KRUPP REALTY LIMITED PARTNERSHIP - V
AN IMPORTANT MESSAGE FOR OUR LIMITED PARTNERS
December 30, 1999
Dear Limited Partner:
On December 23, 1999, ERP Operating Partnership, an Illinois limited
partnership, made a third unsolicited tender offer to purchase all of the
limited partnership interests of Krupp Realty Limited Partnership - V. We have
been advised by KR5 Acquisition, L.L.C., a newly formed Delaware limited
liability company and an affiliate of ours, that it is preparing a revised offer
which it expects to deliver to us shortly. Accordingly, we defer making a
determination with respect to the ERP offer. On or before January 6, 2000, we
will advise you of our position with respect to the ERP offer and the KR5 offer.
Prior to such time, we request that you defer making a determination whether to
accept or reject the ERP offer.
Enclosed is a copy of the partnership's amended Statement on Schedule
14D-9 which has been filed with the Securities and Exchange Commission.
Please do not hesitate to call our Investor Communication
representatives at 1-800-255-7877 for assistance in any partnership matter.
Sincerely yours,
/s/ Douglas S. Krupp
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Douglas S. Krupp
The Krupp Corporation,
a General Partner
This document does not constitute a solicitation of proxies or consents from
holders of limited partnership interests. Any such solicitation that may be made
by the partnership will be made only pursuant to separate materials complying
with the requirements of
2
Section 14(a) of the Securities and Exchange Act of 1934, as amended, and the
rules and regulations thereunder.