<Page>
Alternative Investment
Strategies
WORLD MONITOR TRUST II--
SERIES D
MONTHLY REPORT/
NOVEMBER 28, 2003
PRUDENTIAL FINANCIAL (LOGO)
<Page>
WORLD MONITOR TRUST II--SERIES D
- -------------------------------------------------------------------------------
Dear Interest Holder:
Enclosed is the report for the period from November 1, 2003 to November 28,
2003 for World Monitor Trust II--Series D ('Series D'). The net asset value of
a unit as of November 28, 2003 was $117.16, an increase of 1.17% from the
October 31, 2003 value of $115.81. The calendar year-to-date return for Series
D was an increase of 25.74% as of November 28, 2003.
The estimated net asset value per interest
as of December 8, 2003 was $117.63. Past performance is not necessarily
indicative of future results.
Should you have any questions, please contact your Wachovia Securities
Financial Advisor. For account status inquiries, contact Prudential
Financial 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 Wachovia 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 November 1, 2003 to
November 28, 2003
Revenues:
Realized gain on commodity
transactions....................... $ 633,678
Change in unrealized commodity
positions.......................... (166,581)
Interest income...................... 18,161
---------
485,258
---------
Expenses:
Commissions.......................... 105,623
Incentive fees....................... 69,662
Management fee....................... 22,257
Other transaction fees............... 3,891
Other expenses....................... 18,682
---------
220,115
---------
Net gain............................. $ 265,143
---------
---------
STATEMENT OF CHANGES IN NET ASSET VALUE
- ---------------------------------------------------
For the period from November 1, 2003 to
November 28, 2003
Per
Total Interest
----------- --------
Net asset value at
beginning of period
(197,651.250
interests)............... $22,889,532 $ 115.81
Net gain................... 265,143
Redemptions................ (90,212)
-----------
Net asset value at end of
period (196,871.293
interests)............... $23,064,463 117.16
-----------
-----------
Change in net asset
value per interest.................... $ 1.35
--------
--------
Percentage change....................... 1.17%
--------
--------
- ------------------------------------------------------
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