<PAGE> 1
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,
Springhill Lake Investors Limited Partnership. 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
$58,768.00 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.
