<Page>

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

(Mark One)

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

For the quarterly period ended  September 30, 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 0-28928

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                      -------------------------------------
                          (Exact Name of Registrant as
                            specified in its charter)

           Delaware                                        13-3887922
-------------------------------                ---------------------------------
(State or other jurisdiction of                (IRS Employer Identification No.)
incorporation or organization)

                       c/o MLIM Alternative Strategies LLC
                           Princeton Corporate Campus
                       800 Scudders Mill Road - Section 2G
                          Plainsboro, New Jersey 08536
                          ----------------------------
                    (Address of principal executive offices)
                                   (Zip Code)

                                  609-282-6996
                ------------------------------------------------
              (Registrant's telephone number, including area code)

     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 X    No
                                             ---     ---

<Page>

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

<Table>
<Caption>
                                                          SEPTEMBER 30,    DECEMBER 31,
                                                              2002             2001
                                                          (UNAUDITED)
                                                         --------------   --------------
<S>                                                      <C>              <C>
ASSETS
Equity in commodity futures trading accounts:
    Cash and options premium                             $  340,865,315   $  248,619,755
    Net unrealized profit on open contracts                  27,818,048       14,955,289
Accrued interest                                                605,106          372,122
                                                         --------------   --------------

            Total assets                                 $  369,288,469   $  263,947,166
                                                         ==============   ==============

LIABILITIES AND PARTNERS' CAPITAL
LIABILITIES:
    Brokerage commissions payable                        $    1,738,090   $    1,236,104
    Profit share payable                                     20,090,778        5,986,222
    Redemptions payable                                       4,992,960        2,523,375
    Administrative fees payable                                  75,569           53,744
    Ongoing offering expense payable                             12,500             --
                                                         --------------   --------------

            Total liabilities                                26,909,897        9,799,445
                                                         --------------   --------------

MINORITY INTEREST                                               233,223          170,731

PARTNERS' CAPITAL:
  General Partner (15,624 and 15,044 Units)                   3,749,828        2,556,954
  Limited Partners (1,409,955 and 1,479,238 Units)          338,395,521      251,420,036
                                                         --------------   --------------

            Total partners' capital                         342,145,349      253,976,990
                                                         --------------   --------------

                TOTAL                                    $  369,288,469   $  263,947,166
                                                         ==============   ==============

NET ASSET VALUE PER UNIT
  (Based on 1,425,579 and 1,494,282 Units outstanding)   $       240.00   $       169.97
                                                         ==============   ==============
</Table>


See notes to consolidated financial statements.


                                       2
<Page>

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (unaudited)

<Table>
<Caption>
                                                 FOR THE THREE      FOR THE THREE       FOR THE NINE       FOR THE NINE
                                                  MONTHS ENDED       MONTHS ENDED       MONTHS ENDED       MONTHS ENDED
                                                  SEPTEMBER 30,      SEPTEMBER 30,      SEPTEMBER 30,      SEPTEMBER 30,
                                                      2002               2001               2002               2001
                                                 ---------------    ---------------    ---------------    ---------------
<S>                                              <C>                <C>                <C>                <C>
REVENUES:
    Trading income (loss):
      Realized                                   $    94,319,676    $     4,866,049    $   120,491,181    $    49,171,867
      Change in unrealized                           (22,453,299)         8,172,627         12,862,558        (36,034,149)
                                                 ---------------    ---------------    ---------------    ---------------

            Total trading results                     71,866,377         13,038,676        133,353,739         13,137,718
                                                 ---------------    ---------------    ---------------    ---------------

     Interest income                                   1,533,008          2,158,462          3,354,794          8,303,850
                                                 ---------------    ---------------    ---------------    ---------------

            Total revenues                            73,399,385         15,197,138        136,708,533         21,441,568
                                                 ---------------    ---------------    ---------------    ---------------

EXPENSES:
    Administrative fees                                  215,463            155,721            534,605            498,890
    Brokerage commissions                              4,955,662          3,581,575         12,295,917         11,474,466
    Ongoing offering expense                              37,500               --               37,500               --
                                                 ---------------    ---------------    ---------------    ---------------

