[denaliweekly]Denali Asset Management Weekly Est. ROR -9.25% MTD

[Megan Arias]

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Dear Interested Investors:

As of the close of business on Friday October 17, 2003, we estimate that
Denali Partners, LP and Denali Offshore Partners, Ltd. are down -9.25% MTD.


Please contact me with any questions.


Best regards,


Megan Arias
Operations Manager and Customer Support
Denali Asset Management, Ltd.
* Phone: (312) 332-7744
7    Fax: (312) 332-0879
* Email: megan@denalifunds.com
 


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