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



November 12, 2002


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

         Re:      Offer to Purchase Original Units for $651 Per Unit

Dear Unit Holder:

     Enclosed  is an OFFER TO  PURCHASE  up to 5,650  Original  Units of limited
partnership interests in Income Growth Partners, Ltd. X (the "Partnership") at a
cash purchase price of $651 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 $50 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    $651 per Original Unit equals the amount of net proceeds the Purchaser
          estimates  would be distributed if the  Partnership's  properties were
          liquidated for the value  estimated in the last appraisal  obtained by
          the General Partner, dated May 8, 2002.

     o    One year ago, the General Partner  advised limited  partners that "the
          most recent  appraisal the partnership  [then had] would place a value
          of approximately $604" per Original Unit.

     o    The Offer  price  exceeds by $401 per Unit  (160%) the  highest  prior
          offer for Original Units of which Purchaser is aware.

     o    The Offer  price  exceeds by at least $267 per Unit (70%) the  average
          price per unit for trades of Partnership  interests  reported over the
          last 12 months.

     o    The  Partnership's  general  partner has advised the Purchaser that it
          does not yet have a specific plan to market or sell the  Partnership's
          properties.


     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 12, 2002.  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 INVESTORS 10, LLC