AMERICA FIRST COMPANIES
- ----------------------------------------------- [AMERICA FIRST LOGO]
1004 FARNAM STREET
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OMAHA, NEBRASKA 68102
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TELEPHONE (402) 444-1630
January 28, 2000
Dear Limited Partner:
I am pleased to report that the majority of the consent cards that have been
returned in the Consent Solicitation for the proposed merger of the Capital
Source Funds are in favor of the transaction. However, as of January 21, 2000,
owners of approximately 45 percent of the BACs have yet to return their consent
cards. The Consent Solicitation period has been extended until February 18,
2000. Please consider the options offered in the Prospectus/Consent Solicitation
Statement and take the appropriate action.
If you have recently returned your consent card, please disregard this letter.
If you have not yet responded, please return your consent card at your earliest
convenience.
If you have questions, please don't hesitate to call our office at
1-800-239-8787 and select Option 4.
Sincerely,
Michael B. Yanney
Chairman
<PAGE>
AMERICA FIRST COMPANIES
- ----------------------------------------------- [AMERICA FIRST LOGO]
1004 FARNAM STREET
- -----------------------------------------------
OMAHA, NEBRASKA 68102
- -----------------------------------------------
TELEPHONE (402) 444-1630
January 28, 2000
Dear Limited Partner:
We have recorded that you have abstained from granting your consent on the
proposed merger of the Capital Source Funds. I am writing this letter to ask you
to reconsider and to grant your consent in favor of the proposed transaction.
To date, a vast majority of consent cards returned have granted their consent in
favor of the proposed merger, but for whatever reason, many of your partners
have elected not to return their consent card at all. The general partners
encourage you to grant your consent in favor of the proposed merger for the
reasons outlined in the Prospectus/Consent Solicitation Statement so that we can
get on with the business of the New Fund.
If you have any questions, please don't hesitate to call us at 1-800-239-8787
and select Option 4.
Sincerely,
Michael B. Yanney
Chairman
