Pine Grove Alternative Fund SC TO-I Issuer tender offer statement

Notice of Withdrawal of Tender

Regarding Shares in

Pine Grove Alternative Fund

Tendered Pursuant to the Offer to Purchase

Dated August 21, 2015

The Offer and Withdrawal Rights Will Expire on December 1, 2015,

and This Notice of Withdrawal Must Be Received by

Pine Grove Alternative Fund by,

12:00 Midnight, Eastern Time, on December 1, 2015

Unless the Offer Is Extended.

Complete this form only if you would like to rescind your previous Tender Request.

Complete this Notice of Withdrawal and Return or Deliver to

Pine Grove Alternative Fund:

Regular Mail:

Attn. Transfer Agent

Atlantic Fund Services

PO Box 588

Portland, ME 04112

Overnight Address:

Attn. Transfer Agent

Atlantic Fund Services

3 Canal Plaza, Ground Floor

Portland, ME 04101

For additional information:

Phone:  (855) 699-3103

Fax:  (207) 347-2195

E-mail Address: pinegrove.ta@atlanticfundservices.com

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Ladies and Gentlemen:

The undersigned previously tendered all or some of its shares in Pine Grove Alternative Fund (the “Fund”) for purchase by the Fund by submitting a Letter of Transmittal Regarding Shares in the Fund Dated September 21, 2015 or earlier (the “Letter of Transmittal”).

Such tender was in the amount of:

All of the undersigned’s shares.  

That amount of the undersigned’s shares having the following dollar value:  

$___________________________.

That amount of the undersigned’s shares whose value is in excess of the required minimum investment of $10,000 applicable for the Fund.  

As indicated immediately below, the undersigned hereby wishes to withdraw its tender of shares in the Fund such that:

NONE of the undersigned’s shares will be purchased by the Fund.  

SOME of the undersigned’s shares will be purchased by the Fund and the dollar value of those shares still to be purchased by the Fund is:  

$___________________________.*

* NOTE: This option may be used only to decrease the dollar value of the shares to be purchased by the Fund. If an increase in the dollar value of the shares to be purchased by the Fund is indicated on this form, the Fund shall consider this form null and void and shall process the undersigned’s initial tender request as set forth in its previously submitted Letter of Transmittal.

The undersigned recognizes that, upon the submission on a timely basis of this Notice of Withdrawal of Tender, properly executed, all or some of the undersigned’s shares in the Fund (as indicated above) previously tendered will not be purchased by the Fund upon expiration of the tender offer described above.

Account Number: __________________

PLEASE BE SURE TO COMPLETE BOTH SIDES OF THIS FORM.

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SIGNATURE(S):
FOR INDIVIDUAL INVESTORS AND JOINT TENANTS:	FOR OTHER INVESTORS:
Signature	Print Name of Investor
(SIGNATURE OF OWNER(S)
EXACTLY AS APPEARED ON
APPLICATION FORM UPON
PURCHASE OF SHARES)
Print Name of Investor	Signature
	(SIGNATURE OF OWNER(S)
	EXACTLY AS APPEARED ON
	APPLICATION FORM UPON
	PURCHASE OF SHARES)
Joint Tenant Signature if necessary	Print Name of Signatory and Title
(SIGNATURE OF OWNER(S)
EXACTLY AS APPEARED ON
APPLICATION FORM UPON
PURCHASE OF SHARES)
Print Name of Joint Tenant	Co-Signatory if necessary
	(SIGNATURE OF OWNER(S)
	EXACTLY AS APPEARED ON
	APPLICATION FORM UPON
	PURCHASE OF SHARES)
	Print Name and Title of Co-Signatory
Date:

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