From megan@denalifunds.com Tue Dec 11 15:42:03 2007 From: megan@denalifunds.com (Megan Arias) Date: Tue, 11 Dec 2007 09:42:03 -0600 Subject: Denali Asset Mgt Weekly Est. ROR +2.68% MTD Message-ID: <20071211154242.41008E38013@smtpauth02.csee.onr.siteprotect.com> This is a multi-part message in MIME format. ------=_NextPart_000_004C_01C83BDA.15D94910 Content-Type: text/plain; charset="US-ASCII" Content-Transfer-Encoding: 7bit Through the close of business on Monday December 10, 2007, we estimate that Denali Partners, LP and Denali Offshore Partners, Ltd. are up +2.68% MTD. Please contact me with any questions. Kind regards, Megan Arias Director of Investor Services Denali Investment Group, LLC a subsidiary of Denali Asset Management, LLLP P (773) 685-1733 F (773) 685-1734 megan@denalifunds.com DISCLAIMER: An investment with Denali Asset Management, LLLP is risky and only risk capital should be used. Past performance should not be viewed as an indication of future results. ------=_NextPart_000_004C_01C83BDA.15D94910 Content-Type: text/html; charset="US-ASCII" Content-Transfer-Encoding: quoted-printable

Through the close of business on Monday December 10, = 2007, we estimate that Denali Partners, LP and Denali Offshore Partners, Ltd. = are up +2.68% MTD.

Please contact me with any = questions.

Kind regards,

Megan = Arias

Director of Investor = Services

Denali Investment Group, = LLC

a subsidiary of Denali Asset Management, LLLP

P (773) 685-1733

F (773) 685-1734

megan@denalifunds.com

&nbs= p; = ; = &= nbsp; &n= bsp; &nb= sp;

DISCLAIMER: An investment with Denali Asset Management, LLLP is risky and only risk = capital should be used. Past performance should not be viewed as an = indication of future results.

------=_NextPart_000_004C_01C83BDA.15D94910-- From megan@denalifunds.com Wed Dec 19 20:24:59 2007 From: megan@denalifunds.com (Megan Arias) Date: Wed, 19 Dec 2007 14:24:59 -0600 Subject: Denali Asset Mgt Weekly Est. ROR +1.52% MTD Message-ID: <20071219194658.8B3481C8047@smtpauth01.csee.onr.siteprotect.com> This is a multi-part message in MIME format. ------=_NextPart_000_0174_01C8424A.EFC13950 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit Through the close of business on Friday December 14, 2007, we estimate that Denali Partners, LP and Denali Offshore Partners, Ltd. are up 1.52% MTD. Please contact me with any questions. Kind regards, Megan Arias Director of Investor Services Denali Investment Group, LLC a subsidiary of Denali Asset Management, LLLP P (773) 685-1733 F (773) 685-1734 megan@denalifunds.com DISCLAIMER: An investment with Denali Asset Management, LLLP is risky and only risk capital should be used. Past performance should not be viewed as an indication of future results. ------=_NextPart_000_0174_01C8424A.EFC13950 Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: quoted-printable

Through the close of business on Friday December 14, = 2007, we estimate that Denali Partners, LP and Denali Offshore Partners, Ltd. = are up 1.52% MTD.