<PAGE>
WORLD MONITOR TRUST--
SERIES B
MONTHLY REPORT/
SEPTEMBER 25, 1998
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WORLD MONITOR TRUST--SERIES B
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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 B (the 'Trust'). The net asset value of an
interest as of September 25, 1998 was $107.92, an increase of 2.41% from the
August 28, 1998 value of $105.38. The year-to-date return for the Trust, which
commenced trading June 10, 1998, was an increase of 7.92% 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 9.26%.
Trading for the Third Quarter was profitable for the Trust. Gains were achieved
in the financial, currency and index sectors. The metal and energy sectors
incurred losses.
July trading resulted in losses due, in part, to relatively low volatility,
providing little opportunity to trade profitably. During the month, U.S. bond
prices moved slightly lower given the general weakness of the U.S. dollar. This
hurt long U.S. bond positions. European bonds, however, gained by this move
benefiting the Trust's long positions.
August performance was spectacular with profits across all sectors traded.
Escalation of Russia's financial woes and Asia's bleak economic outlook resulted
in a global reassessment of growth prospects and a 'flight to quality'. Around
the world, stock markets fell sharply while bond markets soared, profiting the
Trust's long bond positions. In the index sector, the Trust capitalized on short
Nikkei positions.
In September, gains were experienced primarily in the financial and currency
sectors. The 'flight to quality' initiated in August spilled into September
continuing to benefit the Trust's long European, Japanese and U.S. bond
positions, with Eurodollars and U.S. bonds posting the largest gains. Currency
sector positions in the German deutsche mark, Swiss franc and Canadian dollar
were profitable as the value of the U.S. dollar fell. Exposure to copper and
aluminum in the metal sector was unprofitable as were short positions in natural
gas in the energy sector.
The estimated net asset value per interest as of October 26, 1998 was $110.59.
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............................. $ 481,456
Change in unrealized commodity
positions................................ (216,888)
Interest income............................ 37,398
---------
301,966
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Expenses:
Commissions................................ 50,014
Management fee............................. 13,053
Incentive fee.............................. 40,302
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103,369
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Net gain................................... $ 198,597
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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
period (78,068.533 interests)... $8,226,983 $105.38
Contributions..................... 246,600
Net gain.......................... 198,597
Redemptions....................... (156,595)
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Net asset value at end of
period (78,906.634 interests)... $8,515,585 107.92
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----------
Change in net asset
value per interest.......................... $ 2.54
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-------
Percentage change............................. 2.41%
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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 B is accurate and
complete.
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
/s/ Barbara J. Brooks
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by: Barbara J. Brooks
Treasurer
