Exhibit 10.08
                                ESCROW AGREEMENT

                                                              September 30, 1994

Chemical Bank
450 W. 33rd Street, 15th Floor
New York, New York  10001

Attn:  Mr. Paul Gilkeson

           Re:  Dean Witter Spectrum Series Escrow Account

Gentlemen:

           In  accordance   with   arrangements   made  by  Demeter   Management
Corporation,  a Delaware corporation (the "General Partner"),  on behalf of Dean
Witter  Spectrum  Balanced  L.P.  ("Spectrum  Balanced"),  Dean Witter  Spectrum
Strategic L.P. ("Spectrum  Strategic"),  and Dean Witter Spectrum Technical L.P.
("Spectrum  Technical"),  each a Delaware  corporation (the  "Partnerships"  or,
individually, a "Partnership"), and Dean Witter Reynolds Inc., the selling agent
for the Partnerships (the "Depositor";  the Partnerships and the Depositor being
herein sometimes collectively referred to as the "Parties" or, individually,  as
a "Party"),  the  Depositor  shall:  (i) deliver to you,  as Escrow  Agent,  all
subscription funds (by the direct transfer of immediately available funds into a
non-interest bearing escrow account established by you for the Partnerships, for
investment  in your  interest  bearing  money  market  account)  received by the
Depositor   from   each   subscriber   ("Subscriber"   or,   collectively,   the
"Subscribers")  during the "Initial  Offering Period" and thereafter  during the
"Continuing Offering" (as described in the Partnerships' Prospectus, as the same
may be updated,  supplemented, and amended from time to time (the "Prospectus"))
in  connection  with the offering to the public of Units of Limited  Partnership
Interest of the  Partnerships  (the "Units") and (ii) also promptly  transmit to
the General Partner a complete report of all funds deposited with you during the
Initial  Offering Period and Continuing  Offering.  You, as Escrow Agent,  shall
hold such  subscription  funds  together with any additions,  substitutions,  or
other  financial  instruments  in which such funds may be  invested or for which
such funds may be exchanged  (collectively referred to herein as the "Fund"), IN
ESCROW upon the  following  terms: 

            1. (a) Following  receipt by you of written  notice from the General
Partner that the General  Partner has rejected a Subscriber's  subscription,  in
whole or in part,  during  either  the  Initial  Offering  Period or  Continuing
Offering, you shall transmit to the Depositor,  as soon as practicable but in no
event later than three  business days  following  receipt by you of such notice,
the  amount  of such  Subscriber's  subscription  funds  that  shall  have  been
deposited  with you hereunder  and that the General  Partner shall have notified
you have been rejected and any interest  earned on the Fund and allocated to the
rejected amount of such  subscription  in accordance with Section 2 hereof.  You
shall at the same time give notice to the  Depositor  of the amount of aggregate
subscription funds and/or interest so returned.

<PAGE>

            (b) On the second  business  day before  the  scheduled  day of each
closing,  the General  Partner  shall notify you of the portion of the Fund that
represents  subscriptions  to be  accepted  by  the  General  Partner  for  each
Partnership.  Upon  receipt  by you of joint  written  notice  from the  General
Partner and the  Depositor  on the date of each such  closing to the effect that
all of the terms and  conditions  with  respect to the  release of  subscription
funds from escrow set forth in the  Prospectus  have been  fulfilled,  you shall
promptly  pay and deliver to each of the  Partnerships  that portion of the Fund
specified  for such  Partnership  in the General  Partner's  prior  instructions
(excluding  any  interest  earned on the Fund and  funds  relating  to  rejected
subscription);  provided,  however,  that in the case of the Initial Closing (as
defined  in  the  Prospectus)  you  will  only  pay  and  deliver  funds  to the
Partnerships  after a minimum of 400,000 Units of each of Spectrum Strategic and
Spectrum  Technical and 200,000 Units of Spectrum  Balanced  (1,000,000 Units in
the aggregate) have been subscribed for in the aggregate and not rejected by the
General Partner and a minimum amount of $10,000,000 has cleared the U.S. banking
system (the subscription for each Unit to be $10.00 at the Partnerships' Initial
Closing and at each subsequent  closing,  if any, at 100% of the net asset value
per Unit as of the close of business on the day of the closing).

