EXHIBIT 11




CONTACT:          River Oaks Partnership Services, Inc.
                  (888) 349-2005 (toll free)

FOR IMMEDIATE RELEASE

         DENVER, COLORADO, March 19, 2002. As previously announced, AIMCO
Properties, L.P. ("AIMCO Properties") has commenced a tender offer for units of
limited partnership interest in United Investors Growth Properties, subject to
the terms of its Offer to Purchase dated February 25, 2002. AIMCO Properties has
extended the expiration date of its offer. The expiration date for the tender
offer has been extended to midnight, New York City time, on Friday, March 29,
2002. The offer was previously scheduled to expire at midnight on March 25,
2002.

         AIMCO Properties reported, based on information provided by the
Information Agent for the offer, that as of the close of business on March 18,
2002 approximately 386 units (or 0.97% of the units outstanding) had been
tendered pursuant to the offer.

         For further information, please contact River Oaks Partnership
Services, Inc. at (888) 349-2005 (toll free), which is acting as the Information
Agent for the offer.