EVEREST
199 S. LOS ROBLES AVE., #200
PASADENA, CA 91101
TEL: 626-585-5920
FAX: 626-585-5929

December 6, 2005

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

         Re:      Offer to Purchase Units for $20,000 Per Unit

Dear Unit Holder:

     We are writing to provide you with  updated  and  supplemental  information
regarding our Offer to Purchase your Units of limited  partnership  interests in
Wilder Richman Historic Properties II, L.P. (the "Partnership"),  dated November
14, 2005.

          o    The General Partner of the Partnership has made no recommendation
               regarding  our Offer.  The Offer price is $9,200  (85%) more than
               the estimated  distributions that Unit Holders would receive from
               a sale  of the  Partnership's  property  at  the  prices  offered
               between 2002 and 2005.

          o    There is no assurance  that anyone will  consider the property to
               have condominium conversion potential,  that high prices for such
               properties  will  continue,  or that the  Partnership's  property
               could obtain a price that would pay Unit Holders the same or more
               than the Offer price.  Therefore,  Unit Holders should make their
               own   decisions   based  on  their   own   personal   views   and
               considerations.

          o    Unit Holders who sell all of their Units will also  eliminate the
               need to file Form K-1 information for the Partnership  with their
               federal tax returns  for years after 2005,  if their  transfer is
               recognized by the end of 2005. The General  Partner has confirmed
               to the Purchasers that it will recognize  transfers  submitted in
               December 2005,  including  submissions by facsimile,  as year-end
               transfers, which will enable the Partnership to issue a final K-1
               to the transferring Unit Holder for their 2005 tax return.

          o    The  Partnership  recently sent to Unit Holders its Annual Report
               on Form 10-K for the fiscal year ended February 29, 2004.

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

     The Offer is scheduled  to expire on December 20, 2005.  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 PROPERTIES II, LLC
                                              DIXON MILL INVESTOR, LLC
                                              MPF PACIFIC GATEWAY, LLC