Exhibit 12 [Clifford Chance US LLP Letterhead] June 15, 2006 Morgan Stanley Growth Fund 1221 Avenue of the Americas New York, NY 10020 Morgan Stanley American Opportunities Fund 1221 Avenue of the Americas New York, NY 10020 Re: Agreement and Plan of...Agreement and Plan of Reorganization • June 16th, 2006 • Morgan Stanley American Opportunities Fund
