<Page>
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-K

(Mark One)

/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
    OF 1934

For the fiscal year ended December 31, 2002

                                       OR

/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

For the transition period from _______________________ to ______________________

Commission file number: 0-25787

                         WORLD MONITOR TRUST--SERIES B
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

Delaware                                   13-3985041
--------------------------------------------------------------------------------
(State or other jurisdiction of            (I.R.S. Employer Identification No.)
incorporation or organization)


One New York Plaza, 13th Floor, New York, New York 10292
--------------------------------------------------------------------------------
(Address of principal executive offices)    (Zip Code)

Registrant's telephone number, including area code: (212) 778-7866

Securities registered pursuant to Section 12(b) of the Act:

                                     None
-------------------------------------------------------------------------------

Securities registered pursuant to Section 12(g) of the Act:

                                Limited Interests
-------------------------------------------------------------------------------
                                 (Title of class)

   Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes CK No __

   Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K [CK]

   Indicate by check mark whether the Registrant is an accelerated filer (as
defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes __ No CK

                      DOCUMENTS INCORPORATED BY REFERENCE

   Registrant's Annual Report to Interest holders for the year ended December
31, 2002 is incorporated by reference into Parts II and IV of this Annual Report
on Form 10-K

                               Index to exhibits can be found on pages 9 and 10.

<Page>
                         WORLD MONITOR TRUST--SERIES B
                          (a Delaware Business Trust)

                               TABLE OF CONTENTS
<Table>
<Caption>
PART I                                                                                         PAGE
<S>        <C>                                                                                <C>
Item  1    Business.........................................................................     3
Item  2    Properties.......................................................................     4
Item  3    Legal Proceedings................................................................     4
Item  4    Submission of Matters to a Vote of Interest Holders..............................     4

PART II
Item  5    Market for the Registrant's Interests and Related Interest Holder Matters........     4
Item  6    Selected Financial Data..........................................................     5
Item  7    Management's Discussion and Analysis of Financial Condition and Results of
             Operations.....................................................................     5
Item 7A    Quantitative and Qualitative Disclosures About Market Risk.......................     5
Item  8    Financial Statements and Supplementary Data......................................     5
Item  9    Changes in and Disagreements with Accountants on Accounting and Financial
             Disclosure.....................................................................     6

PART III
Item 10    Directors and Executive Officers of the Registrant...............................     6
Item 11    Executive Compensation...........................................................     8
Item 12    Security Ownership of Certain Beneficial Owners and Management...................     8
Item 13    Certain Relationships and Related Transactions...................................     8
Item 14    Controls and Procedures..........................................................     8

PART IV
Item 15    Exhibits, Financial Statement Schedules, and Reports on Form 8-K.................     9
           Financial Statements and Financial Statement Schedules...........................     9
           Exhibits.........................................................................     9
           Reports on Form 8-K..............................................................    10

SIGNATURES..................................................................................    11
CERTIFICATIONS..............................................................................    12
</Table>
                                       2

<Page>
                                     PART I

Item 1. Business

General

   World Monitor Trust (the 'Trust') is a business trust organized under the
laws of Delaware on December 17, 1997. The Trust commenced trading operations on
June 10, 1998 and will terminate on December 31, 2047 unless terminated sooner
as provided in the Second Amended and Restated Declaration of Trust and Trust
Agreement (the 'Trust Agreement'). The Trust consists of three separate and
distinct series ('Series'): Series A, B and C. The assets of each Series are
segregated from those of the other Series, separately valued and independently
managed. Each Series was formed to engage in the speculative trading of a
diversified portfolio of futures, forward and options contracts, and may, from
time to time, engage in cash and spot transactions. The trustee of the Trust is
Wilmington Trust Company. The Trust's fiscal year for book and tax purposes ends
on December 31.

   Series B (the 'Registrant') is engaged solely in the business of commodity
futures, forward and options trading; therefore, presentation of industry
segment information is not applicable.

The Offering

   Beneficial interests in each Series ('Interests') were offered once each week
until each Series' subscription maximum was met either through sale or exchange
or until the managing owner of the Registrant, Prudential Securities Futures
Management Inc. (the 'Managing Owner'), suspended the offering of Interests. On
June 10, 1998, a sufficient number of subscriptions for each Series had been
received and accepted by the Managing Owner to permit each Series to commence
trading. The Registrant completed its initial offering with gross proceeds of
$5,709,093 from the sale of 56,330.929 limited interests and 760.000 general
interests. General interests were sold exclusively to the Managing Owner.

