Exhibit 10.7

 

     Two American Lane    Tel 203.861.1031

LOGO [g75885image001.jpg]

   P.O. Box 5150    Fax 203.552.1501    Greenwich, Connecticut        
06831-8150        

 

Joseph J. Allessie

          Senior Vice President           General Counsel     

 

September 14, 2004

 

Bridgewater Associates. Inc.

Attn: General Counsel/Secretary

One Glendinning Place

Westport, CT 06880

 

Re: Advisory Agreements for Pru-Securities Strategic Trust, World Monitor Trust
II – Series D, PB International Futures Fund C

 

Please be advised that it is anticipated that as of October 1, 2004, all the
issued and outstanding shares of capital stock of Prudential Securities Futures
Management Inc. (the “Prudential Managing Owners”) of the above stated
Trusts/Fund are owned by Preferred Investment Solutions Corp. f/k/a Kenmar
Advisory Corp. (the “Kenmar Managing Owner”). Therefore, with respect to the
various advisory agreements currently in effect by and between the Trusts/Fund,
the Prudential Managing Owner and you, please be notified that the Kenmar
Managing Owner has assumed the liabilities and obligations of the Prudential
Managing Owner thereunder and will continue to satisfy and perform all
liabilities and obligations thereunder.

 

The Kenmar Managing Owner will continue to operate per the existing advisory
agreements. If this is acceptable, please sign both copies of this Letter
Agreement and return one copy.

 

PREFERRED INVESTMENT SOLUTIONS CORP.

By:

 

/s/ Joseph J. Allessie

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Name:

  Joseph J. Allessie

Title:

  Senior Vice President, General Counsel

ACCEPTED AND AGREED TO:

BRIDGEWATER ASSOCIATES, INC

By:

 

/s/ Peter R. La Tronica

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Name:

  Peter R. La Tronica

Title:

  Bridgewater Associates     Vice President