<Page> Alternative Investment Strategies WORLD MONITOR TRUST-- SERIES C MONTHLY REPORT/ MAY 31, 2002 (LOGO) <Page> WORLD MONITOR TRUST--SERIES C - ------------------------------------------------------------------------------- Dear Interest Holder: Enclosed is the report for the period from April 27, 2002 to May 31, 2002 for World Monitor Trust--Series C ('Series C'). The net asset value of an interest as of May 31, 2002 was $75.30, a decrease of 5.78% from the April 26, 2002 value of $79.92. The calendar year-to-date return for Series C was an increase of 0.84% as of May 31, 2002. The estimated net asset value per interest as of June 17, 2002 was $79.03. 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 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 April 27, 2002 to May 31, 2002 Revenues: Realized loss on commodity transactions....................... $ (68,080) Change in unrealized commodity positions.......................... (210,712) Interest income...................... 12,636 --------- (266,156) --------- Expenses: Commissions.......................... 39,933 Management fee....................... 10,327 --------- 50,260 --------- Net loss............................. $(316,416) --------- --------- STATEMENT OF CHANGES IN NET ASSET VALUE - -------------------------------------------------- For the period from April 27, 2002 to May 31, 2002 Per Total Interest ---------- ------- Net asset value at beginning of period (69,774.777 interests)................ $5,576,612 $ 79.92 Net loss.................... (316,416) Redemptions................. (115,923) ---------- Net asset value at end of period (68,320.870 interests)................ $5,144,273 75.30 ---------- ---------- ------- Change in net asset value per interest.................... $ (4.62) ------- ------- Percentage change....................... (5.78)% ------- ------- - ------------------------------------------------------ I hereby affirm that, to the best of my knowledge and belief, the information contained herein relating to World Monitor Trust--Series C is accurate and complete. PRUDENTIAL SECURITIES FUTURES MANAGEMENT INC. by: Steven Weinreb Chief Financial Officer