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

December 11, 2002


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

     Re:  Offer to Purchase Original Units for $651 Per Unit, dated November 12,
          2002

Dear Unit Holder:

     Everest has extended the expiration date of THE OFFER TO December 24, 2002,
from the previous  expiration date of December 12, 2002.  Investors  should note
that:

     o    $651 per  Original  Unit  equals  the amount of net  proceeds  Everest
          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    The General  Partner has advised us its  recommendation  for Everest's
          Offer will be neutral.

     o    The Offer  price  exceeds by $401 per Unit  (160%) the  highest  prior
          offer for Original Units of which Everest is aware,  made November 23,
          2001.

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

     o    You will be able to obtain a 2002  transfer  of your  Original  Units.
          According to the General Partner,  transfers  received by its transfer
          agent prior to January 15,  2003,  will be deemed  effective as of the
          end of 2002; which means the 2002 K-1 will be a final K-1.

     Please sign and return an Agreement  of Transfer and Letter of  Transmittal
promptly (blue form) in the envelope provided to accept our offer.

     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

     P.S. to Class A Unit Holders:  Several limited partners have indicated they
would  prefer to sell their Class A Units along with their  Original  Units.  If
this applies to you, please contact Everest to discuss your situation.