            Total expenses                             5,208,625          3,737,296         12,868,022         11,973,356
                                                 ---------------    ---------------    ---------------    ---------------

    INCOME BEFORE MINORITY
    INTEREST AND PROFIT SHARE
    ALLOCATION                                        68,190,760         11,459,842        123,840,511          9,468,212

    Profit Share Allocation                          (13,882,433)           (57,404)       (20,090,778)        (5,957,085)
    Minority Interest in income                          (37,233)            (7,903)           (70,382)            (2,305)
                                                 ---------------    ---------------    ---------------    ---------------

NET INCOME                                       $    54,271,094    $    11,394,535    $   103,679,351    $     3,508,822
                                                 ===============    ===============    ===============    ===============

NET INCOME PER UNIT:
    Weighted average number of General Partner
        and Limited Partners Units outstanding         1,464,316          1,462,465          1,486,772          1,521,718
                                                 ===============    ===============    ===============    ===============

    Net income per weighted average
     General Partner and Limited Partner Unit    $         37.06    $          7.79    $         69.73    $          2.31
                                                 ===============    ===============    ===============    ===============
</Table>

See notes to consolidated financial statements.


                                       3
<Page>

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

             CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
              For The Nine Months Ended September 30, 2002 And 2001
                                   (unaudited)

<Table>
<Caption>
                                              GENERAL           LIMITED
                            UNITS             PARTNER           PARTNERS            TOTAL
                       ---------------    ---------------   ---------------    ---------------
<S>                    <C>                <C>               <C>                <C>
PARTNERS' CAPITAL,
  December 31, 2000          1,630,261    $     3,219,589   $   279,947,681    $   283,167,270

Additions                       10,895              8,813         1,810,518          1,819,331

Net income                        --               42,537         3,466,285          3,508,822

Redemptions                   (208,432)              --         (36,351,066)       (36,351,066)
                       ---------------    ---------------   ---------------    ---------------

PARTNERS' CAPITAL,
  September 30, 2001         1,432,724    $     3,270,939   $   248,873,418    $   252,144,357
                       ===============    ===============   ===============    ===============

PARTNERS' CAPITAL,
  December 31, 2001          1,494,282    $     2,556,954   $   251,420,036    $   253,976,990

Additions                      132,329            100,924        24,012,884         24,113,808

Net income                        --            1,091,950       102,587,401        103,679,351

Redemptions                   (201,032)              --         (39,624,800)       (39,624,800)
                       ---------------    ---------------   ---------------    ---------------

PARTNERS' CAPITAL,
  September 30, 2002         1,425,579    $     3,749,828   $   338,395,521    $   342,145,349
                       ===============    ===============   ===============    ===============
</Table>

See notes to consolidated financial statements.


                                       4
<Page>

                      ML JWH STRATEGIC ALLOCATION FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (unaudited)

1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     These consolidated financial statements have been prepared without audit.
     In the opinion of management, the consolidated financial statements contain
     all adjustments (consisting of only normal recurring adjustments) necessary
     to present fairly the financial position of ML JWH Strategic Allocation
     Fund L.P (the "Partnership") as of September 30, 2002, and the results of
     its operations for the three and nine months ended September 30, 2002 and
     2001. However, the operating results for the interim periods may not be
     indicative of the results for the full year.

     Certain information and footnote disclosures normally included in annual
     financial statements prepared in conformity with accounting principles
     generally accepted in the United States of America have been omitted. It is
     suggested that these financial statements be read in conjunction with the
     financial statements and notes thereto included in the Partnership's Annual
     Report on Form 10-K filed with the Securities and Exchange Commission for
     the year ended December 31, 2001.

2.   FAIR VALUE AND OFF-BALANCE SHEET RISK

     The nature of this Partnership has certain risks, which can not be
     presented on the financial statements. The following summarizes some of
     those risks.

     MARKET RISK

     Derivative instruments involve varying degrees of off-balance sheet market
     risk. Changes in the level or volatility of interest rates, foreign
     currency exchange rates or the market values of the financial instruments
     or commodities underlying such derivative instruments frequently result in
     changes in the Partnership's net unrealized profit (loss) on such
     derivative instruments as reflected in the Consolidated Statements of
     Financial Condition. The Partnership's exposure to market risk is
     influenced by a number of factors, including the relationships among the
     derivative instruments held by the Partnership as well as the volatility
     and liquidity of the markets in which the derivative instruments are
     traded.

