MS STRUCTURED SATURNS SERIES 2003-8
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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. These Units are listed on the New York Stock Exchange:  SATURNS Trust No. 2003-8 Class A Units (The Hertz Corporation 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      2003-8                 5/28/03               June 1 and December 1          June 6, 2005 and December 6, 2005            (c) Exhibits:  Exhibit 31.1      Rule 13a-14(d) Certification Exhibit 31.2      Trustee Compliance Certification  The trust covered by this annual report was formed prior to June 30, 2003 and there is no requirement in the trust agreement for the preparation of a report by an independent public accountant regarding the trustee's compliance with its obligations.           (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 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. 2003-8;  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; and  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.  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 STATEMENT                    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. 2003-8 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. 2003-8, 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. 2003-8;  3. I am familiar with the operations of LaSalle Bank National Association with respect to the SATURNS program and SATURNS Trust No. 2003-8 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      2003-8                 5/28/03               June 1 and December 1          June 6, 2005 and December 6, 2005     -----END PRIVACY-ENHANCED MESSAGE-----