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Alternative Investment
Strategies
WORLD MONITOR TRUST II--
SERIES F
MONTHLY REPORT/
MAY 30, 2003
PRUDENTIAL FINANCIAL (LOGO)
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WORLD MONITOR TRUST II--SERIES F
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Dear Interest Holder:
Enclosed is the report for the period from April 26, 2003 to May 30, 2003 for
World Monitor Trust II--Series F ('Series F'). The net asset value of an
interest as of May 30, 2003 was $136.68, an increase of 3.45% from the April 26,
2003 value of $132.12. The calendar year-to-date return for Series F was an
increase of 15.09% as of May 30, 2003.
The estimated net asset value per interest as of June 16, 2003 was $140.43. 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...................... $2,244,014
Change in unrealized commodity
positions......................... (274,301)
Interest income..................... 37,221
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2,006,934
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Expenses:
Incentive fee....................... 360,709
Commissions......................... 227,010
Management fee...................... 76,473
Other expenses...................... 13,422
Other transaction fees.............. 13,222
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690,836
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Net gain............................ $1,316,098
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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
(279,013.037
interests)............... $36,862,323 $ 132.12
Contributions.............. 3,043,149
Net gain................... 1,316,098
Redemptions................ (249,911)
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Net asset value at end of
period (299,767.945
interests)............... $40,971,659 136.68
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Change in net asset
value per interest.................... $ 4.56
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Percentage change....................... 3.45%
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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 F is accurate and
complete.
PRUDENTIAL SECURITIES FUTURES
MANAGEMENT INC.
/s/ Ronald J. Ivans
by: Ronald J. Ivans
Chief Financial Officer