            (c)  On  the  date  of  each  closing,  or  as  soon  thereafter  as
practicable, you shall transmit to the Depositor an amount representing: (i) for
each Subscriber whose  subscription  shall be accepted by the General Partner in
whole or in part, any interest  earned on the Fund and allocated to the accepted
portion of such  Subscriber's  subscription in accordance with Section 2 hereof,
and (ii) for each Subscriber whose  subscription shall have been rejected by the
General Partner in whole or in part but whose  subscription funds shall not have
been previously returned to the Depositor by you in accordance with Section 1(a)
hereof, such Subscriber's subscription funds that shall have been deposited with
you hereunder and that shall have been rejected by the General Partner,  and any
interest  earned  on the Fund  and  allocated  to the  rejected  amount  of such
subscription  in  accordance  with Section 2 hereof.  You shall at the same time
give notice to the  Depositor  of the  aggregate  amount of  subscription  funds
and/or interest so returned.

            (d)  Notwithstanding  Section  1(a)  hereof,  upon receipt by you of
written  notice from the General  Partner that a Subscriber has been rejected or
because  such  Subscriber  has  provided  bad funds in the form of a bad  check,
draft,  or otherwise to the  Depositor),  you shall  transmit to the  Depositor,
within three business days following  receipt by you of such notice,  the amount
of subscription  funds deposited with you hereunder relating to that amount (the
portion  of such  Subscriber's  subscription  for which good funds have not been
provided)  together  with any interest  earned on the Fund and allocated to such
portion of such a subscription  in accordance  with Section 2 hereof to the date
of such return,  and shall immediately  notify the General Partner of the return
of such funds.

      2. You shall hold the Fund (including any interest earned thereon) for the
account of the  Partnerships  pending delivery to either the Partnerships or the
Depositor, pursuant to Paragraphs 1 or 3 hereof, as the case may be. On each day
that  subscription  funds  are  transferred  to  you  hereunder  in  immediately
available  funds and receipt is confirmed  before 2:00 P.M., New York City time,
you shall  immediately  invest such  subscription  funds solely in your interest
bearing money market account.  If  subscription  funds are transferred to you in
immediately  available  funds and receipt is confirmed after 2:00 P.M., New York
City time,  you 


                                      -2-
<PAGE>

shall so invest such funds on the next day. Interest earned on the Fund shall be
allocated by the Depositor  among the Subscribers  proportionately  based on (A)
the amount of their respective  subscriptions on deposit in the Fund and (B) the
period of time from the date that their respective subscriptions shall have been
deposited  in the  Fund  to the  earlier  of the  delivery  of the  Fund  to the
Partnerships  at a closing or the Depositor in  accordance  with Sections 1 or 3
hereof, as the case may be.

      3. If, during the Partnerships'  Initial Offering Period, you are notified
in writing  jointly by the Parties  that  subscriptions  for fewer than  400,000
Units of each of Spectrum  Strategic and Spectrum Technical and 200,000 Units of
Spectrum  Balanced  (1,000,000  Units in the aggregate) have been subscribed for
and not  rejected by the General  Partner,  that the  offering of Units has been
terminated,  and that no Initial Closing will be held, you shall transmit to the
Depositor, as soon as practicable but in no event later than three business days
after receipt by you of such notice,  an amount  representing the full amount of
all  subscription  funds  that  shall have been  deposited  with you  hereunder,
together  with any  interest  earned on the Fund in  accordance  with  Section 2
hereof. You shall at the same time give notice to the Depositor of the aggregate
amounts of subscription funds and/or interest so returned.

      4. The Parties further agree with you as follows:

            (a) Your  duties and  responsibilities  shall be  limited  solely to
those expressly set forth in this Agreement and are  ministerial in nature.  You
shall  neither be  subject  to nor  obliged  to  recognize  any other  agreement
between,  or other direction or instruction of, any or all of the Parties or any
Subscriber even though reference thereto may be made herein; provided,  however,
that with your written  consent,  this  Agreement  may be amended at any time or
times by an instrument in writing signed by the Parties.

