<Page> Alternative Investment Strategies WORLD MONITOR TRUST II-- SERIES D MONTHLY REPORT/ AUGUST 29, 2003 <Page> WORLD MONITOR TRUST II--SERIES D - ------------------------------------------------------------------------------- Dear Interest Holder: Enclosed is the report for the period from July 26, 2003 to August 29, 2003 for World Monitor Trust II--Series D ('Series D'). The net asset value of a unit as of August 29, 2003 was $107.54, an increase of 0.89% from the July 25, 2003 value of $106.59. The calendar year-to-date return for Series D was an increase of 15.42% as of August 29, 2003. The estimated net asset value per interest as of September 22, 2003 was $111.45. Past performance is not necessarily indicative of future results. Should you have any questions, please contact your financial advisor. For account status inquiries, contact Prudential Alternative Investments 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. STATEMENT OF OPERATIONS - ------------------------------------------------- For the period from July 26, 2003 to August 29, 2003 Revenues: Realized gain on commodity transactions...................... $1,029,980 Change in unrealized commodity positions......................... (644,397) Interest income..................... 15,062 ---------- 400,645 ---------- Expenses: Commissions......................... 121,689 Incentive fees...................... 48,729 Management fee...................... 25,388 Other transaction fees.............. 4,232 Other expenses...................... 12,777 ---------- 212,815 ---------- Net gain............................ $ 187,830 ---------- ---------- STATEMENT OF CHANGES IN NET ASSET VALUE - --------------------------------------------------- For the period from July 26, 2003 to August 29, 2003 Per Total Interest ----------- -------- Net asset value at beginning of period (199,206.499 interests)............... $21,233,498 $ 106.59 Contributions.............. 10,000 Net gain................... 187,830 Redemptions................ (88,587) ----------- Net asset value at end of period (198,463.123 interests)............... $21,342,741 107.54 ----------- ----------- -------- Change in net asset value per interest.................... $ 0.95 -------- -------- Percentage change....................... 0.89% -------- -------- - ------------------------------------------------------ I hereby affirm that, to the best of my knowledge and belief, the information contained herein relating to World Monitor Trust II--Series D is accurate and complete. PRUDENTIAL SECURITIES FUTURES MANAGEMENT INC. /s/ Ronald J. Ivans ------------------- by: Ronald J. Ivans Chief Financial Officer