OppenheimerFunds, Inc. Two World Financial Center 225 Liberty Street, 11th Floor New York, New York 10281-1008 Dated as of October 17, 2007 The Board of Trustees Oppenheimer Master Loan Fund, LLC 6803 S. Tucson Way Centennial, CO 80112-3924 To the...

                                              OppenheimerFunds, Inc.
                                            Two World Financial Center
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Dated as of October 17, 2007


The Board of Trustees
▇▇▇▇▇▇▇▇▇▇▇ Master Loan Fund, LLC
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To the Board of Trustees:

         OppenheimerFunds, Inc. ("OFI") hereby offers to purchase 10,000 shares of ▇▇▇▇▇▇▇▇▇▇▇ Master Loan Fund,
LLC (the "Fund"), at a net asset value per share of $10.00 for an aggregate purchase price of $100,000.

         In connection with such purchase, OFI represents that such purchase is made for investment purposes by
OFI without any present intention of redeeming or selling such shares.




                                                     Very truly yours,



                                                     OppenheimerFunds, Inc.


                                                     By:
                                                              ___/s/ ▇▇▇▇▇▇▇ ▇. Gillespie_____
                                                              ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, Senior Vice President and
                                                              Deputy General Counsel