SCHEDULE 14A
(Rule 14a-101)
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
Filed by the Registrant |X|
Filed by a Party other than the Registrant |_|
Check the appropriate box:
| | Preliminary Proxy Statement |_| Confidential, for Use of the Commission
Only (as permitted by Rule 14a-6(e)(2))
|_| Definitive Proxy Statement
|X| Definitive Additional Materials
|_| Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
Brown-Flournoy Equity Income Fund Limited Partnership
(Name of Registrant as Specified In Charter)
-------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
|X| No fee required.
| | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
(1) Title of each class of securities to which transaction applies:
N/A
(2) Aggregate number of securities to which transaction applies:
N/A
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):
N/A
(4) Proposed maximum aggregate value of transaction:
N/A
(5) Total fee paid:
N/A
|X| Fee paid previously with preliminary materials:
$1,925.00
|_| Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
----------------------------------------------------------------
(2) Form, Schedule or Registration Statement No.:
----------------------------------------------------------------
(3) Filing Party:
----------------------------------------------------------------
(4) Date Filed:
----------------------------------------------------------------
<PAGE>
BROWN-FLOURNOY EQUITY INCOME FUND LIMITED PARTNERSHIP
225 East Redwood Street
Baltimore, Maryland 21202
(410) 727-4083
October 29, 1997
Dear Limited Partners:
This letter will serve to clarify certain information contained in the
Consent Solicitation Statement that was mailed to you on October 27, 1997:
Cash Proceeds from the proposed sale: $385+ /- per unit
Return of capital to date: $640
Total cash distributions from operations to date: $347
Total cash distributions to date: $987
After the distribution of sale proceeds, each Limited Partner will have received
$1,372 per $1,000 unit.
Reasons for sale:
1.) Strong Pricing - Cap rate of 8.4
2.) Increased competition - Recently built properties High Ridge (Athens,
Ga) - Rents have been reduced 5-6% Southland Station (Warner Robins,
Ga.) - Rents have been reduced 4-5%
3.) Age - Properties will need capital improvements in coming years
The General Partners of the Partnership recommend the sale.
Consent forms must be received by Nov. 14, 1997 @ 5:00pm EST.
Sincerely,
Brown-Flournoy Equity Income Fund
Limited Partnership
By: Brown Equity Income Properties, Inc.
Administrative General Partner
By: /s/ John M. Prugh
John M. Prugh
President
<PAGE>