   Series A was offered until it achieved its subscription maximum of
$34,000,000 during November 1999. Interests in Series B and Series C were
offered on a weekly basis at the then current net asset value per Interest until
the the Managing Owner suspended the offering of Interests for each Series
('Continuous Offering Period'). The Managing Owner suspended the offering of
Interests in Series B and Series C and allowed all selling registrations to
expire by April 30, 2002. As such, Interests owned in one Series of the Trust
may no longer be exchanged for Interests of one or more other Series. While the
Managing Owner does not anticipate doing so, it may, at its election, reinstate
the offering of Interests in Series B and Series C in the future.

   During the Continuous Offering Period through December 31, 2002, the
Registrant raised additional gross proceeds of $24,385,015 from the sale of
Interests.

Managing Owner and its Affiliates

   The Managing Owner of the Registrant is a wholly owned subsidiary of
Prudential Securities Incorporated ('PSI'), which, in turn, is an indirect
wholly owned subsidiary of Prudential Financial, Inc. ('Prudential'). PSI is the
selling agent for the Registrant, as well as its commodity broker. In February
2003, Prudential and Wachovia Corp. ('Wachovia') announced an agreement to
combine each company's respective retail securities brokerage and clearing
operations within a new firm, which will be headquartered in Richmond, Virginia.
Under the agreement, Prudential will have a 38% ownership interest in the new
firm and Wachovia will own 62%. The transaction, which includes the securities
brokerage, securities clearing, and debt capital markets operations of PSI, but
does not include the equity sales, trading and research operations or commodity
brokerage and derivative operations of PSI, is anticipated to close in the third
quarter of 2003. The Managing Owner, as well as the commodity broker, will
continue to be indirect wholly owned subsidiaries of Prudential.

   The Managing Owner is required to maintain at least a 1% interest in the
capital, profits and losses of each Series so long as it is acting as the
Managing Owner.

The Trading Advisor

   Each Series has its own independent commodity trading advisor that makes that
Series' trading decisions. The Managing Owner, on behalf of the Registrant,
entered into an advisory agreement with Eclipse Capital Management, Inc. (the
'Trading Advisor') to make the trading decisions for the Registrant. The

                                       3

<Page>

advisory agreement may be terminated for various reasons, including at the
discretion of the Managing Owner. The Managing Owner has allocated 100% of the
proceeds from the initial and continuous offering of the Registrant to the
Trading Advisor.

Competition

   The Managing Owner and its affiliates have formed, and may continue to form,
various entities to engage in the speculative trading of futures, forward and
options contracts which have certain of the same investment policies as the
Registrant.

   The Registrant was an open-end fund which solicited the sale of additional
Interests on a weekly basis until the Managing Owner suspended the offering of
Interests. See Item 1, Business, for more information on the suspension of the
offering of Interests. In addition, to the extent that the Trading Advisor
recommends similar or identical trades to the Registrant and other accounts
which it manages, the Registrant may compete with those accounts for the
execution of the same or similar trades, as well as with other market
participants.

Employees

   The Registrant has no employees. Management and administrative services for
the Registrant are performed by the Managing Owner and its affiliates pursuant
to the Trust Agreement as further discussed in Notes A, C and D to the
Registrant's financial statements included in its annual report to limited
owners for the year ended December 31, 2002 (the 'Registrant's 2002 Annual
Report') which is filed as an exhibit hereto.

Item 2. Properties

   The Registrant does not own or lease any property.

Item 3. Legal Proceedings

   There are no material legal proceedings pending by or against the Registrant
or the Managing Owner.

Item 4. Submission of Matters to a Vote of Interest Holders

   None

                                    PART II

Item 5. Market for the Registrant's Interests and Related Interest Holder
        Matters

   Information with respect to the offering of Interests and the use of proceeds
is incorporated by reference to Note A to the Registrant's 2002 Annual Report,
which is filed as an exhibit hereto.