            (b) You are authorized,  in your sole  discretion,  to disregard any
and all  notices  or  instructions  given by any of the  Parties or by any other
person,  firm, or  corporation,  except only such notices or instructions as are
hereunder provided for and orders or process of any court entered or issued with
or  without  jurisdiction.  If the  Fund  or any  part  thereof  is at any  time
attached,  garnished,  or  levied  upon  under  any  court  order or in case the
payment,  assignment,  transfer,  conveyance,  or  delivery of the Fund shall be
stayed or enjoined by any court order, or in case any order, judgment, or decree
shall be made or entered by any court  affecting  the Fund or any part  thereof,
then and in any such event you are authorized,  in your sole discretion, to rely
upon and comply  with any such  order,  writ,  judgment,  or decree that you are
advised by legal  counsel of your own  choosing is binding  upon you, and if you
comply with any such order, writ, judgment, or decree you shall not be liable to
any of the Parties or to any other  person,  firm, or  corporation  by reason of
such  compliance  even  though  such  order,  writ,  judgment,  or decree may be
subsequently reversed, modified, annulled, set aside, or vacated.

            (c) You shall be fully protected in relying upon any written notice,
demand, certificate, document, or instrument believed by you in good faith to be
genuine and to have been signed or presented by the proper  person or persons or
Party or Parties.  The  Parties  shall  provide you with a list of officers  and
employees who shall be authorized to deliver instructions  hereunder.  You shall
not be liable for any action taken or omitted by you in  connection  herewith in
good faith and in the exercise of your own best judgment.


                                      -3-
<PAGE>

            (d)  Should  any  dispute   arise  with  respect  to  the  delivery,
ownership,  right of possession,  and/or  disposition of the subscription  funds
deposited  with  you  hereunder,  or  should  any  claim  be made  upon any such
subscription funds by a third party, you, upon receipt of written notice of such
dispute by any of the Parties or by a third party,  are  authorized and directed
to retain in your  possession all or any of such  subscription  funds until such
dispute  shall  have been  settled  either by mutual  agreement  of the  parties
involved  or by final  order,  decree,  or  judgment  of any court in the United
States.

            (e) If for any reason  funds are  deposited  in the  escrow  account
other than by transfer of immediately available funds, you shall proceed as soon
as practicable to collect checks, drafts, and other collection items at any time
deposited with you hereunder. All such collections shall be subject to the usual
collection  agreement  regarding  items  received  by  your  commercial  banking
department  for deposit or  collection;  provided,  however,  that if any check,
draft,  or other  collection  item at any time  deposited  with you hereunder is
returned  to you  as  being  uncollectable  (except  by  reasons  of an  account
closing),  you shall attempt a second time to collect such item before returning
such item to the Depositor as uncollectable. Subject to the foregoing, you shall
promptly  notify  the  Parties  of any  uncollectable  check,  draft,  or  other
collection  item  deposited  with you hereunder and shall  promptly  return such
uncollectable  item to the  Depositor,  in which case you shall not be liable to
pay any interest on the  subscription  funds  represented by such  uncollectable
item.  In no event,  however,  shall you be  required or have a duty to take any
legal action to enforce payment of any check or note deposited hereunder.

            (f) You shall not be responsible  for the sufficiency or accuracy of
the form,  execution,  validity,  or  genuineness  of documents now or hereafter
deposited with you hereunder,  or for any lack of endorsement thereon or for any
description  therein,  nor shall you be  responsible or liable in any respect on
account  of the  identity,  authority,  or rights of the  persons  executing  or
delivering or purporting to execute or deliver any such document, or endorsement
or this Agreement. You shall not be liable for any loss sustained as a result of
any investment  made pursuant to the  instructions of the Parties or as a result
of any liquidation of an investment  prior to its maturity or the failure of the
Parties  to give you any  instructions  to  invest or  reinvest  the Fund or any
earnings thereon.

            (g) All notices required or desired to be delivered  hereunder shall
be in  writing  and shall be  effective  when  delivered  personally  on the day
delivered,  or when given by  registered  or certified  mail,  postage  prepaid,
return  receipt  requested,  on the day of receipt,  addressed as follows (or to
such other address as the party entitled to notice shall hereafter  designate in
accordance with the terms hereof):

                if to a Partnership, the Partnerships or the
                General Partner:

                Demeter Management Corporation
                Two World Trade Center, 62nd Floor
                New York, New York  10048
                Attn:Mr. Mark J. Hawley
                     President


                                      -4-
<PAGE>

                if to the Depositor:

                Dean Witter Reynolds Inc.
                Two World Trade Center, 62nd Floor
                New York, New York  10048
                Attn: Mr. Mark J. Hawley
                         Senior Vice-President

                         in either case with a copy to:

                Cadwalader, Wickersham & Taft
                100 Maiden Lane
                New York, New York  10038
                Attn: Edwin L. Lyon, Esq.

                if to you:

                Chemical Bank
                450 W. 33rd Street, 15th Floor
                New York, New York 10001
                Attn: Mr. Paul Gilkeson

Whenever,  under the terms hereof, the time for giving a notice or performing an
act falls on a Saturday,  Sunday, or legal holiday,  such time shall be extended
to the next  business day. 

