Fading a bitmap is a very intense operation, and you should really use better alternatives. What works best is to texture a plane(plain to DB) with your image, and then just fade the light and the object together. Here's an example of a splash screen that fades out.
sync on
sync rate 60
set display mode 1024, 768, 32
autocam off
load image "splash.png", 1
make object plain 1, 1024,768
move camera -640
`Moving the camera away 640 units(in 1024x768 mode) makes the world units line up pretty well exact with the pixels on your screen.
texture object 1, 1
color backdrop 0
set ambient light 100
sleep 2000
for x=100 to 0 step -1
set ambient light x
fade object 1, x
sync
next x
sleep 500
delete object 1
delete image 1
P.S. please give more descriptions of your problems from now on. Show us some code, explain what you tried, and you'll get much better help.
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