May 25, 2005

TO UNIT HOLDERS OF SECURED INVESTMENT RESOURCES FUND, L.P.

         Re:      Supplemental Information Regarding
                  Offer to Purchase Units for $4 Per Unit

Dear Unit Holder:

     We are writing to provide you with  updated  and  supplemental  information
regarding  our  Offer to  Purchase  up to 8,000  Units  of  limited  partnership
interests in Secured Investment Resources Fund, L.P. (the "Partnership"),  dated
April 15, 2005.

     Hidden  Valley.  The Hidden Valley  Exchange  Shopping  Center was sold for
approximately  $1,360,000 (including the assumption of the tax liens against the
property),  in order to avoid losing the property in the threatened foreclosure.
We believe this was an excellent result, given that the April 30, 2004 appraisal
price was $1.4 Million, which assumed no special selling pressure and made other
favorable  assumptions that did not apply in a foreclosure  situation (see Offer
to Purchase for more information).

     The net proceeds to the  Partnership,  after paying off the  mortgage,  the
closing costs and a judgment lien,  were  approximately  $165,000,  or $6.65 per
Unit.  The  Partnership  does not  intend to make any  distributions  to limited
partners  because  the  amount  of net  proceeds  is small  and is needed by the
Partnership for working capital,  current payables and the operation of its sole
remaining property: the Cascade Apartments in Topeka, Kansas.

     Please note that the Offer is $4 per Unit in cash. Also, you may be able to
obtain a tax  benefit if you have  accumulated  passive  losses that you can use
once you have disposed of your investment in the Partnership; you should consult
your tax advisor about this possibility.

     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 now  scheduled  to expire on June 3, 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,

                                     MILLENIUM MANAGEMENT, LLC