Alpine Total Dynamic Dividend Fund (NYSE: AOD) Alpine Global Dynamic Dividend Fund (NYSE: AGD) Declare Monthly Distributions For February 2013 And Announce Distribution Changes

The Board of Trustees (“Board”) of the Alpine Total Dynamic Dividend Fund (NYSE: AOD) and the Alpine Global Dynamic Dividend Fund (NYSE: AGD) announced reductions in the regular monthly distributions of each of the Funds for the month of February 2013. As previously announced, the Funds’ distributions will be communicated on a monthly basis.
 
Alpine Total Dynamic Dividend Fund (AOD)           $0.027 per share
Alpine Global Dynamic Dividend Fund (AGD) $0.03 per share
 

Dates related to the distribution declarations for the Funds are as follows:
           

Ex-Distribution Date
             

Record Date
             

Payable Date
 
February 19, 2013 February 21, 2013 February 28, 2013
 

The regular monthly distribution for AOD will be $0.027 per share versus the previous month’s distribution rate of $0.055 per share. Annualized, this new distribution rate of $0.324 per share represents a current distribution rate of 6.97% on AOD’s closing NAV of $4.65 per share on January 17, 2013. 1

The regular monthly distribution for AGD will be $0.03 per share versus the previous month’s distribution rate of $0.06 per share. Annualized, this new distribution rate of $0.36 per share represents a current distribution rate of 6.99% on AGD’s closing NAV of $5.15 per share on January 17, 2013. 1

These changes are intended to align the Funds’ distribution rates with management’s current assessment of each Fund’s long-term return potential as well as their projected levels of dividend income available to the Funds and to provide the Funds more flexibility to seek capital appreciation. The Funds’ investment objectives remain the same – to seek high current dividend income, a majority of which with respect to AGD is intended to be qualified dividend income, and secondarily, long-term growth of capital. Consistent with their investment policies, the Funds’ management continues to seek equities across the globe that offer both an attractive dividend yield and capital appreciation potential. The Funds’ management believes the revised distribution amounts will provide flexibility for the investment team as it continues to pursue the investment objectives of the Funds.

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