Millenium
155 N. Lake Ave., #1000
Pasadena, CA 91101
Phone: 626-585-5920
Fax: 626-585-5929



June 3, 2003


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

         Re:      Offer to Purchase Units for $9,200 Per Unit

Dear Unit Holder:

     Enclosed  is an OFFER TO  PURCHASE  up to 80 Units of  limited  partnership
interests in Wilder Richman Historic  Properties II, L.P. (the "Partnership") at
a cash purchase price of $9,200 per Original Unit,  without  interest,  less the
amount of distributions made to you after the date of the Offer.

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

     o    The  General  Partner  filed on May 2,  2003,  a  preliminary  consent
          solicitation  statement with the  Securities  and Exchange  Commission
          ("Preliminary  Solicitation") asking limited partners to authorize the
          sale of the Partnership's  properties for any amount that results in a
          distribution  of cash to the limited  partners of at least  $9,000 per
          Unit. The consent  solicitation  has not yet been finalized,  so it is
          uncertain if or when it would be distributed.

     o    Our Offer gives you the opportunity to receive $9,200 per Unit in CASH
          without waiting for a limited partner vote, if solicited,  and without
          waiting for an uncertain transaction.

     o    $9,200 per Unit is $200 per Unit more than the  Minimum  Price  amount
          that we believe would be distributed if the proposal  described in the
          Preliminary  Solicitation were approved by the limited  partners.  The
          General  Partner has indicated that the operating  General Partner may
          exercise  an option to  acquire  all  Units for  $9,000  per Unit (the
          "Minimum Price") if the proposal were approved,  therefore, we believe
          there is a reasonable  likelihood that Unit Holders will never receive
          more than $9,000 per Unit if the  General  Partner  proceeds  with the
          proposal set forth in the Preliminary  Solicitation and it is approved
          by the limited partners.

     o    The Offer price is over THREE TIMES THE HIGHEST  PRIOR OFFER for Units
          of which Purchaser is aware, made at $3,000 per Unit in April 2003.

     The  Partnership  has  received  two  non-binding  offers to  purchase  the
Partnership's  properties.  The General Partner estimates that, depending on the
outcome of due diligence to be performed by the prospective  purchasers,  a sale
of the properties  pursuant to one of such offers would result in a distribution
of from  $9,200 to $11,300  per Unit.  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 July 2,  2003.  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,

                                         MILLENIUM MANAGEMENT, LLC