-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CDnsOsiozujS4OeHM2kltKNYk2gV8vJpXD0iCVQRvXZIjeTB5dT0kfHk7gOFNuXR
 Bk+xgxdmUEO+Hd5fbDIpkw==

<SEC-DOCUMENT>0001170070-10-000002.txt : 20100211
<SEC-HEADER>0001170070-10-000002.hdr.sgml : 20100211
<ACCEPTANCE-DATETIME>20100211111230
ACCESSION NUMBER:		0001170070-10-000002
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100211
DATE AS OF CHANGE:		20100211
EFFECTIVENESS DATE:		20100211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARCHSTONE MARKET NEUTRAL STRATEGIES FUND LTD
		CENTRAL INDEX KEY:			0001170070
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-41286
		FILM NUMBER:		10590167

	BUSINESS ADDRESS:	
		STREET 1:		CITCO FUND SERVICES (CAYMAN ISLANDS) LTD
		STREET 2:		REGATTA OFFICE PARK, WEST BAY ROAD
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			00000
		BUSINESS PHONE:		011-5999-732-2222

	MAIL ADDRESS:	
		STREET 1:		CITCO FUND SERVICES (CAYMAN ISLANDS) LTD
		STREET 2:		REGATTA OFFICE PARK, WEST BAY ROAD
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001170070</cik>
        <entityName>ARCHSTONE MARKET NEUTRAL STRATEGIES FUND LTD</entityName>
        <issuerAddress>
            <street1>dms Corporate Services Ltd.</street1>
            <street2>dms House, 20 Genesis Close</street2>
            <city>GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>KY1-1108</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>011-5999-732-2222</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>A Cayman Islands Exempted Company with Limited Liability</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Joseph</firstName>
                <middleName>S.</middleName>
                <lastName>Pignatelli</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>360 Madison Avenue, 20th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alfred</firstName>
                <middleName>J.</middleName>
                <lastName>Shuman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>360 Madison Avenue, 20th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001170070-09-000005</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2002-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Morgan Keegan and Company, Inc.</recipientName>
                <recipientCRDNumber>4161</recipientCRDNumber>
                <associatedBDName>Morgan Keegan and Company, Inc.</associatedBDName>
                <associatedBDCRDNumber>4161</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>Fifty Front Street, Morgan Keegan Tower</street1>
                    <city>Memphis</city>
                    <stateOrCountry>TN</stateOrCountry>
                    <zipCode>38103-9980</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>395946295</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>66</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>197212</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>Estimate is based upon a percentage of the portion of the AUM contributed through the sales efforts of Morgan Keegan an Company, Inc. from the inception of the Fund through next year. Prior to 05', the fees were paid by the Fund,...CONTINUED ON ITEM #16</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>CONTINUED FROM ITEM #15...and thereafter the fees were paid by A.P. Management Company, LLC, the Investment Manager of the Issuer.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>ARCHSTONE MARKET NEUTRAL STRATEGIES FUND LTD</issuerName>
                <signatureName>Joseph S. Pignatelli, Jr.</signatureName>
                <nameOfSigner>Joseph S. Pignatelli, Jr.</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2010-02-11</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----