[denaliweekly]Denali Asset Management Weekly Est. ROR -2.66% MTD
Megan Arias
megan@denalifunds.com
Mon, 17 May 2004 12:03:48 -0400
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Dear Investor:
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As of the close of business on Friday May 14, 2004, we estimate that
Denali Partners, LP and Denali Offshore Partners, Ltd. are down -2.66%
MTD.
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Please contact me with any questions.
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Best regards,
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Megan Arias
Director of Investment Services
Denali Asset Management, Ltd.
an affiliate of Denali Asset Management, LLLP
' (773) 685-1733 =20
7 (773) 685-1734 =20
, megan@denalifunds.com
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<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial size=3D2>Dear=20
Investor:</FONT></SPAN></DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial size=3D2>As of =
the close of=20
business on Friday May 14, 2004, we estimate that Denali Partners, LP =
and Denali=20
Offshore Partners, Ltd. are down -2.66% MTD.</FONT></SPAN></DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial size=3D2>Please =
contact me=20
with any questions.</FONT></SPAN></DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial size=3D2>Best=20
regards,</FONT></SPAN></DIV>
<DIV><SPAN class=3D984115415-17052004><FONT face=3DArial=20
size=3D2></FONT></SPAN> </DIV>
<DIV> </DIV>
<DIV align=3Dleft>
<P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20
style=3D"FONT-FAMILY: 'Arial Narrow'">Megan Arias<?xml:namespace prefix =
=3D o ns =3D=20
"urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></P>
<P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20
style=3D"FONT-FAMILY: 'Arial Narrow'">Director of Investment=20
Services<o:p></o:p></SPAN></P>
<P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20
style=3D"FONT-FAMILY: 'Arial Narrow'">Denali Asset Management,=20
Ltd.<o:p></o:p></SPAN></P>
<P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20
style=3D"FONT-FAMILY: 'Arial Narrow'">an affiliate of Denali Asset =
Management,=20
LLLP</SPAN></P>
<P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20
style=3D"FONT-SIZE: 13.5pt; COLOR: maroon; FONT-FAMILY: 'Wingdings =
2'">'</SPAN><SPAN=20
style=3D"FONT-FAMILY: 'Arial Narrow'; mso-bidi-font-size: 13.5pt"><SPAN=20
style=3D"mso-tab-count: 1"> =
</SPAN>(773)=20
685-1733</SPAN><SPAN=20
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2'"><SPAN=20
style=3D"mso-tab-count: 1"> </SPAN><o:p></o:p></SPAN></P>
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1"> =20
</SPAN></SPAN><SPAN=20
style=3D"FONT-FAMILY: 'Arial Narrow'; mso-bidi-font-size: 13.5pt">(773)=20
685-1734</SPAN><SPAN=20
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2'"><SPAN=20
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<P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20
style=3D"COLOR: fuchsia; FONT-FAMILY: Wingdings">,<SPAN=20
style=3D"mso-tab-count: 1"> </SPAN></SPAN><SPAN=20
style=3D"FONT-FAMILY: 'Arial Narrow'; mso-bidi-font-size: =
13.5pt">megan@denalifunds.com<o:p></o:p></SPAN></P></DIV>
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