UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-D/A

AMENDMENT No. 1 To

ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from

November 15, 2006 to May 15, 2007

Commission File Number of issuing entity: 333-101155-30

MS Structured SATURNS Series 2006-1

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-101155

MS Structured Asset Corp.

(Exact name of depositor as specified in its charter)

MS Structured Asset Corp.

(Exact name of sponsor as specified in its charter)

New York

(State or other jurisdiction of incorporation or organization of the issuing entity)

38-6838719

(I.R.S. Employer Identification No.)

	c/o LaSalle Bank National Association 135 South LaSalle Street Chicago, Illinois		60603
	(Address of principal executive offices of the issuing entity)		(Zip Code)

312-904-7323

(Telephone number, including area code)

N/A

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

Registered/reporting pursuant to (check one)

				Name of exchange
Title of class	Section 12(b)	Section 12(g)	Section 15(d)	(If Section 12(b))
Class A Units	x	o	o	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x No o

SEC 2503 (03-05) Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

PART I - DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information.

The semi-annual distribution report for the period referenced above for the holders of Structured Asset Trust Unit Repackagings (SATURNS) Tribune Company Debenture Backed Series 2006-1 is attached as Exhibit 99.1.

PART II - OTHER INFORMATION

Item 2. Legal Proceedings.

None.

Item 3. Sales of Securities and Use of Proceeds.

None.

Item 4. Defaults Upon Senior Securities.

Contained within Item 1, if any.

Item 5. Submission of Matters to a Vote of Security Holders.

None.

Item 6. Significant Obligors of Pool Assets.

No update to report.

Item 7. Significant Enhancement Provider Information.

No update to report.

Item 8. Other Information.

None.

Item 9. Exhibits.

(b)	99.1 Semi-annual distribution report pursuant to the Trust Agreement for the distribution on May 15, 2007. The date and time stamp on the attached semi-annual distribution report is 14-May-2007 12:59.

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 thereunto duly authorized.

		SATURNS Trust No. 2006-1
		By: MS Structured Asset Corp., as Depositor
Date:	December 3, 2007	/s/ Barbara L. Marik
		Name: Barbara L. Marik
		Title: First Vice President

MS Structured SATURNS Series 2006-1 10-D/A