<PAGE>
WORLD MONITOR TRUST--
SERIES A
MONTHLY REPORT/
JUNE 25, 1999
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WORLD MONITOR TRUST--SERIES A
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Dear Interest Holder:
Enclosed is the report for the period from May 29, 1999 to June 25, 1999 for
World Monitor Trust--Series A (the 'Trust'). The net asset value of an interest
as of June 25, 1999 was $96.55, a decrease of 3.46% from the May 28, 1999 value
of $100.01. The 1999 calendar year-to-date return for the Trust was a decrease
of 1.79%. Additionally, the return for the quarterly period from March 27, 1999
to June 25, 1999 was a decrease of 5.02%.
Quarterly Market Overview
In the United States, as economic indicators strengthened and the Federal
Reserve Bank announced they would raise interest rates, the U.S. dollar rose
against most major currencies, especially European which were also spurred by
deteriorating confidence in the Euro. Throughout the second quarter, several
issues weighted on world markets including significant price declines in global
long-term interest bonds, the U.S. Federal Reserve's tightening of monetary
policy and an increased supply of corporate debt. Furthermore, as the U.S.
economy generated strength, investors feared possible inflation. U.S. bond
prices fell, followed by European bonds which were depressed by rumors regarding
Italy's retreat from the European Economic Union. Global stock markets recorded
gains over the quarter, supported by solid corporate earnings and improved
economies (especially Asian). In the commodity markets, the energy sector
rallied as OPEC announced production cuts and lower inventories in oil and
gasoline. A consistent tone prevailed in the agricultural and soft commodity
markets as favorable seasonal growing conditions continued to weigh on prices.
Quarterly Trust Performance
The Trust incurred losses in the metal sector due to short positions in silver,
copper, and aluminum. Base metals rallied sharply following announcements that
two major companies would significantly cut copper output. If carried out, the
estimated production cuts would almost eliminate the estimated global copper
supply surplus. Silver experienced extreme volatility throughout the second
quarter, and failed to recognize a trend. Additionally, aluminum rallied in the
beginning of April. However, this bullish market gave back almost 50% of its
March-April profits during the first week in May.
In the index sector, trading in the London Stock Market index resulted in
losses. Global stock markets rallied throughout the quarter supported by
strengthening economies around the world. Consequently, the Trust's short
positions recorded losses.
The currency sector experienced losses for the Trust led by positions in the
Singapore dollar, Japanese yen, and Australian dollar. The Singapore dollar
experienced increased volatility throughout the quarter, failing to materialize
a trend. In Japan, as the economy improved, officials feared a premature
strengthening of the yen may inhibit growth, thus causing the Bank of Japan to
intervene by selling yen. Influenced by Asia's economic recovery, the Australian
dollar began to increase in value; however, as gold prices fell to a record low,
commodity based currencies such as the Australian dollar tumbled as well.
Profits were recorded in the energy sector, mitigating Trust losses. Upward
price movement across oil complex futures contracts was supported by OPEC
production cutbacks and low quarterly inventories for gas and oil products.
The estimated net asset value per interest as of July 29, 1999 was $90.24. 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/ Joseph A. Filicetti
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Joseph A. Filicetti
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 May 29, 1999 to June 25, 1999
<S> <C>
Revenues:
Realized gain on commodity
transactions............................ $ 404,044
Change in unrealized commodity
positions............................... (906,829)
Interest income........................... 61,252
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(441,533)
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Expenses:
Commissions............................... 94,502
Management fee............................ 24,352
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118,854
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Net loss.................................. $(560,387)
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</TABLE>
<TABLE>
<CAPTION>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the period from May 29, 1999 to June 25, 1999
Per
Total Interest
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<S> <C> <C>
Net asset value at beginning of
period (157,216.645
interests).................... $15,723,514 $ 100.01
Additional contributions........ 867,300
Net loss........................ (560,387)
Redemptions..................... (891,956)
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Net asset value at end of
period (156,791.184
interests).................... $15,138,471 96.55
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-----------
Change in net asset
value per interest......................... $ (3.46)
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--------
Percentage change............................ (3.46)%
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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.
by: /s/ Barbara J. Brooks
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Barbara J. Brooks
Chief Financial Officer
