<Page> Alternative Investment Strategies WORLD MONITOR TRUST II-- SERIES F MONTHLY REPORT/ APRIL 26, 2002 (LOGO) <Page> WORLD MONITOR TRUST II--SERIES F - ------------------------------------------------------------------------------- Dear Interest Holder: Enclosed is the report for the period from March 30, 2002 to April 26, 2002 for World Monitor Trust II--Series F ('Series F'). The net asset value of an interest as of April 26, 2002 was $95.41, a decrease of 5.22% from the March 29, 2002 value of $100.67. The calendar year-to-date return for Series F was a decrease of 10.33% as of April 26, 2002. Effective May 2002, Steven Weinreb has been elected by the Board of Directors of Prudential Securities Futures Management Inc. as Chief Financial Officer replacing Barbara Brooks. The estimated net asset value per interest as of May 21, 2002 was $97.92. 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 (212) 778-2443. Sincerely yours, Eleanor L. Thomas President and Director PRUDENTIAL SECURITIES FUTURES MANAGEMENT INC. Please note that the unit 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. STATEMENT OF OPERATIONS - ------------------------------------------------- For the period from March 30, 2002 to April 26, 2002 Revenues: Realized loss on commodity transactions....................... $ (79,499) Change in unrealized commodity positions.......................... (498,708) Interest income...................... 16,144 --------- (562,063) --------- Expenses: Commissions.......................... 54,522 Management fee....................... 18,199 Other transaction fees............... 3,489 Other expenses....................... 8,440 --------- 84,650 --------- Net loss............................. $(646,713) --------- --------- STATEMENT OF CHANGES IN NET ASSET VALUE - -------------------------------------------------- For the period from March 30, 2002 to April 26, 2002 Per Total Interest ----------- ------- Net asset value at beginning of period (121,398.827 interests)............... $12,220,941 $100.67 Contributions.............. 427,698 Net loss................... (646,713) Redemptions................ (72,497) ----------- Net asset value at end of period (125,038.963 interests)............... $11,929,429 95.41 ----------- ----------- ------- Change in net asset value per interest.................... $ (5.26) ------- ------- Percentage change....................... (5.22)% ------- ------- - ------------------------------------------------------ I hereby affirm that, to the best of my knowledge and belief, the information contained herein relating to World Monitor Trust II--Series F is accurate and complete. PRUDENTIAL SECURITIES FUTURES MANAGEMENT INC. by: Steven Weinreb Chief Financial Officer