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Decade Companies Income Properties--A Limited Partnership
(Name of Registrant as Specified In Its Charter)
Filed by Registrant
(Name of Person(s) Filing Proxy Statement,
if Other than Registrant)
<PAGE>
Exhibit Index
Exhibit
1 Letter dated January 13, 1997
Exhibit 1
January 13, 1996
RE: Decade Companies Income Properties ("DCIP")
Dear Investor:
By now you should have received another letter from Arnold Leas, an
ex-employee of Decade Securities Corp. Unfortunately, Mr. Leas is
once again attempting to confuse the issues at hand for his own
personal gain. The purpose of this letter is to bring you up to
date on some recent events.
First, the tender offer which was recently completed was designed
to provide immediate liquidity to partners who wanted to get out of
the partnership and to have the effect of giving the benefit of any
discount associated with the liquidation price to those partners
who remained in the partnership. We have accomplished that goal
and it has resulted in a larger share of the pie for the remaining
partners.
Second, the proposed Amendment to the partnership agreement is
designed to protect partners from the likes of Mr. Leas. As
described, the Amendment gives additional cash rights to dissenting
partners in the event Mr. Leas or anyone else like him takes over
the partnership. As discussed in the Amendment, we believe this is
of great potential benefit to all partners.
Recently, the partnership and the general partner have sued
Mr. Leas for interfering with its business and for making
solicitations to the partnership using false and misleading
statements in violation of the securities laws. In December, the
Court issued a Temporary Restraining Order against Mr. Leas (with
his consent). We will continue to work to stop his misleading
solicitations.
The actions that are being taken by Mr. Leas can be very costly to
the partnership. You can help contain these costs by returning
your vote for the Partnership's proposed amendment as soon as
possible. In addition, we ask that you not respond to any request
by Mr. Leas.
If you have any questions, please call me directly, at (414) 792-
9200.
Very truly yours,
Michael Sweet
Partnership Manager