     MLIM Alternative Strategies LLC ("MLIM AS LLC") has procedures in place
     intended to control market risk exposure, although there can be no
     assurance that they will, in fact, succeed in doing so. These procedures
     focus primarily on monitoring the trading of JWH(R), calculating the Net
     Asset Value of the Partnership as of the close of business on each day and
     reviewing outstanding positions for over-concentrations. While MLIM AS LLC
     does not itself intervene in the markets to hedge or diversify the
     Partnership's market exposure, MLIM AS LLC may urge JWH(R) to reallocate
     positions in an attempt to avoid over-concentrations. However, such
     interventions are unusual. Except in cases in which it appears that JWH(R)
     has begun to deviate from past practice or trading policies or to be
     trading erratically, MLIM AS LLC's basic risk control procedures consist
     simply of the ongoing process of advisor monitoring, with the market risk
     controls being applied by JWH(R) itself.

     CREDIT RISK

     The risks associated with exchange-traded contracts are typically perceived
     to be less than those associated with over-the-counter
     (non-exchange-traded) transactions, because exchanges typically (but not
     universally) provide clearinghouse arrangements in which the collective
     credit (in some cases limited in amount, in some


                                       5
<Page>

     cases not) of the members of the exchange is pledged to support the
     financial integrity of the exchange. In over-the-counter transactions, on
     the other hand, traders must rely solely on the credit of their respective
     individual counterparties. Margins, which may be subject to loss in the
     event of a default, are generally required in exchange trading, and
     counterparties may also require margin in the over-the-counter markets.

     The credit risk associated with these instruments from counterparty
     nonperformance is the net unrealized profit on open contracts, if any,
     included in the Consolidated Statements of Financial Condition. The
     Partnership attempts to mitigate this risk by dealing exclusively with
     Merrill Lynch entities as clearing brokers.

     The Partnership, in its normal course of business, enters into various
     contracts, with Merrill Lynch, Pierce, Fenner & Smith Inc. ("MLPF&S")
     acting as its commodity broker. Pursuant to the brokerage agreement with
     MLPF&S (which includes a netting arrangement), to the extent that such
     trading results in receivables from and payables to MLPF&S, these
     receivables and payables are offset and reported as a net receivable or
     payable and included in the Consolidated Statements of Financial Condition
     under Equity in commodity futures trading accounts.

Item 2: Management's Discussion and Analysis of Financial
        Condition and Results of Operations


                       MONTH-END NET ASSET VALUE PER UNIT

<Table>
<Caption>
------------------------------------------------------------------------------------------------------------------------------------
             JAN            FEB           MAR            APR            MAY           JUN            JUL            AUG        SEP
<S>        <C>            <C>           <C>            <C>            <C>           <C>            <C>            <C>        <C>
------------------------------------------------------------------------------------------------------------------------------------
2001       $172.60        $171.38       $190.83        $172.29        $176.63       $168.12        $161.28        $170.97    $175.99
------------------------------------------------------------------------------------------------------------------------------------
2002       $168.42        $162.64       $154.17        $155.57        $168.98       $202.97        $217.66        $226.06    $240.00
------------------------------------------------------------------------------------------------------------------------------------
</Table>

Performance Summary

JANUARY 1, 2002 TO SEPTEMBER 30, 2002

January 1, 2002 to March 31, 2002

Trading in the energy markets was profitable. Trading in natural gas and crude
oil resulted in gains. All markets posted gains in March, as crude and Brent
oil, gas oil, heating oil and unleaded gas produced profits.

Metals trading was moderately profitable. The Japanese government announced that
at the end of March they would no longer guarantee time deposits in excess of
ten million yen. Concerned Japanese citizens purchased physical gold, causing a
rally. Profits were realized in copper, zinc, nickel and silver as industrial
demand in anticipation of a strong global economic recovery pushed prices
higher.

Losses were posted across the board in agricultural commodity trading. Soybean
and sugar combined for the largest losses. The sector was flat by quarter end.

