SOURCE: MacKenzie Patterson Fuller, LP

April 20, 2006 14:14 ET

Tender Offer for Kaanapali Land, LLC Class A Shares

MORAGA, CA -- (MARKET WIRE) -- April 20, 2006 --MacKenzie Patterson Fuller, LP and Sutter Capital Management, LLC (the "Purchasers") are offering to purchase up to 8,000 Shares, or approximately 4.97% of the outstanding Class A Shares (the "Shares") of KAANAPALI LAND, LLC (OTC: KAAN) (the "Company") for $1.00 per Share. The expiration date on this offer is May 20, 2006.

This announcement is neither an offer to buy nor a solicitation of an offer to sell Shares. The Offer is being made solely by the formal Offer to Purchase forwarded to Shareholders of record and is not being made to, and tenders will not be accepted from or on behalf of, Shareholders residing in any jurisdiction in which making or accepting the Offer would violate that jurisdiction's laws.

NOTICE OF OFFER TO PURCHASE FOR CASH: Up to 8,000 Class A Shares of Kaanapali Land, LLC (the "Company") at a price of $1.00 per Share upon the terms and subject to the conditions set forth in Purchasers' Offer to Purchase and in the related Assignment Form for the offer (the "Offer"). THE OFFER EXPIRES AT 12:00 MIDNIGHT, PACIFIC TIME, ON MAY 20, 2006, UNLESS THE OFFER IS EXTENDED.

Funding for the purchase of the Shares will be provided through the Purchasers' existing working capital. The Offer is not made for the purpose of acquiring or influencing control of the business of the issuer. In all cases payment for the Shares purchased pursuant to the Offer will be made only after timely receipt of the Assignment Forms (or facsimiles thereof), properly completed and duly executed, with any required signature guarantees, and any other documents required for transfer.

Tender of Shares made pursuant to the Offer may not be withdrawn after tendering. Shares will be purchased on a first-come, first-buy basis. The terms of the Offer are more fully set forth in the formal Offer which is available from Purchasers at the Purchasers' expense by requesting it from the Purchasers as set forth below. The Offer contains important information which should be read carefully before any decision is made with respect to the Offer.

For Copies of the Offer, Call Purchasers at 1-800-854-8357, write to 1640 School Street, Moraga, California 94556, email to offers@mpfi.com, or visit our website at www.mpfi.com (click on MPF Tenders).

Contact Information

  • MacKenzie Patterson Fuller, LP
    Robert Dixon
    Telephone: 925-631-9100 x204
    925.631.9119 (fax)