   A significant secondary market for the Interests has not developed, and is
not expected that one will develop in the future. There are also certain
restrictions set forth in the Trust Agreement limiting the ability of an
Interest holder to transfer Interests. However, Interests may be redeemed on a
weekly basis, but are subject to a redemption fee if transacted within one year
of the effective date of purchase. The Managing Owner has suspended the offering
of Interests in the Trust and, as such, Interests owned in one series of the
Trust may no longer be exchanged for Interests of one or more other Series as
further discussed in Item 1, Business. Redemptions are calculated based on the
applicable Series' then current net asset value per Interest as of the close of
business on the Friday immediately preceding the week in which the exchange or
redemption request is effected.

   The Registrant did not sell any unregistered interests (i.e. general
interests) exempt from registration under Section 4(2) of the Securities Act of
1933 during the year ended December 31, 2002.

   There are no material restrictions upon the Registrant's present or future
ability to make distributions in accordance with the provisions of the Trust
Agreement. No distributions have been made since inception and no distributions
are anticipated in the future.

   As of March 21, 2003, there were 792 holders of record owning 75,231.677
Interests which include 888.000 general interests.

                                       4

<Page>

Item 6. Selected Financial Data

   The following table presents selected financial data of the Registrant. This
data should be read in conjunction with the financial statements of the
Registrant and the notes thereto on pages 2 through 10 of the Registrant's 2002
Annual Report which is filed as an exhibit hereto.

<Table>
<Caption>
                                                                                       Period from
                                                                                      June 10, 1998
                                        Year ended December 31,                     (commencement of
                       ---------------------------------------------------------     operations) to
                           2002           2001           2000           1999        December 31, 1998
                       ------------   ------------   ------------   ------------   -------------------
<S>                    <C>            <C>            <C>            <C>            <C>
Total revenues
  (including
  interest)            $ 1,971,561    $  (225,135 )  $ 1,018,696    $ 3,514,395        $ 1,732,093
                       ------------   ------------   ------------   ------------   -------------------
                       ------------   ------------   ------------   ------------   -------------------
Net income (loss)      $ 1,000,866    $(1,535,122 )  $  (950,955 )  $ 1,116,560        $ 1,059,653
                       ------------   ------------   ------------   ------------   -------------------
                       ------------   ------------   ------------   ------------   -------------------
Net income (loss) per
  weighted average
  Interest             $     11.39    $    (13.06 )  $     (5.22 )  $      6.91        $     13.06
                       ------------   ------------   ------------   ------------   -------------------
                       ------------   ------------   ------------   ------------   -------------------
Total assets           $ 9,325,941    $10,734,048    $17,796,383    $26,285,827        $11,558,059
                       ------------   ------------   ------------   ------------   -------------------
                       ------------   ------------   ------------   ------------   -------------------
Net asset value per
  Interest             $    119.35    $    108.57    $    121.87    $    121.63        $    111.98
                       ------------   ------------   ------------   ------------   -------------------
                       ------------   ------------   ------------   ------------   -------------------
</Table>

Item 7. Management's Discussion and Analysis of Financial Condition and Results
        of Operations

   This information is incorporated by reference to pages 12 through 15 of the
Registrant's 2002 Annual Report which is filed as an exhibit hereto.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

   Information regarding quantitative and qualitative disclosures about market
risk is not required pursuant to Item 305(e) of Regulation S-K.

Item 8. Financial Statements and Supplementary Data

   The financial statements are incorporated by reference to pages 2 through 10
of the Registrant's 2002 Annual Report which is filed as an exhibit hereto.

   Selected unaudited quarterly financial data for the years ended December 31,
2002 and 2001 are summarized below:

<Table>
<Caption>
                        For the period from    For the period from    For the period from    For the period from
                          January 1, 2002        March 30, 2002          June 29, 2002       September 28, 2002
                                to                     to                     to                     to
                          March 29, 2002          June 28, 2002       September 27, 2002      December 31, 2002
                        -------------------    -------------------    -------------------    -------------------
<S>                     <C>                    <C>                    <C>                    <C>
Total revenues
  (including
  interest)                  $ (12,245)            $ 1,151,874            $ 1,240,680             $(408,748)
                        -------------------    -------------------    -------------------    -------------------
                        -------------------    -------------------    -------------------    -------------------
Total revenues
  (including
  interest) less
  commissions                $(204,303)            $   961,439            $ 1,038,361             $(595,744)
                        -------------------    -------------------    -------------------    -------------------
                        -------------------    -------------------    -------------------    -------------------
Net income (loss)            $(253,795)            $   912,366            $   986,226             $(643,931)
                        -------------------    -------------------    -------------------    -------------------
                        -------------------    -------------------    -------------------    -------------------
Net income (loss) per
  weighted average
  Interest                   $   (2.65)            $      9.88            $     11.56             $   (8.19)
                        -------------------    -------------------    -------------------    -------------------
                        -------------------    -------------------    -------------------    -------------------
</Table>
                                       5

