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IMPORTANT-REMINDER
AIMCO
AIMCO PROPERTIES, L.P.
c/o River Oaks Partnership Services, Inc.
P.O. Box 2065
S. Hackensack, N.J., 07606-2065
(888) 349-2005
June 12, 2000
Dear Unitholder:
We recently offered to purchase all of the units in your partnership,
Consolidated Capital Institutional Properties. Our offer presents you with the
following two options, which you are free to accept or reject in any
combination you like:
1. You may tender each of your units in exchange for $440.00
in cash, in which case you may recognize a gain or loss for federal
income tax purposes.
2. You may retain any or all of your units. If you choose to
retain any or all of your units, your rights as a holder of units will
remain unchanged. You will continue to participate in gains and losses
of your partnership, and you will receive distributions, if any,
payable in respect of your units.
The offer was previously scheduled to expire on Tuesday, June 13,
2000. The expiration date has now been extended to Friday, 5:00 p.m., New York
City time, on June 26, 2000. Our offer price will be reduced for any
distributions subsequently made by your partnership prior to the expiration of
our offer.
The general partner of your partnership, which is owned by us, has
substantial conflicts of interest with respect to the offer. Accordingly, the
general partner of your partnership makes no recommendation to you as to
whether you should tender or refrain from tendering your units in the offer.
If you desire to tender any of your units in response to our offer,
you should complete and sign the enclosed acknowledgment and agreement in
accordance with the enclosed instructions and the letter of transmittal and the
instructions thereto contained as Annex I to the enclosed Supplement and mail
or deliver the signed acknowledgment and agreement and any other required
documents to River Oaks Partnership Services, Inc., which is acting as the
Information Agent in connection with our offer, at the address set forth on the
back cover of the Offer to Purchase and the enclosed Supplement. It is only
necessary to return the acknowledgment and agreement. If you have already
tendered your units in accordance with the original letter of transmittal,
Appendix II to the Offer to Purchase, and the original acknowledgment and
agreement, you need not take any further action to continue to tender your
units. The offer will expire at 5:00 p.m. New York City time on June 26, 2000,
unless extended. If you have questions or require further information, please
call the Information Agent, toll free, at (888) 349-2005.
Very truly yours,
AIMCO PROPERTIES, L.P.
