WORLD MONITOR TRUST II--
    SERIES E
    MONTHLY REPORT/
    APRIL 27, 2001


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

Enclosed is the report for the period from March 31, 2001 to April 27, 2001 for
World Monitor Trust II--Series E ('Series E'). The net asset value of an
interest as of April 27, 2001 was $118.78, a decrease of 11.04% from the March
30, 2001 value of $133.52. The year-to-date return for Series E was a decrease
of 1.31% as of April 27, 2001.

The estimated net asset value per interest as of May 14, 2001 was $119.95. 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
          -----------------------
          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 March 31, 2001
  to April 27, 2001
Revenues:
Realized loss on commodity
  transactions.......................   $(253,351)
Change in unrealized commodity
  positions..........................    (526,365)
Interest income......................      28,643
                                        ---------
                                         (751,073)
                                        ---------
Expenses:
Commissions..........................      30,115
Management fees......................      10,159
Other transaction fees...............       1,888
Other expenses.......................      (6,515)
                                        ---------
                                           35,647
                                        ---------
Net loss.............................   $(786,720)
                                        ---------
                                        ---------




STATEMENT OF CHANGES IN NET ASSET VALUE
---------------------------------------------------
                                     
For the period from March 31, 2001
  to April 27, 2001
                                             Per
                                Total      Interest
                              ----------   --------
Net asset value at beginning
  of period (51,998.829
  interests)................  $6,942,714   $ 133.52
Contributions...............     554,500
Net loss....................    (786,720)
Redemptions.................    (217,668)
                              ----------
Net asset value at end of
  period (54,662.100
  interests)................  $6,492,826     118.78
                              ----------
                              ----------
                                           --------
Change in net asset value per
  interest..............................   $ (14.74)
                                           --------
                                           --------
Percentage change.......................     (11.04)%
                                           --------
                                           --------

------------------------------------------------------
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