WORLD MONITOR TRUST III SERIES J CLASS 1

Unaudited Account Statement

For the Month Ending July 31, 2008

Dear Interest Holder:

Enclosed is the report for the period of July 31, 2008 for World Monitor Trust III Series J Class 1. The net asset value of an interest as of July 31, 2008 was $117.48, a decrease of -4.62% from the June 30, 2008 value of $123.17. The calendar year-to-date return for World Monitor Trust III Series J Class 1 was an increase of +11.45% as of July 31, 2008.

STATEMENT OF INCOME(LOSS)

Trading Income (Loss)
Realized Trading Gain/(Loss)	($	2,321,597.08	)
Change in Unrealized Gain/(Loss)	($	1,856,573.85	)
Gain/(Loss) on Other Investments	$	0.00
Brokerage Commission		($15,559.81	)
Total Trading Income	($	4,193,730.74	)
Expenses
Audit Fees	$	0.00
Administrative and Legal Fees	$	74,931.37
Management Fees	$	42,769.32
Advisory Fees	$	176,153.22
Offering Fees	$	0.00
Incentive Fees	$	51,209.41
Other Expenses	$	293,470.47
Total Expenses	$	638,533.79
Interest Income	$	90,384.48
Net Income(Loss) from the Period	($	4,741,880.05	)

STATEMENT OF CHANGES IN NET ASSET VALUE (NAV)

	Total			NAV Per Unit
Beginning of Month	$	102,646,372.92		$	123.17
Addition	$	3,928,365.72
Withdrawal	($	641,165.41	)
Net Income/(Loss)	($	4,741,880.05	)
Month End	$	101,191,693.19		$	117.48
Monthly Rate of Return		-4.62	%
Year to Date Rate of Return		11.45	%

Should you have any questions, please contact your Financial Advisor. For account status inquiries, contact Preferred Investment Solutions Corp. Client Services at (914)307-4000.

To the best of our knowledge and belief, the information above is accurate and complete:

Kenneth A. Shewer, Chairman	Marc S. Goodman, President

Preferred Investment Solutions Corp., Managing Owner of

World Monitor Trust III Series J Class 1

WORLD MONITOR TRUST III SERIES J CLASS 2

Unaudited Account Statement

For the Month Ending July 31, 2008

Dear Interest Holder:

Enclosed is the report for the period of July 31, 2008 for World Monitor Trust III Series J Class 2. The net asset value of an interest as of July 31, 2008 was $119.23, a decrease of -4.45% from the June 30, 2008 value of $124.79. The calendar year-to-date return for World Monitor Trust III Series J Class 2 was an increase of +12.74% as of July 31, 2008.

STATEMENT OF INCOME(LOSS)

Trading Income (Loss)
Realized Trading Gain/(Loss)	($	361,117.41	)
Change in Unrealized Gain/(Loss)	($	288,784.46	)
Gain/(Loss) on Other Investments	$	0.00
Brokerage Commission	($	2,420.28	)
Total Trading Income	($	652,322.15	)
Expenses
Audit Fees	$	0.00
Administrative and Legal Fees	$	11,655.35
Management Fees	$	6,652.64
Advisory Fees	$	27,400.10
Offering Fees	$	0.00
Incentive Fees	$	7,965.47
Other Expenses	$	19,037.89
Total Expenses	$	72,711.45
Interest Income	$	14,059.03
Net Income(Loss) from the Period	($	710,974.57	)

STATEMENT OF CHANGES IN NET ASSET VALUE (NAV)

	Total			NAV Per Unit
Beginning of Month	$	15,966,333.34		$	124.79
Addition	$	685,000.00
Withdrawal	($	238,411.80	)
Net Income/(Loss)	($	710,974.57	)
Month End	$	15,701,946.97		$	119.23
Monthly Rate of Return		-4.45	%
Year to Date Rate of Return		12.74	%

Should you have any questions, please contact your Financial Advisor. For account status inquiries, contact Preferred Investment Solutions Corp. Client Services at (914)307-4000.

To the best of our knowledge and belief, the information above is accurate and complete:

Kenneth A. Shewer, Chairman	Marc S. Goodman, President

Preferred Investment Solutions Corp., Managing Owner of

World Monitor Trust III Series J Class 2