Exhibit 10.8

 

     Two American Lane    Tel 203.861.1031      P.O. Box 5150   
Fax 203.552.1501

LOGO [g66038image001.jpg]

   Greenwich, Connecticut         06831-8150        

 

Joseph J. Allessie

        Senior Vice President           General Counsel     

 

September 14, 2004

 

Eclipse Capital Management, Inc.

Attn: General Counsel/Secretary

7700 Bonhomme Avenue, Suite 500

Saint Louis, MO 63105

 

Re: Advisory Agreements for World Monitor Trust – Series B

 

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 Trust 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 Trust, 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

--------------------------------------------------------------------------------

Name:

  Joseph J. Allessie

Title:

  Senior Vice President, General Counsel

ACCEPTED AND AGREED TO:

ECLIPSE CAPITAL MANAGEMENT, INC.

By:

 

/s/ James R. Klingler

--------------------------------------------------------------------------------

Name:

  James R. Klingler

Title:

  Senior Vice President