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Alpine Total Dynamic Dividend Fund (NYSE:AOD) And Alpine Global Dynamic Dividend Fund (NYSE:AGD) Announce Increases To Distributions And Reverse Stock Splits

The Boards of Trustees (“Boards”) of the Alpine Total Dynamic Dividend Fund (NYSE:AOD) and the Alpine Global Dynamic Dividend Fund (NYSE:AGD) approved increases in the monthly distribution of each of the Funds for the month of January 2014. The Funds’ monthly distributions are being increased based on each Fund’s performance since the current portfolio management team began managing the Funds in December 2012, the Adviser’s current view of each Fund’s long-term return potential and the level of dividend income the Funds currently expect to be able to generate over the upcoming year. The Boards have also approved a 1 for 2 reverse stock split for each Fund, the effective date of which is expected to be January 21, 2014 prior to the opening of trading on the New York Stock Exchange.

January 2014 Distribution

The below table reflects the current distribution payable in December 2013, which will remain unchanged for both Funds, and the current distribution rate without giving effect to the increase as well as incorporating the new distribution rate for January 2014, both after giving effect to a 1 for 2 reverse stock split for each Fund.
        Pre-Split       Post-Split


Distribution Ratewithout increase

Increased January2014 DistributionRate
Alpine Total Dynamic Dividend Fund (AOD)       $ 0.0270       $ 0.0540       $ 0.0565
Alpine Global Dynamic Dividend Fund (AGD)       $ 0.0300       $ 0.0600       $ 0.0640

The percentage increase is 4.63% for AOD and 6.67% for AGD.

Dates related to the distribution declarations for the Funds are as follows:
Ex-Distribution Date Record Date Payable Date

January 22, 2014
January 24, 2014 January 31, 2014

Reverse Stock Splits

The reverse stock splits will result in every two outstanding shares being converted into one share, thereby reducing the number of outstanding shares by a factor of two. Shareholders will be paid cash for any fractional shares that may result from the reverse split, except for shareholders participating in the Funds’ Dividend Reinvestment Plan, who will receive fractional shares. Once the reverse stock splits are complete, each shareholder’s account will reflect fewer shares with a higher net asset value and market price per share. Each Fund’s trading price will initially increase by a factor of two, making it potentially available or more attractive to a wider range of investors. Each shareholder will hold the same percentage of the Funds’ outstanding common shares immediately following the reverse stock split as held immediately prior to the split, subject to adjustments for the intended sale of fractional shares resulting from the transaction.

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