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Alternative Investment
Strategies
WORLD MONITOR TRUST II--
SERIES E
MONTHLY REPORT/
MAY 30, 2003
PRUDENTIAL FINANCIAL (LOGO)
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WORLD MONITOR TRUST II--SERIES E
- --------------------------------------------------------------------------------
Dear Interest Holder:
Enclosed is the report for the period from April 26, 2003 to May 30, 2003 for
World Monitor Trust II--Series E ('Series E'). The net asset value of an
interest as of May 30, 2003 was $181.51, an increase of 8.42% from the April 25,
2003 value of $167.42. The calendar year-to-date return for Series E was an
increase of 14.60% as of May 30, 2003.
The estimated net asset value per interest as of June 16, 2003 was $187.86. 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,
/s/ Eleanor L. Thomas
---------------------
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.
<Table>
<Caption>
STATEMENT OF OPERATIONS
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For the period from April 26, 2003
to May 30, 2003
Revenues:
Realized gain on commodity
transactions...................... $2,921,252
Change in unrealized commodity
positions......................... 2,410,558
Interest income..................... 47,367
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5,379,177
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Expenses:
Commissions......................... 282,094
Incentive fees...................... 1,066,423
Management fees..................... 94,667
Other transaction fees.............. 14,929
Other expenses...................... 13,795
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1,471,908
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Net gain............................ $3,907,269
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----------
</Table>
<Table>
<Caption>
STATEMENT OF CHANGES IN NET ASSET VALUE
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For the period from April 26, 2003
to May 30, 2003
<Caption>
Per
Total Interest
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Net asset value at
beginning of period
(265,542.547
interests)............... $44,456,681 $ 167.42
Contributions.............. 3,990,900
Net gain................... 3,907,269
Redemptions................ (353,723)
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Net asset value at end of
period (286,494.643
interests)............... $52,001,127 181.51
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-----------
Change in net asset value per
interest.............................. $ 14.09
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--------
Percentage change....................... 8.42%
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I hereby affirm that, to the best of my knowledge and belief, the information
contained herein relating to World Monitor Trust II--Series E is accurate and
complete.
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
/s/ Ronald J. Ivans
--------------------
by: Ronald J. Ivans
Chief Financial Officer