NEW YORK, July 26 /PRNewswire/ -- Alpine Woods Capital Investors, LLC announced today the successful pricing of its first closed-end fund offering, the Alpine Global Dynamic Dividend Fund. The Fund will begin trading on the New York Stock Exchange (NYSE) today under the symbol AGD (NYSE:AGD). The primary investment objective of the Fund is to seek high current dividend income, of which more than 50% is intended to qualify for the reduced Federal income tax rates created by the Jobs and Growth Tax Relief Reconciliation Act of 2003. The Fund also focuses on long-term growth of capital as a secondary investment objective. The Fund seeks to achieve these goals by employing a research-driven approach to identifying companies globally with the potential for dividend increases and capital appreciation. The Alpine Global Dynamic Dividend Fund attracted approximately $476 million in its common share offering, assuming full exercise of underwriters' overallotment options, which may not occur and before deduction of the sales load. The Fund is advised by Alpine Woods Capital Investors, LLC, and the colead managers of the underwriting syndicate were Citigroup Global Markets Inc. and Wachovia Capital Markets, LLC. Alpine Woods Capital Investors, LLC (f/k/a Alpine Management & Research, LLC) also manages the Alpine Mutual Funds, a family of nine carefully focused open-end investment companies, and also provides institutional investment management. Shares of closed-end investment companies, like the Fund, usually trade on a national stock exchange. Similar to stocks, the Fund's share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value. This document is not an offer to sell this security and is not soliciting an offer to buy this security in any state where the offer or sale is not permitted. For more complete information about the Fund, please call 1-800-617-7616 for a free prospectus. Investors should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. Investors should read the prospectus carefully before investing. DATASOURCE: Alpine Woods Capital Investors, LLC CONTACT: Marc R. Rappaport of Alpine Woods Capital Investors, LLC, +1-914-251-0880; or Amiee Watts of SunStar, +1-703-894-1042, for Alpine Woods Capital Investors, LLC Web site: http://www.alpinefunds.com/

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