Abstraet. We modify the standard statistical model for precompound reactions (exciton model) by taking into account the correlations between fluctuating S-matrix elements with different J (total spin) values. This is done in the framework of the statistical approach to nuclear reactions. While angle-integrated cross-sections are not affected by our modification, differential cross-sections become asymmetric about 90 ~ c.m. This asymmetry weakens with time and with increasing complexity of the decaying nuclear system, but need not disappear even for the compound (thermalized) system. We present a comparison with data showing such an asymmetry. PACS: 24.10.Cn; 24.60.Dr In the modern approach to precompound reaction theory, it is customary to distinguish the multistep-direct and the multistep-compound processes [1]. The former yields forward-peaked angular distributions, and the latter cross-sections which are symmetric about 90 ~ c.m. The distinction is based on the difference between a continuum and a bound-state shell-model wave function for the nucleon in intermediate states of the collision process [1][2][3]. While intuitively appealing and quite successful in general, this approach suffers from two shortcomings. First, the transition from one type of reaction to the other is abrupt: Entirely different statistical assumptions are used in the theory [1][2][3] for nucleons in continuum and in bound-state orbitals. In the first case, direct amplitudes dominate the process; in a statistical description [4], such direct reactions imply strong correlations between reaction amplitudes carrying different total spins J and, hence, give asymmetric angular distributions. In the second case, such correlations are from the outset assumed to be absent; this implies symmetry about 90 ~ c.m. A second shortcoming becomes apparent upon inspection of a number of experimental angular distributions of neutrons of low energy < 1-2 MeV (see Figs. 1 and 2 as examples) and sub Coulomb charged particles emitted in nucleoninduced precompound reactions with a few to several tens of MeV incident energy. Although the above-mentioned theories predict these low-energy particles to originate overwhelmingly from the multistep-compound process, a considerable fraction of them (up to 20-30%) displays forward peaking outside of experimental errors reported. This is not consistent with present-day theory.It is the purpose of this work to overcome these difficulties by a suitable modification of the statistical model. Here we briefly present the main sheme of our formulation, the results and simple applications to the analysis of data. The detailed derivations and discussion will be given elsewhere.The main idea is this. We relinquish distinguishing continuum and bound-state orbitals and classify intermediate configurations by their particle-hole numbers (m) only. (In this respect, our approach is a kin to the exciton model [5]). For each class of states with fixed m and J, we introduce the usual statistical assumptions. Spin correlations of S-ma...