Alpine Total Dynamic Dividend Fund (NYSE: AOD) And Alpine Global Dynamic Dividend Fund (NYSE: AGD) Announce Completion Of Reverse Stock Splits

Alpine Total Dynamic Dividend Fund (NYSE:AOD) and Alpine Global Dynamic Dividend Fund (NYSE:AGD) announced today that the previously disclosed 1 for 2 reverse stock split for each Fund was executed today prior to the opening of trading on the New York Stock Exchange. Trading of the Funds’ shares on a split-adjusted basis will begin today under new CUSIP numbers of 021060207 for AOD and 02082E205 for AGD.

As a result of the reverse stock splits, every two outstanding shares were converted into one share, thereby reducing the number of outstanding shares by a factor of two. For AOD, the number of outstanding shares was reduced from 217,485,664 to approximately 108,742,832. For AGD, the number of outstanding shares was reduced from 25,206,164 to approximately 12,603,082. 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. 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.

Shareholders of record will receive a letter with additional information regarding the reverse stock split from the Funds’ transfer agent, Boston Financial Data Services, Inc. Any holders of certificates representing pre-split shares of the Funds’ common shares, upon submitting their pre-split certificate shares, will receive non-certificated post-split shares of the Funds’ common stock (i.e., a shareholder's holdings of post-split shares will be reflected only in the Funds’ record books - no new share certificates will be issued). Please note that holders of certificates will not be able to trade their shares until they surrender their pre-split share certificates. However, they will continue to receive dividends or other distributions.

An investment in these Funds presents a number of risks and is not suitable for all investors. Investors should carefully review and consider potential risks before investing. An investment in the Funds’ common shares is subject to investment risk, including the possible loss of the entire principal amount that you invest. Your investment in common shares represents an indirect investment in the securities owned by the Fund most of which are traded on a national securities exchange or in the over-the-counter markets. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. Your common shares at any point in time may be worth less than your original investment, even after considering the reinvestment of Fund dividends and distributions. Other risks associated with investing in these Funds include, but are not limited to, risks involved with smaller and medium sized companies, illiquid, foreign and restricted securities, and short-term trading. The Funds’ strategy of investing in dividend-paying stocks involves the risk that such stocks may fall out favor with investors and underperform the market. In addition, there is the possibility that such companies could reduce or eliminate the payment of dividends in the future. The Funds may hold securities for short periods of time related to the dividend payment periods and may experience loss during those periods.

More information about the Funds is available on www.alpinefunds.com.

Based in Westchester, New York, Alpine Woods Capital Investors, LLC was founded in 1998.

The Funds’ actual results could differ materially from those anticipated due to various risks and uncertainties. Alpine Total Dynamic Dividend Fund and Alpine Global Dynamic Dividend Fund are closed-end funds and do not continuously offer or redeem shares. The Funds trade in the secondary market and investors wishing to buy or sell shares must place orders through a financial intermediary or broker. Also, share prices of closed-end funds will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of closed-end funds may trade at a discount or premium to their original offering price, and often trade at a discount to their net asset value (a price that reflects the value of the fund's underlying portfolio plus other assets, less the fund's liabilities divided by the number of shares outstanding). Investment return, price and net asset value will fluctuate with changes in market conditions.

To read about the Funds, access the Annual and Semi-Annual Reports in the Related Documents section of the website www.alpinefunds.com or call 1-800-617-7616 to receive a copy of the annual and semi-annual reports by mail. An investor should consider the investment objectives, risks, charges and expenses carefully before investing.

Alpine Woods Capital Investors, LLC advises Alpine’s closed-end funds. Quasar Distributors, LLC provides filing administration for Alpine’s closed-end funds. The Funds are not bought or sold through Quasar Distributors.

Copyright Business Wire 2010

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