WORLD MONITOR TRUST III SERIES J CLASS 1

Unaudited Account Statement

For the Month Ending February 28, 2009

Dear Interest Holder:

Enclosed is the report for the period of February 28, 2009 for World Monitor Trust III Series J Class 1. The net asset value of an interest as of February 28, 2009 was $117.68, a decrease of -0.94% from the January 31, 2009 value of $118.79. The calendar year-to-date return for World Monitor Trust III Series J Class 1 was a decrease of -2.40% as of February 28, 2009.

STATEMENT OF INCOME(LOSS)
Trading Income (Loss)
Realized Trading Gain/(Loss)	$	1,349,176.54
Change in Unrealized Gain/(Loss)	($	1,635,445.61	)
Gain/(Loss) on Other Investments	$	0.00
Brokerage Commission	($	22,599.98	)
Total Trading Income	($	308,869.05	)
Expenses
Audit Fees	$	0.00
Administrative and Legal Fees	$	3,570.59
Management Fees	$	45,494.68
Advisory Fees	$	198,948.16
Offering Fees	$	0.00
Incentive Fees	$	156,200.49
Other Expenses	$	315,303.52
Total Expenses	$	719,517.44
Interest Income	$	2,719.03
Net Income(Loss) from the Period	($	1,025,667.46	)

STATEMENT OF CHANGES IN NET ASSET VALUE (NAV)
	Total			NAV Per Unit
Beginning of Month	$	109,187,224.12		$	118.79
Addition	$	850,734.00
Withdrawal	($	1,429,399.13	)
Net Income/(Loss)	($	1,025,667.46	)
Month End	$	107,582,891.52		$	117.68
Monthly Rate of Return		-0.94	%
Year to Date Rate of Return		-2.40	%

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:

David K. Spohr, Senior Vice 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 February 28, 2009

Dear Interest Holder:

Enclosed is the report for the period of February 28, 2009 for World Monitor Trust III Series J Class 2. The net asset value of an interest as of February 28, 2009 was $120.83, a decrease of -0.78% from the January 31, 2009 value of $121.78. The calendar year-to-date return for World Monitor Trust III Series J Class 2 was a decrease of -2.08% as of February 28, 2009.

STATEMENT OF INCOME(LOSS)
Trading Income (Loss)
Realized Trading Gain/(Loss)	$	190,820.98
Change in Unrealized Gain/(Loss)	($	231,309.48	)
Gain/(Loss) on Other Investments	$	0.00
Brokerage Commission	($	3,196.43	)
Total Trading Income	($	43,684.93	)
Expenses
Audit Fees	$	0.00
Administrative and Legal Fees	$	505.00
Management Fees	$	6,434.55
Advisory Fees	$	28,138.26
Offering Fees	$	0.00
Incentive Fees	$	22,092.24
Other Expenses	$	18,856.81
Total Expenses	$	76,026.86
Interest Income	($	401.74	)
Net Income(Loss) from the Period	($	120,113.53	)

STATEMENT OF CHANGES IN NET ASSET VALUE (NAV)
	Total			NAV Per Unit
Beginning of Month	$	15,442,910.61		$	121.78
Addition	$	0.00
Withdrawal	($	205,483.00	)
Net Income/(Loss)	($	120,113.53	)
Month End	$	15,117,314.07		$	120.83
Monthly Rate of Return		-0.78	%
Year to Date Rate of Return		-2.08	%

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:

David K. Spohr, Senior Vice President

Preferred Investment Solutions Corp., Managing Owner of World Monitor Trust III Series J Class 2