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Fuzziealum,
Well this might not be the most formal answer, but it's a good guess. Our founders had intentions of using KDPhi as our letters, but when it became known that there was another fraternity, they adopted the fourth letter (alpha). The alpha is lowercase to exemplify a subscript (does not constitute a fourth "real" letter). Our letters stand for something as do many other greek letter organizations, but the alpha is used to distinguish us and does not have significance other than that. I hope that helps a little...
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