee and the Depositor. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose.  Pursuant to the foregoing, for SATURNS TRUST 2003-13, we:  1.       Calculated the semi-annual interest payment on the underlying security          as defined in the prospectus.  2.       Verified that interest payments on the underlying security were          received on the scheduled date for payment thereof.  3.       Calculated the semi-annual interest distributions and principal          distributions, if any, on the Class A and B units.                                             -2-  4.       Verified that distributions on Class A and B units were made on the          scheduled dates for distribution thereof.  5.       Verified Trust property amounts and balances.  6.       Verified that the amounts of any units redeemed, upon receipt of          redemption payments or notices of exercise of warrants, matched amounts          of the relevant redemptions and warrant exercise amounts notified to          the Trustee.  7.       Verified that the proceeds of redemptions, exercise of warrants and          liquidation of underlying securities following any underlying security          default were applied within the time and in the manner provided in the          Trust Agreement.  8.       Verified that reports on Form 8-K were filed by the Trustee with the          Securities and Exchange Commission on or before the fifteenth day          following each payment date for the Class A units.  We were not engaged to, and did not, perform an examination, the objective of which would be the expression of an opinion on the Trustee's assertions. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.  We are independent public accountants with respect to the Trustee and the Trust, as defined under the Code of Professional Ethics of the American Institute of Certified Public Accountants.  This report is intended solely for the use of the Depositor and the Trustee and should not be used by those who have not agreed to the procedures and taken responsibility for the sufficiency of the procedures for their purposes. However, this report is a matter of public record as a result of being included as an exhibit to the annual report on Form 10-K prepared by MS Structured Asset Corp. and filed with the Securities and Exchange Commission on behalf of SATURNS Trust 2003-13, and its distribution is not limited.   /s/ Pustorino, Puglisi & Co., LLP - -------------------------------------- Pustorino, Puglisi & Co., LLP New York, New York March 1, 2006                                  [On MS Structured Asset Corp. Letterhead]    March 13, 2006   Pustorino, Puglisi & Co., LLP 515 Madison Avenue New York, NY 10022  Gentlemen:  In connection with your engagement to apply the agreed-upon procedures, as listed in your engagement letters dated January 26, 2006 and your reports dated March 1, 2006, for the Trusts listed below:                SATURNS 2003-11                                     SATURNS 2004-1            SATURNS 2003-12                                     SATURNS 2004-2            SATURNS 2003-13                                     SATURNS 2004-4            SATURNS 2003-15                                     SATURNS 2004-5            SATURNS 2003-16                                     SATURNS 2004-6            SATURNS CBT Series 2003-1                           SATURNS 2005-1   We confirm, to the best of our knowledge and belief, the following representations made to you during your engagement:  1.       We are responsible for the formulation of the assertion that the          administration of the Trusts listed above was conducted in accordance          with the terms of the individual Trust Agreements relating thereto for          the year ended December 31, 2005.  2.       There have been no fraudulent or other illegal acts that would have a          material effect on the assertion.  3.       We have disclosed to you all known matters contradicting the assertion.  4.       There have been no communications from internal auditors and other          independent practitioners or consultants relating to the assertions          including communications received between December 31, 2005 and the          date of this letter.                                             -2-  5.       We have made available to you all information that we believe is          relevant to the assertion.  6.       We have responded fully to all inquiries made to us by you during the          engagement.  7.       No events have occurred  subsequent to December 31, 2005 that would          require  adjustment to or  modification of the          assertions.  8.       Your report is intended solely for the use of LaSalle Bank National          Association (the Trustee) and MS Structured Asset Corp. (the Depositor)          and should not be used by those who have not agreed to the procedures          and taken responsibility for the sufficiency of the procedures for          their purposes. We intend for the applicable reports to be a matter of          public record as a result of their being included as an exhibit to the          annual report on Form 10-K prepared by MS Structured Assets Corp. and          filed with the Securities and Exchange Commission on behalf of the          corresponding trusts.    /s/ Madhu Philips - --------------------------- Signature   Authorized Signatory - --------------------------- Title   March 13, 2006 - --------------------------- Date                      [On LaSalle Bank, National Association Letterhead]    March 6, 2006    Pustorino, Puglisi & Co., LLP 515 Madison Avenue New York, NY 10022  Gentlemen:  In connection with your engagement to apply the agreed-upon procedures, as listed in your engagement letters dated January 26, 2006 and your reports dated March 1, 2006, for the Trusts listed below:                SATURNS 2003-11                                     SATURNS 2004-1            SATURNS 2003-12                                     SATURNS 2004-2            SATURNS 2003-13                                     SATURNS 2004-4            SATURNS 2003-15                                     SATURNS 2004-5            SATURNS 2003-16                                     SATURNS 2004-6            SATURNS CBT Series 2003-1                           SATURNS 2005-1   We confirm, to the best of our knowledge and belief, the following representations made to you during your engagement:  1.       We are responsible for the formulation of the assertion that the          administration of the Trusts listed above was conducted in accordance          with the terms of the individual Trust Agreements relating thereto for          the year ended December 31, 2005.  2.       There have been no fraudulent or other illegal acts that would have a          material effect on the assertion.  3.       We have disclosed to you all known matters contradicting the assertion.                                             -2-  4.       There have been no communications from internal auditors and other          independent practitioners or consultants relating to the assertions          including communications received between December 31, 2005 and the          date of this letter.  5.       We have made available to you all information that we believe is          relevant to the assertion.  6.       We have responded fully to all inquiries made to us by you during the          engagement.  7.       No events have occurred  subsequent to December 31, 2005 that would          require  adjustment to or  modification of the          assertions.  8.       Your report is intended solely for the use of LaSalle Bank National          Association (the Trustee) and MS Structured Asset Corp. (the Depositor)          and should not be used by those who have not agreed to the procedures          and taken responsibility for the sufficiency of the procedures for          their purposes. We intend for the applicable reports to be a matter of          public record as a result of their being included as an exhibit to the          annual report on Form 10-K prepared by MS Structured Assets Corp. and          filed with the Securities and Exchange Commission on behalf of the          corresponding trusts.     /s/ Andy Streepey - --------------------------- Signature   Assistant Vice President - --------------------------- Title   March 6, 2006 - --------------------------- Date    -----END PRIVACY-ENHANCED MESSAGE-----