Everest
155 N. Lake Avenue,  Suite 1000,
Pasadena,  CA 91101
Tel (626) 585-5920
Fax (626) 585-5929

September 4, 2003


TO HOLDERS OF ORIGINAL UNITS OF
INCOME GROWTH PARTNERS, LTD. X

     Re: Offer to Purchase Original Units for $1,000 Per Unit

Dear Unit Holder:

     Enclosed  is an OFFER  TO  PURCHASE  up to 940  Original  Units of  limited
partnership interests in Income Growth Partners, Ltd. X (the "Partnership") at a
cash purchase  price of $1,000 per Original  Unit,  without  interest,  less the
amount of  distributions  made to you after the date of the Offer,  and less any
transfer fees imposed by the Partnership,  which the Partnership  advises us are
$40 per transfer (regardless of the number of Units transferred).

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

     o    $1,000 per Original Unit equals the original investment amount for the
          Original Units.  Unit Holders who invested in the Partnership  when it
          was  organized  in 1988 are finally able to recover the full amount of
          their investment in such units.

     o    The General  Partner  announced  in July 2003 that it was  considering
          listing the  properties  for a combined  price of $50 Million and that
          the net  proceeds to Unit  Holders  from a sale at that list price was
          estimated at $979.63 per Original Unit.

     o    The Offer price  exceeds by $150 per unit the highest  prior offer for
          Original Units of which Purchaser is aware.

     o    No distributions can be made on the Original Units until approximately
          $3.9 Million ($478 per unit) more is distributed on the Class A Units,
          which would take 4 years at the current rate of distributions  made on
          the  Class A  Units.  No  distributions  have  ever  been  made on the
          Original Units.

     According to the General Partner,  a listing  agreement has been signed and
the  properties  have been listed for a combined  asking price of $62.9 Million.
The General  Partner also stated that even if the properties were sold promptly,
no proceeds would be distributed  before 2004 and the  Partnership  would not be
completely  liquidated  before  2005.  We urge you to read the Offer to Purchase
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 October 3, 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,

                                        EVEREST MANAGEMENT, LLC