Exhibit 99
S I D L E Y & A U S T I N
A PARTNERSHIP INCLUDING PROFESSIONAL CORPORATIONS
000 XXXXX XXXXXX
XXXXXXX XXX XXXX, XXX XXXX 00000 WASHINGTON, D.C.
---- TELEHPHONE 000 000 0000 ----
DALLAS FACSIMILE 000 000 0000 LONDON
---- ----
LOS ANGELES SINGAPORE
FOUNDED 1866 ----
TOKYO
WRITER'S DIRECT NUMBER
(000) 000-0000 December 17, 1996
By Telecopy and Federal Express
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Xxxxxx Xxxxxxxx
Securities and Exchange Commission
000 Xxxxx Xxxxxx, X.X.
Mail Stop 7-2
Xxxxxxxxxx, X.X. 00000
Re: Kenmar Global Trust (the "Trust") (File No. 333-8869)
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Dear Xx. Xxxxxxxx:
Further to our telephone conversation of this morning:
1. I hereby confirm that the statement relating to unrelated
business taxable income ("UBTI") set forth in the Registration Statement
under the caption "Federal Income Tax Consequences" constituted the
unqualified opinion of this firm; and
2. Although not explicitly covered by the tax opinion of this firm
filed as Exhibit 8.01 to the Registration Statement, the discussion in the
Registration Statement relating to UBTI was intended to be covered by the
opinion.
Based on the foregoing, we respectfully request effectiveness. The
changes to the disclosure attached to my letter of December 16, 1996 will be
incorporated in the final prospectus and filed under Rule 424(b).
Furthermore, the revised tax opinion attached hereto will be filed
simultaneously by XXXXX.
If we can be of any further assistance, please do not hesitate to
telephone the undersigned at (212/906-2348).
Very truly yours,
/s/ Xxxxxxx X. Xxxxxxxxxxxxx
Xxxxxxx X. Xxxxxxxxxxxxx
