HLD Land Development Limited Partnership Units V.HLD.UN

RE: Other Offers

[JungleB]

Thanks Michael, You must understand that the “unsolicited offer” looks fishy to us, coming from two HLD insiders. It seems unfair and immoral to me that someone with that information would be so opportunistic. You say, “The lawyers explained how it (the unsolicited offer) must be dealt with”. Well that is no surprise to us, because it looks like this whole thing was cooked up on the inside and carefully planned and calculated to make it legal. Thus the “independent committee” and the “fairness opinion”. As pointed out by others on this board, it makes no sense that something that was found to be “fair from a financial point of view” would not have taken the value of our assets into consideration, after all THAT IS ALL WE HAVE! You are right. Limited Partners should be approaching others in the real estate industry to see if they are interested in the properties. We need a “white knight” to come in with a much better offer. JB