Stock index trading was unprofitable as volatile conditions made it difficult to
generate profits. Losses were realized in the Nikkei, DAX, Eurostoxx and NASDAQ
indices.

The interest rate sector sustained losses throughout the quarter. Optimism
surrounding the Japanese government's proposed anti-deflation measures had a
negative effect on Japanese government bonds. The sector as a whole was
unprofitable, as U.S. and Japanese interest rate contracts were unprofitable.

Significant losses occurred in the currency markets. The U.S. dollar weakened
against major currencies, particularly the Japanese yen. The sector performed
poorly, specifically the U.S. dollar/Japanese yen cross trades,


                                       6
<Page>

as Japanese fiscal year-end considerations made trading extremely volatile.
Positions in Swiss franc, Euro and British pound also turned in negative
performances.

April 1, 2002 to June 30, 2002

Profits resulting from trading in the currency sector provided the Partnership
with an over 33% rate of return (on the total net assets of the Partnership) for
the second quarter. Strong trends developed from a weakening U.S. dollar, which
continued through June. Most of the major currencies made new highs versus the
U.S. dollar in June.

The trading in stock indices found profits from its short positions. Worldwide
equity markets attempted to move higher, but failed and resumed their downtrend.

The interest rate sector was profitable for the Partnership despite its slow
start. The quarter began with a loss as interest rates were particularly
sensitive to economic data that was released, and more so to its varied
interpretations. By quarter end, the Partnership profited from a strong bond
market, which benefited from the weakness in the stock market and unchanged
interest rates.

The metals sector sustained slight losses for the quarter. In June, the uptrend
in gold reversed and losses were sustained on a long position eliminating slight
profits earned earlier in the quarter.

Losses were experienced in the agricultural commodities markets. Positions in
coffee, corn and soybean meal were mostly to blame.

Energy produced losses for the Partnership. Fears of possible supply disruption
abated, stifling a previously strong uptrend. In June, a good crude supply
coupled with tensions in the Middle East provided negative returns for the
month.

July 1, 2002 to September 30, 2002

Economic numbers in the United States suggested that the economy was
stabilizing, however, consumer confidence continued to deteriorate fueling the
bond rallies in the quarter. When the U.S. economy slows down, the rest of the
world also suffers. Economists continue to revise their world growth estimates
for 2003 downward under 4%. Consequently, the interest rate sector was the best
performing sector for the quarter. Interest rate trading represented 30% of the
trading in the Partnership. The sector brought in gross returns of over 20% for
the quarter.

Equity markets were under heavy pressure from poor corporate earnings,
accounting irregularities and a general global economic slowdown. Volatility was
at a high level, keeping bargain hunters from re-entering the markets. All
components of the stock index sector, which represents 13% of the trading in the
Partnership, were up, making this the second most profitable sector for the
quarter.

Volatile energy markets kept profits low in this sector until September when
more distinct profits were produced. Energy represented 17% of the Partnership's
trading. Crude oil continued to climb as possible military conflict in Iraq
looms. Inventories are showing a decline in storage facilities. The level at the
end of the quarter was the lowest since the data started to be collected in
1984. The inventory tightness could be explained by the recent government
stockpiling by the U.S., Japan, China and Europe, counteracting any production
disruption attempt by Iraq. Natural gas was also strong during September as the
hurricane season kicked up in the Gulf of Mexico.

Agriculture commodities provided positive returns. Hot, dry weather conditions
in the U.S., China and South America kept various grains prices up throughout
most of the quarter. As harvest estimates rose late in the quarter, the sector
returned some profits.


                                       7
<Page>

Metals produced losses for the quarter. A choppy market for industrial metals
prevented profits. Precious metals experienced similar choppy conditions. Gold
appears to have been the most popular investment metal, but producers were
hesitant to hedge at current levels and limit their upside potential.

Currencies produced the highest losses for the quarter. Foreign assets were
being sold by international investors and currencies repatriated to their home
country. Global cash balances are high creating a difficult market for the
Partnership in major currencies. Currency trading represents 27% of the
Partnership's trading and brought in losses of more than 6%.

