WORLD MONITOR TRUST II--
    SERIES E
    MONTHLY REPORT/
    FEBRUARY 23, 2001


         WORLD MONITOR TRUST II--SERIES E
- --------------------------------------------------------------------------------
Dear Interest Holder:

Enclosed is the report for the period from January 27, 2001 to February 23, 2001
for World Monitor Trust II--Series E ('Series E'). The net asset value of an
interest as of February 23, 2001 was $117.45, an increase of .32% from the
January 26, 2001 value of $117.07. The year-to-date return for Series E was a
decrease of 2.42% as of February 23, 2001.

The estimated net asset value per interest as of March 14, 2001 was $125.75.
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 1-800-535-2077.

          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 January 27, 2001
  to February 23, 2001
Revenues:
Realized loss on commodity
  transactions......................   $  (93,705)
Change in unrealized commodity
  positions.........................      138,891
Interest income.....................       19,324
                                       ----------
                                           64,510
                                       ----------
Expenses:
Commissions.........................       27,856
Management fees.....................        9,277
Other transaction fees..............        1,630
Other expenses......................        6,978
                                       ----------
                                           45,741
                                       ----------
Net gain............................   $   18,769
                                       ----------
                                       ----------



STATEMENT OF CHANGES IN NET ASSET VALUE
- ---------------------------------------------------
For the period from January 27, 2001
  to February 23, 2001


                                             Per
                                Total      Interest
                              ----------   --------
                                     
Net asset value at beginning
  of period (50,582.362
  interests)................  $5,921,731   $ 117.07
Contributions...............      58,800
Net gain....................      18,769
Redemptions.................     (59,386)
                              ----------
Net asset value at end of
  period (50,576.035
  interests)................  $5,939,914     117.45
                              ----------
                              ----------
                                           --------
Change in net asset value per
  interest..............................   $    .38
                                           --------
                                           --------
Percentage change.......................        .32%
                                           --------
                                           --------


- ------------------------------------------------------
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/ Barbara J. Brooks
                ---------------------------
                by: Barbara J. Brooks
               Chief Financial Officer