October 22, 1998
Dear Investor:
We recently received your ballot on the proposed merger of the America First
Tax Exempt Mortgage Fund L.P. in which you are an investor. You might recall
that you chose to abstain from voting. I am writing this letter to ask you to
reconsider and to vote in favor of the transaction. The board of directors
believes that this merger will be beneficial for limited partners.
I would be pleased to answer, on a personal basis, any questions you may have
and I respectfully request you give me that opportunity. I can be reached at
1-800-283-2357 or on my direct line, 402/930-3081. I would appreciate a call
at your convenience to review the transaction and to discuss with you the
risks and rewards. The current investment climate is creating opportunities
that our Fund cannot take advantage of without making the proposed changes.
Thank you for your consideration.
Sincerely,
Maurice E. Cox, Jr.
Executive Vice President
MEC/cca
