Alternative Investment
Strategies

WORLD MONITOR TRUST II--
SERIES D
MONTHLY REPORT/

NOVEMBER 28, 2003


PRUDENTIAL FINANCIAL (LOGO)




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