INCREASED OFFER
                          BY EVEREST INVESTORS 14, LLC
                              TO PURCHASE FOR CASH
                      UP TO 317 OF THE OUTSTANDING UNITS OF
                   WILDER RICHMAN HISTORIC PROPERTIES II L.P.
                           FOR THE INCREASED PRICE OF
                                $13,300 PER UNIT

     Everest Investors 14, LLC ("Everest") is increasing and extending its offer
to purchase your limited  partnership  interests (the "Units") in Wilder Richman
Historic Properties II, L.P. (the "Partnership") for cash less any distributions
made to you by the Partnership after the date of the Offer. Everest will pay all
transfer  fees  charged  by  the  Partnership.   SELLERS  WILL  PAY  NO  SELLING
COMMISSIONS.

     Investors should be aware that:

     a)   Our  increased  offer price remains the highest offer to purchase your
          Units  of which we are  aware  and  effectively  exceeds  the  General
          Partner's 2003 liquidation proposal by at least $1,625.

     b)   Approximately  48% of the Unit Holders  approved the 2003  liquidation
          proposal, according to the General Partner.

     c)   We have waived the "Minimum  Tender  Condition" that said we would not
          purchase  any Units  unless  317  Units  were  tendered  to us. We now
          require no minimum number of Units.  This means it is much more likely
          we will purchase your Units.

     d)   You may have  received  another  offer for your  Units from Dixon Mill
          Investor,  LLC  ("Dixon").  That  offer is for a lower  price,  and is
          subject to two major conditions:

          (1)  Dixon  will not  accept  any  Units if less  than 408  Units  are
               tendered to them; and

          (2)  Dixon will not accept any Units unless limited  partners  holding
               51% of the Units approve a Consent Solicitation that Dixon admits
               will almost  certainly have an adverse effect on Unit Holders who
               do not sell their Units or who retain Units because of proration.

     e)   Because  of the  significant  conditions  in  Dixon's  offer,  Everest
          believes  we are much more  likely than Dixon to accept your Units for
          purchase, AND OUR PRICE IS HIGHER.

     f)   Everest's offer expires on February 27, 2004, before Dixon's offer, so
          Everest  believes  you will be paid by Everest  before  Dixon can even
          decide if it will accept any Units for purchase.

     An  Agreement  of  Transfer  is  enclosed  which you can use to accept  our
increased  offer.  Please  execute  this  document and return it in the enclosed
envelope. Limited partners are urged to read our Offer dated January 22, 2004 in
its entirety.

                Our extended offer will expire February 27, 2004
    IF YOU HAVE ALREADY TENDERED TO EVEREST, DO NOT SEND A NEW AGREEMENT-YOU
                    WILL GET THE HIGHER PRICE AUTOMATICALLY

                              For More Information
                        Please Call or Send Originals to:
                      Everest Properties II, LLC (Manager)
                          155 N. Lake Ave., Suite 1000
                               Pasadena, CA 91101
                     (800) 611-4613 Facsimile (626) 585-5929

                                                                         2/12/04