<Page>

<Table>
<Caption>
                        For the period from    For the period from    For the period from    For the period from
                          January 1, 2001        March 31, 2001          June 30, 2001       September 29, 2001
                                to                     to                     to                     to
                          March 30, 2001          June 29, 2001       September 28, 2001      December 31, 2001
                        -------------------    -------------------    -------------------    -------------------
<S>                     <C>                    <C>                    <C>                    <C>
Total revenues
  (including
  interest)                  $ 611,471             $  (991,791)           $   385,051            $  (229,866)
                        -------------------    -------------------    -------------------    -------------------
                        -------------------    -------------------    -------------------    -------------------
Total revenues
  (including
  interest) less
  commissions                $ 283,339             $(1,249,767)           $   154,451            $  (454,745)
                        -------------------    -------------------    -------------------    -------------------
                        -------------------    -------------------    -------------------    -------------------
Net income (loss)            $ 198,782             $(1,316,240)           $    95,029            $  (512,693)
                        -------------------    -------------------    -------------------    -------------------
                        -------------------    -------------------    -------------------    -------------------
Net income (loss) per
  weighted average
  Interest                   $    1.40             $    (11.04)           $       .87            $     (5.06)
                        -------------------    -------------------    -------------------    -------------------
                        -------------------    -------------------    -------------------    -------------------
</Table>

Item 9. Changes in and Disagreements with Accountants on Accounting and
        Financial Disclosure

   None.

                                    PART III

Item 10. Directors and Executive Officers of the Registrant

   There are no directors or executive officers of the Registrant. The
Registrant is managed by the Managing Owner.

   The Managing Owner's directors and executive officers and any person holding
more than ten percent of the Registrant's Interests ('Ten Percent Owners') are
required to report their initial ownership of such Interests and any subsequent
changes in that ownership to the Securities and Exchange Commission on Forms 3,
4 or 5. Such executive officers, directors and Ten Percent Owners are required
by Securities and Exchange Commission regulations to furnish the Registrant with
copies of all Forms 3, 4 or 5 they file. All of these filing requirements were
satisfied on a timely basis. In making these disclosures, the Registrant has
relied solely on written representations of the Managing Owner's directors and
executive officers and Ten Percent Owners or copies of the reports that they
have filed with the Securities and Exchange Commission during and with respect
to its most recent fiscal year.

   The directors and executive officers of the Managing Owner and their
positions with respect to the Registrant are as follows:

            Name                                      Position
Alex H. Ladouceur               Chairman of the Board of Directors and Director
Eleanor L. Thomas               President and Director
Steven Weinreb                  Treasurer and Chief Financial Officer
Guy S. Scarpaci                 Director
Tamara B. Wright                Senior Vice President and Director
Thomas T. Bales                 Vice President
Paul Waldman                    Secretary

   ALEX H. LADOUCEUR, born 1960, has been Chairman of the Board of Directors and
a Director of the Managing Owner since November 2001 and also has held such
positions with Seaport Futures Management, Inc. ('Seaport Futures'), an
affiliate of the Managing Owner, since such date. Mr. Ladouceur joined PSI in
August 2001 and is an Executive Vice President and Head of the Global
Derivatives Division. He is responsible for all operating activities of PSI's
Global Derivatives Division including sales and trading, foreign exchange, base
and precious metals, and the trading floors. Mr. Ladouceur joined PSI from
Credit Lyonnais
                                       6

<Page>

Rouse Ltd. ('CLR'), where he served as president of their United States
operations since 1992 and as a main board director of CLR in London since 1994.
In 1998, he was appointed managing director of Global Cash Markets at CLR with
responsibility for leading global market-making and sales for OTC products,
including structured derivative products. Mr. Ladouceur earned his bachelor's
degree in Economics from the University of Calgary in Alberta, Canada, and his
master's degree in European Studies from the College of Europe in Bruges,
Belgium.