JANUARY 1, 2001 TO SEPTEMBER 30, 2001

January 1, 2001 to March 31, 2001

Interest rate trading was the biggest contributor to the Partnership's overall
profitability during the quarter. The sector realized gains in all global bond
markets traded, primarily Asia. Interest rates declined at year-end and the
market reversed in January. Bonds generally benefited from the weakness in the
equity markets. Gains were realized in short-term interest rates on Central Bank
easing and the massive rally in Japanese government bonds as the Japanese
economy showed signs of sputtering.

Currency trading was profitable during the quarter. Currencies suffered losses
early in the quarter by a weakening in the Euro. The Euro tumbled to two-month
lows against the U.S. dollar in the wake of Turkey's lira currency float. Market
concerns about European bank exposure to Turkish assets pushed the Euro to new
lows. Strength in the U.S. dollar in March led to strong profits in Japanese
yen, Euro, Swiss franc and British pound. Cross-rate trading was also profitable
in March.

Trading in stock indices was profitable despite a slow start to the quarter. The
NASDAQ continued its slide into the new year, reaching a new 52 week low during
February. The Nikkei 225 set a 15-year low during February. Equity indices, in
general, declined sharply in March, leading to profits from short positions.

Agricultural commodities posted gains for the quarter. Corn and sugar were the
primary drivers for poor performance for January. This sector rebounded in March
as solid gains were attributable to sugar, corn and cotton all falling to new
contract lows.

Metals trading was moderately successful. Positions in gold were profitable amid
the Bank of England gold sale, but they failed to offset losses in other metals
traded in January. Gains in copper failed to offset losses in aluminum, nickel
and silver in February. All contracts were slightly profitable in March, leading
to a gain in the overall sector.

Energy trading was the lone sector which sustained losses for the quarter.
Losses were incurred when U.S. oil prices gained more than $2 a barrel on an
OPEC announcement that it would cut production by 1.5 million barrels a day
beginning February 1. OPEC officials made a follow-up announcement that they may
need to act again on concern of a cooling economy may reduce demand for oil
products.


                                       8
<Page>

April 1, 2001 to June 30, 2001

Trading in agricultural commodities was the sole profitable strategy for the
Partnership. Corn and cotton markets were profitable throughout the quarter.
Sugar positions sustained losses early on but rebounded by quarter end.

Energy trading was unprofitable despite posting the first monthly gain for the
sector for the year. Energy contracts in crude oil and heating oil had losses in
April and June. These losses offset the gains realized from natural gas
contracts in May. The gains were attributed to the sharp decline in prices and
from generally weakened markets.

The metals sector suffered losses during the quarter. Losses were incurred in
the gold markets in April and May, but rebounded slightly by June. Base metals
were mixed to flat. Silver and aluminum markets were unprofitable. Copper
trading was slightly profitable in June.

Losses were sustained in currency trading. In April, Pacific rim and European
currencies suffered losses, while slight profits were generated in the Mexican
peso, the Euro/Canadian dollar cross and the Thai baht. European currencies
rebounded in May. The quarter ended with losses in the Japanese yen and crosses
involving the yen.

Trading in stock indices was unprofitable. The sharp decline in stock prices in
April contributed to losses in all markets traded. Across the board market
volatility continued into May. By June, most markets were flat but losses were
sustained in NASDAQ and German DAX trading.

Trading in the interest rates sector was difficult, leading to substantial
losses. British and Japanese interest rate markets was the only profitable
sector. The Eurobond market and the U.S. interest rate complex proved tough to
trade and were the primary reason the sector lost money overall.

July 1, 2001 to September 30, 2001

Stock index trading was the most profitable strategy for the Partnership during
the quarter. Even with the decline in world equity markets, all indices traded
were profitable. Positions in the German DAX and Japanese Nikkei were the most
profitable.

Trading in the interest rate sector was also highly profitable. Strong gains
occurred with the U.S. interest rates and the Eurodollar, offsetting minor
losses in the Asian markets.

Metals trading was profitable. Base metals proved profitable early on but were
negated by losses in gold. Gold trading rebounded in September to erase earlier
losses.

Trading in agricultural commodities fluctuated, leading to losses by quarter
end. Gains in sugar realized in September could not offset earlier losses. Corn,
wheat and soybean oil positions also sustained losses.

