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                                                                 Exhibit (a)(1)

                       UNITED INVESTORS GROWTH PROPERTIES
                        55 Beattie Place, P.O. Box 2347
                        Greenville, South Carolina 29602

                                  July 2, 1999

Dear Limited Partner:

     We understand that you have received from Bond Purchase LLC, c/o a post
office box in the Midwest, an unregistered offer to purchase up to 811 of the
outstanding limited partnership units at $75 per unit of United Investors
Growth Properties (the "Partnership").

     The Partnership, through its general partner, United Investors Real
Estate, Inc. (the "General Partner"), is required by the rules of the
Securities and Exchange Commission to make a recommendation whether you should
accept or reject such offer, or whether the Partnership is remaining neutral
with respect to such offer. The General Partner is not making any
recommendation with respect to such offer. However, it should be noted that such
offer is at a lower price and for less units than the offer being made by AIMCO
Properties, L.P., which is for 15,930.68 units at $77 per unit. In addition,
you will not pay any fees or commissions if you tender your units to us.

     Please note that the General Partner is an affiliate of AIMCO Properties,
L.P.

         If you have any questions or would like further information about other
possible opportunities to sell your units, please contract River Oaks
Partnership Services, Inc. at (888) 349-2005.

                                              UNITED INVESTORS REAL ESTATE, INC.
                                              General Partner



                                              By: /s/ Patrick J. Foye
                                                 -------------------------------
                                                  Patrick J. Foye
                                                  Executive Vice President



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