   ELEANOR L. THOMAS, born 1954, has been a Director and President of the
Managing Owner since September 2000 and was a Director and Executive Vice
President from April 1999 to September 2000. She was a First Vice President of
the Managing Owner and Seaport Futures from October 1998 to April 1999 and a
Director and the President of Seaport Futures since such date. Ms. Thomas is a
Senior Vice President and the Director of Alternative Investment Strategies at
PSI. She is responsible for origination, asset allocation, due diligence,
marketing and sales for the group's product offerings. Prior to joining PSI in
March 1993, she was with MC Baldwin Financial Company from June 1990 through
February 1993 and Arthur Andersen & Co. from 1986 through May 1990. She
graduated Summa Cum Laude from Long Island University with a B.A. in English
Literature, and graduated Baruch College in 1986 with an M.B.A. in Accounting.
Ms. Thomas is a Certified Public Accountant.

   STEVEN WEINREB, born 1962, became the Treasurer and Chief Financial Officer
of the Managing Owner in May 2002, at which time he also became the Treasurer
and Chief Financial Officer of Seaport Futures. He is a Senior Vice President
and Controller of PSI. Prior to joining PSI in May 1991, he was with the public
accounting firms Deloitte & Touche from 1986 to 1991 and from 1984 to 1986 with
Laventhol & Horwath. Mr. Weinreb graduated in 1984 from the State University of
New York at Albany with a B.S. in Accounting. Mr. Weinreb is a Certified Public
Accountant.

   GUY S. SCARPACI, born 1947, has been a Director of the Managing Owner since
July 1987 and was Assistant Treasurer from May 1988 until December 1989. In
addition, Mr. Scarpaci has been a Director of Seaport Futures since May 1989.
Mr. Scarpaci was first affiliated with the Managing Owner in July 1987. Mr.
Scarpaci has been employed by PSI in positions of increasing responsibility
since August 1974, and he is currently a Senior Vice President of the Global
Derivatives division.

   TAMARA B. WRIGHT, born 1959, has been a Senior Vice President of the Managing
Owner and Seaport Futures since October 1998 and a Director of the Managing
Owner since December 1998. She is also a Senior Vice President and the Chief
Administrative Officer for the International Division at PSI. In this capacity,
her responsibilities include financial management, risk management, systems
implementation, employment matters and internal control policies and procedures.
Previously, Mrs. Wright served as Director of Consumer Markets Risk Management,
where she led the Domestic and International Branch efforts in ensuring the
timely resolution of audit, compliance and legal concerns. Prior to joining the
firm, Mrs. Wright was a manager with PricewaterhouseCoopers LLP in its
Management Consulting division in New York, New York.

   THOMAS T. BALES, born 1959, is a Vice President of the Managing Owner. He is
also a Senior Vice President of Futures Administration in the Global Derivatives
division for PSI, and he serves in various capacities for other affiliated
companies. Prior to joining the Global Derivatives division, Mr. Bales served as
in-house counsel in the Law Department of PSI from October 1987 through May
1996. Mr. Bales joined PSI in November 1981 as an Analyst in the Credit Analysis
Department and later served as a Section Manager.

   PAUL WALDMAN, born 1957, became the Secretary of the Managing Owner in
November 2002, at which time he also became the Secretary of Seaport Futures.
Prior to being elected Secretary, Mr. Waldman had served as Assistant Secretary
for both the Managing Owner and Seaport Futures since December 1997. He is a
First Vice President and Associate General Counsel of PSI and its subsidiary
companies. Prior to joining PSI in September 1988, Mr. Waldman worked for E.A.
Sheslow & Co., a specialist firm on the NYSE and American Stock Exchange in
1986, and for F.P. Quinn & Co., a member firm of the Chicago Board Options
Exchange, from 1984 to 1985. Mr. Waldman received a B.A. in Journalism from the
University of Georgia in 1979, an M.A. in Political Science from Boston
University in 1981, and a Juris Doctor from New York Law School in 1992. He is
admitted to the New York and Connecticut bars.

