Code of Ethics

The Company has adopted a Code of Business Conduct and Ethics. All employees and directors are subject to this Code. Compliance is administered by the Audit Committee.

The Audit Committee adopted its Policies and Procedures for Complaints and Concerns Regarding Accounting, Internal Accounting Controls, and Auditing Matters. This Code establishes the procedure for receipt, retention, and treatment of complaints received by the Company. These policies and procedures apply to any person who has a reasonable basis for a complaint or concern regarding the Company.

Submission of Complaints and Concerns

To file a Complaint, the Complainant should submit the Complaint, by e-mail to:

EMAIL:
Andrew C. Richardson
auditcommittee@alpinereit.com

The Complainant should provide as much detailed information as possible to assist the Audit Committee with any investigation it may choose to initiate. Complainants may leave their name and phone number or other contact information so that they can be reached to arrange a meeting or otherwise gather additional information. Alternatively, a Complainant may submit his or her Complaint on an anonymous basis, but should recognize that it will be more difficult to conduct a thorough investigation without the opportunity to discuss the Complaint with the Complainant.

In the case of Complaints not submitted on an anonymous basis, the Company will protect the confidentiality of the Complainant from unnecessary disclosure.