Alpine Closed-End Funds - AGD Performance

Total Returns (as of 12/31/2011)
NAV	1 Month	3 Month	6 Month	1 Year	3 Year	5 Year	Since Inception Date of 7/26/2006
$5.24	-2.76%	7.21%	-21.95%	-18.55%	6.56%	-12.00%	-8.11%
Market Price	1 Month	3 Month	6 Month	1 Year	3 Year	5 Year	Since Inception Date of 7/26/2006
$5.17	-7.13%	-0.16%	-25.09%	-20.74%	5.07%	-13.10%	-9.14%

Returns for periods of one year or less reflect cumulative returns. Returns for periods greater than one year reflect annualized returns. All distributions are assumed to be reinvested. The performance data quoted above represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate and shares, when sold, may be worth more or less than their original cost. To the extent that the Fund's historical performance resulted from gains derived from participation in initial public offerings ("IPOs") and/or Secondary offerings, there is no guarantee that these results can be replicated in future periods or that the Fund will be able to participate to the same degree in IPO and Secondary offerings in the future.

Not FDIC Insured | May Lose Value | No Bank Guarantee

The Alpine Global Dynamic Dividend Fund ("AGD"), Alpine Total Dynamic Dividend Fund ("AOD") and Alpine Global Premier Properties Fund ("AWP") are closed-end funds. AGD's first trade day was July 26, 2006 under the ticker symbol AGD. AOD's first trade day was January 26, 2007 under the ticker symbol AOD. AWP's first trade day was April 26, 2007 under the ticker symbol AWP.

To read about the Funds, access the Annual and Semi-Annual Reports in the Literature section or call 1-800-617-7616 to receive a copy of the Annual and Semi-Annual Reports by mail. An investor should consider investment objectives, risks, charges and expenses carefully before investing. To speak with a representative about the Alpine Closed-End Funds call 1-800-617-7616.