                                       7

<Page>

   Effective May 2002, Steven Weinreb was elected by the Board of Directors of
the Managing Owner as Chief Financial Officer replacing Barbara Brooks.

   Effective November 2002, Paul Waldman was elected by the Board of Directors
of the Managing Owner as Secretary replacing David Buchalter.

   There are no family relationships among any of the foregoing directors or
executive officers. All of the foregoing directors and/or executive officers
have indefinite terms.

Item 11. Executive Compensation

   The Registrant does not pay or accrue any fees, salaries or any other form of
compensation to directors and officers of the Managing Owner for their services.
Certain directors and officers of the Managing Owner receive compensation from
affiliates of the Managing Owner, not from the Registrant, for services
performed for various affiliated entities, which may include services performed
for the Registrant; however, the Managing Owner believes that any compensation
attributable to services performed for the Registrant is immaterial. (See also
Item 13, Certain Relationships and Related Transactions, for information
regarding compensation to the Managing Owner.)

Item 12. Security Ownership of Certain Beneficial Owners and Management

   As of March 21, 2003, no director or executive officer of the Managing Owner
owns directly or beneficially any interest in the voting securities of the
Managing Owner.

   As of March 21, 2003, director or executive officer of the Managing Owner
owns directly or beneficially any of the Interests issued by the Registrant.

   As of March 21, 2003, no owner of limited interests beneficially owns more
than five percent (5%) of the limited interests issued by the Registrant.

Item 13. Certain Relationships and Related Transactions

   The Registrant has and will continue to have certain relationships with the
Managing Owner and its affiliates. However, there have been no direct financial
transactions between the Registrant and the directors or officers of the
Managing Owner.

   Reference is made to Notes A, C and D to the financial statements in the
Registrant's 2002 Annual Report which is filed as an exhibit hereto, which
identify the related parties and discuss the services provided by these parties
and the amounts paid or payable for their services.

Item 14. Controls and Procedures

   Within the 90 days prior to the date of this report, the Managing Owner
carried out an evaluation, under the supervision and with the participation of
the officers of the Managing Owner, including the Managing Owner's Chief
Executive Officer and Chief Financial Officer, of the effectiveness of the
design and operation of the Registrant's disclosure controls and procedures.
Based upon that evaluation, the Managing Owner's Chief Executive Officer and
Chief Financial Officer concluded that the Registrant's disclosure controls and
procedures are effective. There were no significant changes in the Registrant's
internal controls or in other factors that could significantly affect these
controls subsequent to the date of their evaluation.

                                       8

<Page>
                                    PART IV

<Table>
<Caption>
                                                                                         Annual Report
                                                                                          Page Number
                                                                                         --------------

<S>  <C>      <C>                                                                        <C>
Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

(a)      1.   Financial Statements and Report of Independent Accountants--incorporated
              by reference to the Registrant's 2002 Annual Report which is filed as an
              exhibit hereto

              Report of Independent Accountants                                                2

              Financial Statements:

              Statements of Financial Condition--December 31, 2002 and 2001                    3

              Condensed Schedules of Investments at December 31, 2002 and 2001                 4

              Statements of Operations--Three Years ended December 31, 2002                    5

              Statements of Changes in Trust Capital--Three years ended December 31,
              2002                                                                             5

              Notes to Financial Statements                                                    6

         2.   Financial Statement Schedules

              All schedules have been omitted because they are not applicable or the
              required information is included in the financial statements or notes
              thereto.

         3.   Exhibits

              Description:

        3.1   Second Amended and Restated Declaration of Trust and Trust Agreement of
        and   World Monitor Trust dated as of March 17, 1998 (incorporated by
        4.1   reference to Exhibits 3.1 and 4.1 to Registrant's Registration Statement
              on Form S-1, File No. 333-43041, dated as of March 23, 1998)

        4.2   Form of Request for Redemption (incorporated by reference to Exhibit 4.2
              to Registrant's Registration Statement on Form S-1, File No. 333-43041,
              dated as of March 23, 1998)

        4.3   Form of Exchange Request (incorporated by reference to Exhibit 4.3 to
              Registrant's Registration Statement on Form S-1, File No. 333-43041,
              dated as of March 23, 1998)

