[denaliweekly]Denali Asset Management Weekly Est. ROR +1.07%
Megan Arias
megan@denalifunds.com
Mon, 26 Sep 2005 10:44:20 -0500
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<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: =
10pt; FONT-FAMILY: Arial">Dear Investors:</SPAN></FONT><o:p></o:p></P></DIV=
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<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: =
10pt; FONT-FAMILY: Arial">As of the close of business on Friday Septem=
ber 23, 2005, we estimate that Denali Partners, LP and Denali Offshor=
e Partners, Ltd. are up +1.07% MTD.</SPAN></FONT><o:p></o:p></P></DIV>=0D
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<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: =
10pt; FONT-FAMILY: Arial">Please contact me with any questions.</SPAN></FON=
T><o:p></o:p></P></DIV>=0D
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<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: =
10pt; FONT-FAMILY: Arial">Thanks,</SPAN></FONT><o:p></o:p></P></DIV>=0D
<P>Brad Lenhart</P>=0D
<P>on behalf of</P>=0D
<P>Megan Arias <BR>
Director of Investment Services <BR>
Denali Asset Management, Ltd. <BR>
an affiliate of Denali Asset Management, LLLP <BR>
<BR>
Phone (340) 778-7744 <BR>
Fax (340) 778-7748 <BR>
Email megan@denalifunds.com </P>=0D
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