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


November 14, 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:

     Enclosed  is an  OFFER  TO  PURCHASE  your  Units  of  limited  partnership
interests in Wilder Richman Historic  Properties II, L.P. (the "Partnership") at
a cash purchase price of $20,000 per Unit, without interest,  less the amount of
distributions  made to you after the date of the Offer. No transfer fees will be
deducted - the Purchasers will pay any such fee.

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

     o    The Offer is $6,000  (43%)  more than the  highest  prior  third-party
          offer for Units of which Purchasers are aware, made May 23, 2005 by an
          affiliate of Everest.

     o    The Offer is $9,200 (85%) more than the highest distribution that Unit
          Holders  would  have  received  from  a  sale  of  the   Partnership's
          properties  at the highest price  offered for the  properties  earlier
          this year. The Offer is approximately  equal to the distribution  that
          Unit  Holders  would  receive  from  a  sale  of  the  properties  for
          $41,700,000,  which is about $8,700,000 more than the highest previous
          offer for the properties, which were received earlier in 2005.

     o    The Units are illiquid - no trades of Partnership  interests have been
          reported  over the last 12  months,  according  to  Direct  Investment
          Spectrum, an independent industry  publication.  The Offer allows Unit
          Holders  to  dispose  of  their  Units  without  incurring  the  sales
          commissions  associated  with sales arranged  through brokers or other
          intermediaries.

     The  Operating  General  Partner  has  agreed  to  list  the  Partnership's
properties  for sale,  and if an  acceptable  price is offered,  intends to seek
Partnership  approval to sell the properties.  No list price has been determined
for the  properties,  there is no  assurance  that an  acceptable  price will be
offered, and the Purchasers do not know if or when a sale of the properties will
occur or what price may be obtained.

     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 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