The applications of reference governors to systems with unmeasured set-bounded disturbances can lead to conservative solutions. This conservatism can be reduced by estimating the disturbance from output measurements and canceling it in the nominal control law. In this paper, a reference governor based on such an approach is considered and time-varying, disturbance and state estimation errors bounding sets are derived. Consequently, the traditional implementation of a reference governor, which exploits a constraint admissible positively-invariant set of constant commands and initial states, is replaced by one which utilizes a time-dependent sequence of similar sets (which are not necessary nested). Examples are reported which include two applications to longitudinal control of aircraft that illustrate handling of elevator uncertainty and wing icing.