Alpine Closed-End Funds

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Strategy II: Dividend Capture

Objective: Maximize Qualified Dividend Income

Characteristics:

Paired “rotation strategy” pairs similar stocks and captures six dividends per year versus four quarterly dividends
Special dividend situations where companies are returning large cash balances to shareholders as one-time dividend payments due to a restructuring or recent strong operating performance

Three Dynamic Strategies | Value | Growth | Paired Rotation Strategy

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.