Currency trading was unprofitable as small gains in Japanese yen and cross
trades involving the yen were overwhelmed by substantial losses incurred trading
European currencies and their cross trades.

Trading in the energy sector was not profitable. Large losses occurred in crude
oil in September.



Item 3.  Quantitative and Qualitative Disclosure About Market Risk

Not applicable


                                       9
<Page>

Item 4. Controls and Procedures

MLIM Alternative Strategies LLC, the General Partner of ML JWH Strategic
Allocation Fund L.P., with the participation of the General Partner's Chief
Executive Officer and the Chief Financial Officer, has evaluated the
effectiveness of the design and operation of its disclosure controls and
procedures with respect to the Partnership within 90 days of the filing date of
this quarterly report, and, based on their evaluation, have concluded that these
disclosure controls and procedures are effective. Additionally, there were no
significant changes in the Partnership's internal controls or in other factors
that could significantly affect these controls subsequent to the date of their
evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.


                                       10
<Page>

                           PART II - OTHER INFORMATION

Item 1.   Legal Proceedings

          There are no pending proceedings to which the Partnership or MLIM AS
          LLC is a party.

Item 2.   Changes in Securities and Use of Proceeds

          (a) None.
          (b) None.
          (c) None.
          (d) None.

Item 3.   Defaults Upon Senior Securities

          None.

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

          None.

Item 5.   Other Information

          None.

Item 6.   Exhibits and Reports on Form 8-K.

            (a)  Exhibits

            There are no exhibits required to be filed as part of this report.

            (b)  Reports on Form 8-K.

            There were no reports on Form 8-K filed during the first nine
            months of fiscal 2002.


                                       11
<Page>

                                   SIGNATURES


Pursuant to the requirements 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.


                                ML JWH STRATEGIC ALLOCATION FUND L.P.




                                By: MLIM ALTERNATIVE STRATEGIES LLC
                                       (General Partner)




Date: November 14, 2002         By /S/ FABIO P. SAVOLDELLI
                                   -----------------------
                                   Fabio P. Savoldelli
                                   Chairman, Chief Executive Officer and Manager
                                   (Principal Executive Officer)




Date:  November 14, 2002        By /S/ MICHAEL L. PUNGELLO
                                   -----------------------
                                   Michael L. Pungello
                                   Vice President, Chief Financial Officer
                                   and Treasurer
                                   (Principal Financial and Accounting Officer)










                                      12
<Page>

                                   EXHIBIT 99

          FORM OF CERTIFICATION PURSUANT TO SECTION 1350 OF CHAPTER 63
                     OF TITLE 180 OF THE UNITED STATES CODE

I, Fabio P. Savoldelli, certify that:

1. I have reviewed this quarterly report on Form 10-Q of ML JWH Strategic
Allocation Fund L.P.;

2. Based on my knowledge, this quarterly 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 quarterly
report;

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

4. The registrant'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 the registrant and we have:

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

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

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

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
board of directors (or persons performing the equivalent function):

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

6. The registrant's other certifying officers and I have indicated in this
quarterly 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: November 14, 2002

-----------------------
By /S/ FABIO P. SAVOLDELLI
   -----------------------
Fabio P. Savoldelli
Chairman, Chief Executive Officer and Manager
(Principal Executive Officer)


                                       13
<Page>

                                   EXHIBIT 99

          FORM OF CERTIFICATION PURSUANT TO SECTION 1350 OF CHAPTER 63
                     OF TITLE 180 OF THE UNITED STATES CODE

I, Michael L. Pungello, certify that:

1. I have reviewed this quarterly report on Form 10-Q of ML JWH Strategic
Allocation Fund L.P.;

2. Based on my knowledge, this quarterly 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 quarterly
report;

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

4. The registrant'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 the registrant and we have:

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

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

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

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
board of directors (or persons performing the equivalent function):

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

6. The registrant's other certifying officers and I have indicated in this
quarterly 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: November 14, 2002

-----------------------
By /S/ MICHAEL L. PUNGELLO
   -----------------------
Michael L. Pungello
Vice President, Chief Financial Officer
and Treasurer
(Principal Financial and Accounting Officer)


                                       14