        4.4   Form of Subscription Agreement (incorporated by reference to Exhibit 4.4
              to Registrant's Registration Statement on Form S-1, File No. 333-43041,
              dated as of March 23, 1998)

       10.1   Form of Escrow Agreement among the Trust, Prudential Securities Futures
              Management Inc., Prudential Securities Incorporated and The Bank of New
              York (incorporated by reference to Exhibit 10.1 to Registrant's
              Registration Statement on Form S-1, File No. 333-43041, dated as of
              March 23, 1998)

       10.2   Form of Brokerage Agreement between the Trust and Prudential Securities
              Incorporated (incorporated by reference to Exhibit 10.2 to Registrant's
              Registration Statement on Form S-1, File No. 333-43041, dated as of
              March 23, 1998)
</Table>
                                       9

<Page>

<Table>
<S>  <C>      <C>                                                                        <C>
       10.3   Form of Advisory Agreement among the Registrant, Prudential Securities
              Futures Management Inc., and the Trading Advisor (incorporated by
              reference to Exhibit 10.3 to Registrant's Registration Statement on Form
              S-1, File No. 333-43041, dated as of March 23, 1998)

       10.4   Form of Representation Agreement Concerning the Registration Statement
              and the Prospectus among the Registrant, Prudential Securities Futures
              Management Inc., Prudential Securities Incorporated, Wilmington Trust
              Company and the Trading Advisor (incorporated by reference to Exhibit
              10.4 to Registrant's Registration Statement on Form S-1, File No.
              333-43041, dated as of March 23, 1998)

       10.5   Form of Net Worth Agreement between Prudential Securities Futures
              Management Inc. and Prudential Securities Group Inc. (incorporated by
              reference to Exhibit 10.5 to Registrant's Registration Statement on Form
              S-1, File No. 333-43041, dated as of March 23, 1998)

       10.6   Form of Foreign Currency Addendum to Brokerage Agreement between the
              Trust and Prudential Securities Incorporated (incorporated by reference
              to Exhibit 10.6 to Registrant's Quarterly Report on Form 10-Q, File No.
              333-43041, for the quarter ended March 31, 1998)

       13.1   Registrant's 2002 Annual Report (with the exception of the information
              and data incorporated by reference in Items 5, 7 and 8 of this Annual
              Report on Form 10-K, no other information or data appearing in the
              Registrant's 2002 Annual Report is to be deemed filed as part of this
              report) (filed herewith)

       99.1   Certificate pursuant to 18 U.S.C. Section 1350 as adopted pursuant to
              Section 906 of the SARBANES-OXLEY Act of 2002 (filed herewith)

(b)           Reports on Form 8-K--None
</Table>
                                       10

<Page>
                                   SIGNATURES

      Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.

World Monitor Trust--Series B

By: Prudential Securities Futures Management Inc.
    A Delaware corporation, Managing Owner

    By: /s/ Steven Weinreb                       Date: March 28, 2003
    ----------------------------------------
    Steven Weinreb
    Treasurer and Chief Financial Officer

   Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
Registrant and in the capacities (with respect to the Managing Owner) and on
the dates indicated.

By: Prudential Securities Futures Management Inc.
    A Delaware corporation, Managing Owner
    By: /s/ Alex H. Ladouceur                     Date: March 28, 2003
    -----------------------------------------
    Alex H. Ladouceur
    Chairman of the Board of Directors and
    Director

    By: /s/ Eleanor L. Thomas                     Date: March 28, 2003
    -----------------------------------------
    Eleanor L. Thomas
    President and Director

    By: /s/ Steven Weinreb                        Date: March 28, 2003
    -----------------------------------------
    Steven Weinreb
    Treasurer and Chief Financial Officer
    (chief accounting officer)

    By: /s/ Guy S. Scarpaci                       Date: March 28, 2003
    -----------------------------------------
    Guy S. Scarpaci
    Director

    By:                                           Date:
    -----------------------------------------
    Tamara B. Wright
    Senior Vice President and Director

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                                 CERTIFICATIONS

I, Eleanor L. Thomas, certify that:

   1.  I have reviewed this annual report on Form 10-K of World Monitor
       Trust--Series B ('Series B');

   2.  Based on my knowledge, this annual report does not contain any untrue
       statement of a material fact or omit to state a material fact necessary
       to make the statements made, in light of the circumstances under which
       such statements were made, not misleading with respect to the period
       covered by this annual report;

