Alpine Closed-End Funds

Strategy IV: Paired Rotation Strategy

The Fund’s paired rotation strategy pairs similar stocks and captures multiple dividends per year versus four quarterly dividends.

Traditionally, investors buy a dividend paying security and hold it over the course of twelve months, “capturing” four quarterly dividends. Alpine’s dynamic approach to dividend investing will endeavor to capture more dividend payments with the same investment capital by “rotating” between securities with similar characteristics throughout the same twelve months.

The following are hypothetical examples of a traditional dividend investing strategy and Alpine’s dynamic dividend investing strategy.

* In the example, dividends would be paid at the end of each month noted.
** These examples are for illustrative purposes only and are not indicative of any investment.
1 The use of dividend capture strategies will expose the Fund to increased trading costs and potential for capital loss or gain, particularly in the event of significant short-term price movements of stocks subject to dividend capture trading.

Four Dynamic Strategies | Growth Dividend Payers | Value Dividend Opportunities | Special Dividend Research

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.