            (h) The Depositor agrees to indemnify, defend, and hold you harmless
from and against, any and all loss, damage, tax, liability, and expense that may
be incurred by you arising out of or in connection  with your duties  hereunder,
except as caused by your gross  negligence,  bad faith,  or willful  misconduct,
including the legal costs and expenses of defending  yourself  against any claim
or liability in connection with your performance hereunder.


            (i) You shall be paid by the  Depositor  for your  services a fee of
$3,000 in advance  for each Fee Period  (as  defined  below) and such other fees
relating to the  administration of the Fund that shall be agreed upon by you and
the General Partner,  including, but not limited to, a fee for (a) investment of
funds and (b) transmission of funds due to a rejection of a Subscriber  pursuant
to Section 1(d) hereof.  "Fee Period" shall mean each  consecutive  twelve month
period during the term of this  Agreement  with the first such period  beginning
from the date of this Agreement.

            (j) It is  understood  that you may at any time resign  hereunder as
Escrow  Agent by giving  written  notice of your  resignation  to the Parties at
their  address set forth above at least 20 days prior to the date  specified for
such  resignation  to  take  effect,   and  upon  the  effective  date  of  such
resignation,  all property then held by you hereunder  shall be delivered by you
to such person as may be designated jointly by the Parties in writing, whereupon
all your  obligations  hereunder shall cease and terminate.  If you shall resign
prior to the  conclusion  of any Fee  Period you shall pay to the  Depositor  an
amount  equal to the product of $3,000 and a fraction,  the  numerator  of which
shall be the number of days  remaining in the Fee Period and the  denominator of
which shall be 365.  If no  successor  Escrow  Agent has been  appointed  or has


                                      -5-
<PAGE>

accepted such  appointment by such date, all your  obligations  hereunder  shall
nevertheless cease and terminate.  Your sole responsibility  thereafter shall be
to keep safely all property then held by you and to deliver the same to a person
designated by the Parties hereto or in accordance with the directions of a final
order or judgment of a court of competent jurisdiction.

      5. This  Agreement  shall be governed by and construed in accordance  with
the law of the  State of New  York and any  action  brought  hereunder  shall be
brought  in the  courts of the State of New York,  sitting  in the County of New
York.

      6. The undersigned  Escrow Agent hereby  acknowledges  and agrees to hold,
deal with, and dispose of, the Fund  (including any interest earned thereon) and
any other property at any time held by the Escrow Agent  hereunder in accordance
with this Agreement.


                                      -6-
<PAGE>

If the foregoing Agreement is satisfactory to you, please so indicate by signing
at the place provided below.

                               Sincerely,

                               DEAN WITTER SPECTRUM BALANCED L.P.

                               By:  Demeter Management Corporation


                               By: /s/ Mark J. Hawley            
                                   --------------------------------------
                                   Mark J. Hawley
                                   President

                               DEAN WITTER SPECTRUM STRATEGIC L.P.

                               By:  Demeter Management Corporation


                               By: /s/ Mark J. Hawley            
                                   --------------------------------------
                                   Mark J. Hawley
                                   President


                               DEAN WITTER SPECTRUM TECHNICAL L.P.

                               By:  Demeter Management Corporation


                               By: /s/ Mark J. Hawley            
                                   --------------------------------------
                                   Mark J. Hawley
                                   President

                               DEAN WITTER REYNOLDS INC.


                               By: /s/ Mark J. Hawley            
                                   --------------------------------------
                                   Mark J. Hawley
                                   Senior Vice-President
Accepted:

CHEMICAL BANK


By: /s/ P.J. Gilkeson   
-------------------------
    P.J. Gilkeson
    Vice President


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