   3.  Based on my knowledge, the financial statements, and other financial
       information included in this annual report, fairly present in all
       material respects the financial condition, results of operations and
       cash flows of Series B as of, and for, the periods presented in
       this annual report;

   4.  Series B's other certifying officers and I are responsible for
       establishing and maintaining disclosure controls and procedures (as
       defined in Exchange Act Rules 13a-14 and 15d-14) for Series B and we
       have:

        a)  designed such disclosure controls and procedures to ensure
            that material information relating to Series B, including its
            consolidated subsidiaries, is made known to us by others
            within those entities, particularly during the period in
            which this annual report is being prepared;

        b)  evaluated the effectiveness of Series B's disclosure controls
            and procedures as of a date within 90 days prior to the
            filing date of this annual report (the 'Evaluation Date');
            and

        c)  presented in this annual report our conclusions about the
            effectiveness of the disclosure controls and procedures based
            on our evaluation as of the Evaluation Date;

   5.  Series B's other certifying officers and I have disclosed, based on our
       most recent evaluation, to Series B's auditors and the board of
       directors of the managing owner of Series B:

        a)  all significant deficiencies in the design or operation of
            internal controls which could adversely affect Series B's
            ability to record, process, summarize and report financial
            data and have identified for Series B's auditors any material
            weaknesses in internal controls; and

        b)  any fraud, whether or not material, that involves management
            or other employees who have a significant role in Series B's
            internal controls; and

   6.  Series B's other certifying officers and I have indicated in this annual
       report whether or not there were significant changes in internal
       controls or in other factors that could significantly affect internal
       controls subsequent to the date of our most recent evaluation, including
       any corrective actions with regard to significant deficiencies and
       material weaknesses.

Date:  March 28, 2003                   /s/ Eleanor L. Thomas
                                        -------------------------------------
                                            Eleanor L. Thomas
                                            President (chief executive officer)
                                            of the managing owner of Series B
I, Steven Weinreb, certify that:

   1.  I have reviewed this annual report on Form 10-K of World Monitor
       Trust--Series B ('Series B');

   2.  Based on my knowledge, this annual report does not contain any untrue
       statement of a material fact or omit to state a material fact necessary
       to make the statements made, in light of the circumstances under which
       such statements were made, not misleading with respect to the period
       covered by this annual report;

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   3.  Based on my knowledge, the financial statements, and other financial
       information included in this annual report, fairly present in all
       material respects the financial condition, results of operations and
       cash flows of Series B as of, and for, the periods presented in this
       annual report;

   4.  Series B's other certifying officers and I are responsible for
       establishing and maintaining disclosure controls and procedures (as
       defined in Exchange Act Rules 13a-14 and 15d-14) for Series B and we
       have:

        a)  designed such disclosure controls and procedures to ensure
            that material information relating to Series B, including its
            consolidated subsidiaries, is made known to us by others
            within those entities, particularly during the period in
            which this annual report is being prepared;

        b)  evaluated the effectiveness of Series B's disclosure controls
            and procedures as of a date within 90 days prior to the
            filing date of this annual report (the 'Evaluation Date');
            and

        c)  presented in this annual report our conclusions about the
            effectiveness of the disclosure controls and procedures based
            on our evaluation as of the Evaluation Date;

   5.  Series B's other certifying officers and I have disclosed, based on our
       most recent evaluation, to Series B's auditors and the board of directors
       of the managing owner of Series B:

        a)  all significant deficiencies in the design or operation of
            internal controls which could adversely affect Series B's
            ability to record, process, summarize and report financial
            data and have identified for Series B's auditors any material
            weaknesses in internal controls; and

        b)  any fraud, whether or not material, that involves management
            or other employees who have a significant role in Series B's
            internal controls; and

   6.  Series B's other certifying officers and I have indicated in this annual
       report whether or not there were significant changes in internal controls
       or in other factors that could significantly affect internal controls
       subsequent to the date of our most recent evaluation, including any
       corrective actions with regard to significant deficiencies and material
       weaknesses.

Date:  March 28, 2003                /s/ Steven Weinreb
                                     --------------------------------------
                                         Steven Weinreb
                                         Chief Financial Officer
                                         of the Managing Owner of Series B

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