UNITED STATES
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) ~~June~~December 21, 2003

~~MSDW~~MS Structured Asset Corp. (Issuer in Respect of SATURNS Trust No. 2001-1) (Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation) ~~333~~001-~~64879~~16443 (CommissionFile Number) 13-4026700 (IRS EmployerIdentification No.)

1585 Broadway, New York, New York
(Address of principal executive offices)

10036
(Zip Code)

Registrant's telephone number, including area code 212-761-2520

(Former name or former address, if changed since last report.)

Item 5. Other Events and Regulation FD Disclosure.

This current report on Form 8-K relates to the semi annual distribution reported to the holders of SATURNS Trust No. 2001-1, which was made on ~~June~~December 21, 2003.

Item 7. Financial Statements and Exhibits.

99.1 Semi-Annual distribution report pursuant to the Trust Agreement for the distribution on ~~June~~December 21, 2003. (Exhibit No. Description)

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 hereunto duly authorized.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS TRUSTEE UNDER THE TRUST AGREEMENT ON BEHALF OF ~~MSDW~~MS STRUCTURED ASSET CORP., REGISTRANT

Date: ~~June~~December 32, 2003 By: /s/ Russell Goldenberg Russell Goldenberg Group Senior Vice President

Filing Compare · MS STRUCTURED SATURNS SERIES 2001-1