Everest Properties
155 N. Lake Ave., #1000
Pasadena, CA 91101
Tel: (626) 585-5920
Fax: (626) 585-5929


January 22, 2004


TO HOLDERS OF UNITS OF
WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

          Re: Offer to Purchase Units for $13,000 Per Unit

Dear Unit Holder:

     Enclosed  is an OFFER TO  PURCHASE  up to 317 Units of limited  partnership
interests in Wilder Richman Historic  Properties II, L.P. (the "Partnership") at
a cash purchase price of $13,000 per Unit, without interest,  less the amount of
distributions  made to you after the date of the Offer. No transfer fees will be
deducted - the Purchaser will pay any such fee.

     Please consider the following points, which are discussed in greater detail
in the accompanying Offer to Purchase:

     o    The Offer is $1,500  per Unit  (13%)  more than the lower  offer  from
          MacKenzie  Patterson  Fuller,  Inc.,  and no  transfer  fees  will  be
          deducted, unlike the lower offer.

     o    The  Offer is,  effectively,  $1,325  per Unit  more than the  maximum
          amount the General Partner estimated would result from a proposed sale
          of the Partnership's  properties,  based on the Partnership's  consent
          solicitation  dated July 1, 2003, and the subsequent  distribution  of
          approximately $1,325 per Unit of cash held by the Partnership.

     o    Approximately  48% of the Unit Holders approved selling the properties
          in 2003 at a price that would have  resulted in less proceeds per Unit
          than our Offer.

     o    The General  Partner  has stated in its last  Quarterly  Report  (Form
          10-Q) that the  Partnership's  properties  need $12 Million in capital
          improvements, according to the operating general partner's preliminary
          capital needs assessment.

     o    The Purchaser  and its  affiliates  would hold 52% of the  outstanding
          Units if the Offer is fully  subscribed,  allowing them to control the
          outcome of any vote of Unit Holders.

     o    The General  Partner has stated that it will establish a due diligence
          review process to allow  interested  parties to make firm proposals to
          purchase the properties,  but the General Partner has not committed to
          any time frame.  The General  Partner has been  claiming it would take
          such steps since at least August 2003.

     We urge you to read the Offer to  Purchase  completely  and to return  your
completed  Agreement of Transfer and Letter of Transmittal  promptly (blue form)
in the envelope provided.

     The Offer is scheduled  to expire on February 20, 2004.  For answers to any
questions you might have regarding  these  materials or our Offer, or assistance
in the  procedures  for  accepting our Offer and  tendering  your Units,  please
contact us at (800) 611-4613 (toll free).

                                           Very truly yours,

                                           EVEREST INVESTORS 14, LLC