-------------------------------------------------------------- BACAP Alternative
Multi-Strategy Fund, LLC
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IF YOU DO NOT WANT TO SELL FUND INTERESTS AT THIS TIME, PLEASE
DISREGARD THIS NOTICE. THIS LETTER AND THE ATTACHED
INFORMATION ARE SIMPLY NOTIFICATION OF THE FUND'S TENDER OFFER.
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March 27, 2006
Dear Investor:
We are writing to inform you of important dates relating to a tender offer by
BACAP Alternative Multi-Strategy Fund, LLC (the "Fund"). If you are not
interested in selling your limited liability company interests in the Fund
("Interest" or "Interests" as the context requires) at this time, please
disregard this notice.
TENDER OFFER INFORMATION
The tender offer period will begin on March 27, 2006 and end at 12:00 midnight,
Eastern Time, on April 28, 2006. The purpose of the tender offer is to provide
liquidity to Investors who hold Interests. Fund Interests may be redeemed only
by tendering them during one of the Fund's announced tender offers.
Should you wish to tender your Interest or a portion of your Interest during
this tender offer period, please complete and return the enclosed Letter of
Transmittal in the enclosed postage-paid envelope or by fax so that it arrives
no later than April 28, 2006. If you do not wish to tender your Interest, simply
disregard this notice. NO ACTION IS REQUIRED IF YOU DO NOT WISH TO SELL ANY
PORTION OF YOUR INTEREST AT THIS TIME.
All requests to tender Fund Interests must be RECEIVED by the Fund's
Sub-Administrator, Citigroup Global Transaction Services ("Citigroup"), either
by mail or by fax (if by fax, please deliver an original, executed copy promptly
thereafter) in good order by April 28, 2006. IF YOU ELECT TO TENDER, PLEASE
CONFIRM RECEIPT OF THE LETTER OF TRANSMITTAL WITH CITIGROUP BY CALLING (207)
879-6093.
TO LEARN MORE
If you would like to learn more about the tender offer, please refer to the
attached Offer to Purchase document, which contains additional information. If
you have any questions, please contact your dedicated relationship team at Bank
of America or the Fund's Tender Offer Administrator at (000) 000-0000. The
Fund's helpline (000) 000-0000 is also available to address any questions
regarding the tender offer or the Fund, in general.
Sincerely,
BACAP ALTERNATIVE MULTI-STRATEGY FUND, LLC
