Alpine Total Dynamic Dividend Fund (NYSE: AOD), Alpine

PURCHASE, NY --(Marketwired - December 20, 2016) - The Board of Trustees of Alpine Total Dynamic Dividend Fund ( NYSE : AOD ), Alpine Global Dynamic Dividend Fund ( NYSE : AGD ) and Alpine Global Premier Properties Fund ( NYSE : AWP ) announced their same regular monthly distribution for the month of January 2017 as each had paid in the previous month.

Alpine Total Dynamic Dividend Fund (AOD) $0.0575 per share

Alpine Global Dynamic Dividend Fund (AGD) $0.065 per share

Alpine Global Premier Properties Fund (AWP) $0.05 per share

Dates related to the distribution declaration for all three Funds are as follows:

The Funds' monthly distributions may consist of net investment income, net realized capital gains and /or a return of capital. If a distribution includes anything other than net investment income, the Funds will provide a notice of the best estimate of its distribution sources when distributed, which will be posted on the Funds' website, or can be obtained by calling 1-800-617-7616. A return of capital distribution does not necessarily reflect the Funds' investment performance and should not be confused with "yield" or "income". Final determination of the federal income tax characteristics of distributions paid during calendar year will be provided on U.S. Form 1099-DIV, which will be mailed to shareholders. Over the past five years, Alpine Global Premier Properties Fund paid a portion of each of the distributions in years 2011 (36%), 2012 (33.7%), 2013 (32%), 2014 (47%) and 2015 (12.4%) through a return of capital as determined at the end of each year and reported on the U.S. Form 1099-DIV issued for each year. Alpine Global Premier Properties Fund did not pay any distributions through a return of capital in 2009 or 2010 as determined at the end of each year. Over the past five years, Alpine Global Dynamic Dividend Fund and Alpine Total Dynamic Dividend Fund did not pay any distribution through a return of capital as determined at the end of each year. Please consult your tax advisor for further information.

Alpine Global Premier Properties Fund (AWP) has previously adopted a level distribution policy under which AWP anticipates making monthly distributions of $0.05 per share and intends to manage its monthly distributions to include amounts that have otherwise been paid through a year-end special distribution. This amount may be adjusted from time to time depending on current market conditions and the projected performance of the Fund. AWP's level distribution policy is subject to regular review by the Board of Trustees. There can be no assurance that the amount of AWP's monthly distributions will be maintained or that this level distribution policy will not be discontinued or substantially modified in the future.

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 AOD and AGD 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.

Risks associated with AWP include, but are not limited to, risks involved with foreign securities which will involve greater volatility and political, economic and currency risks and differences in accounting methods. Because real estate funds concentrate their investments in the real estate industry, the portfolio may experience more volatility and be exposed to greater risk than the portfolios of many other mutual funds. Risks associated with investment in securities of companies in the real estate industry may include: declines in the value of real estate, overbuilding and increased competition; increases in property taxes and operating expenses; changes in zoning laws; casualty or condemnation losses; variations in rental income, neighborhood values, changes in interest rates and changes in economic conditions.

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.

This release contains forward-looking statements based on currently available information. The Funds' actual results could differ materially from those anticipated due to various risks and uncertainties. Alpine Total Dynamic Dividend Fund, Alpine Global Dynamic Dividend Fund and Alpine Global Premier Properties 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.

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.