The fleet-footed Alhambra-Union backline ran the ball from all parts of the field to score six tries in an exciting game at Kettle Park.
Speedy wingers Karne Hesketh and Randell Kamea were in lethal mood and scored five of the tries.
Lock Cowan Finch supplied Alhambra-Union with line-out ball and the support play of flanker Matt Clutterbuck sustained the momentum of the attack.
No 8 Scott McKee played aggressively and was the best of the Dunedin forwards, while fullback Louis Tili, in his first premier game, kicked accurately to score 14 points and keep his side in the game.
Alhambra-Union started at pace and scored three tries to lead 17-3 after just 20 minutes.
Dunedin looked down and out at this stage but came back to trail by just one point at the break.
The lead see-sawed after this and Dunedin was in front 29-25 when Tumua Ioane scored his second try.
Peter Breen's accurate kicking took Alhambra-Union back into the lead, and it clinched the game when Kamea scored his second try late in the game.
Alhambra-Union 40 (Karne Hesketh 3, Randell Kamea 2, Doug Edwards tries; Luke Reihana conversion, Peter Breen conversion, penalty goal, dropped goal), Dunedin 29 (Tumua Ioane 2, Joe Bradley tries; Louis Tili conversion, 4 penalty goals).
Half-time: Alhambra-Union 17-16.
Referee: Tim Baker.