<PAGE>
WORLD MONITOR TRUST--
SERIES A
MONTHLY REPORT/
SEPTEMBER 25, 1998
<PAGE>
WORLD MONITOR TRUST--SERIES A
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Dear Interest Holder:
Enclosed is the report for the period from August 29, 1998 to September 25, 1998
for World Monitor Trust--Series A (the 'Trust'). The net asset value of an
interest as of September 25, 1998 was $102.65, an increase of 1.23% from the
August 28, 1998 value of $101.40. The year-to-date return for the Trust, which
commenced trading June 10, 1998, was an increase of 2.65% as of September 25,
1998. Additionally, the return for the period from June 27, 1998 through
September 25, 1998 (the 'Third Quarter') was an increase of 3.79%.
Third Quarter trading resulted in gains for the Trust. Profitable sectors
included the financial, energy, grain, currency and index sectors. Slightly
offsetting gains were losses in the metal sector.
Characterizing the quarter were rising fears about global financial stability
and the effect a financial meltdown will have on real economic growth. The
Russian default on its sovereign debt and fear of similar risks in Latin America
raised anxiety throughout global financial markets. The resultant
'flight-to-quality' and abrupt widening of credit spreads between highly rated
government bonds and high-yield bonds exacerbated the situation, causing
considerable losses to banks, yield arbitrage and certain money managers and
reduced liquidity in many markets.
The Trust, however, was well positioned for these developments and profits came
primarily from long positions in European and Japanese bonds and short positions
in the Canadian dollar. Volatility in the markets increased considerably and the
Trust closed many of its positions with significant profits, ending the quarter
with limited exposure.
The Trust incurred some losses, particularly in the metal sector. Positions in
base metals lost as aluminum and copper prices failed to find significant
direction. Precious metal exposure also led to losses as both gold and silver
prices reacted to fluctuating fears regarding the world's stock markets.
The estimated net asset value per interest as of October 26, 1998 was $99.41.
Past performance is not necessarily indicative of future results.
Should you have any questions, please contact your Prudential Securities
Financial Advisor. For account status inquiries, contact Prudential Securities
Client Services at 1-800-535-2077.
Sincerely yours,
/s/ Thomas M. Lane, Jr.
-----------------------
Thomas M. Lane, Jr.
President and Director
PRUDENTIAL SECURITIES
FUTURES MANAGEMENT INC.
Please note that the value which appears on your Prudential Securities statement
is an estimated value at calendar month-end. The actual value as of the last
Friday of the month is contained in this report.
<TABLE>
<CAPTION>
STATEMENT OF OPERATIONS
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For the period from August 29, 1998 to
September 25, 1998
<S> <C>
Revenues:
Realized gain on commodity
transactions............................. $ 515,501
Change in unrealized commodity
positions................................ (367,308)
Interest income............................ 41,328
---------
189,521
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Expenses:
Commissions................................ 51,482
Management fee............................. 13,279
Incentive fee.............................. 19,715
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84,476
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Net gain................................... $ 105,045
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</TABLE>
<TABLE>
<CAPTION>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the period from August 29, 1998 to September 25, 1998
Per
Total Interest
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<S> <C> <C>
Net asset value at beginning of
month (83,927.549 interests).... $8,510,417 $101.40
Additional contributions.......... 232,600
Net gain.......................... 105,045
Redemptions....................... (55,555)
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Net asset value at end of
month (85,655.909 interests).... $8,792,507 102.65
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----------
Change in net asset
value per interest.......................... $ 1.25
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Percentage change............................. 1.23%
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</TABLE>
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I hereby affirm that, to the best of my knowledge and belief, the information
contained herein relating to World Monitor Trust--Series A is accurate and
complete.
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
/s/ Barbara J. Brooks
-----------------------
by: Barbara J. Brooks
Treasurer
