Denali Fund Inc. (DNY)

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Insider Trading: Purchases

Insider	Price	Amount	Relationship	Remaining Holdings	Date	Form 4
Lola	$13.48	1,700	Large Shareholder	3,090,292	2009-11-10	Filing
Lola	$13.54	2,000	Large Shareholder	3,088,592	2009-11-10	Filing
Lola	$13.53	1,000	Large Shareholder	3,086,592	2009-11-10	Filing
Lola	$13.50	2,400	Large Shareholder	3,085,592	2009-11-09	Filing
Lola	$13.31	600	Large Shareholder	3,083,192	2009-11-06	Filing
Lola	$13.25	33	Large Shareholder	3,082,592	2009-10-30	Filing
Lola	$13.31	3,960	Large Shareholder	3,082,559	2009-10-28	Filing
Lola	$13.37	1,300	Large Shareholder	3,078,599	2009-10-27	Filing
Lola	$13.35	2,100	Large Shareholder	3,077,299	2009-10-27	Filing
Lola	$13.36	364	Large Shareholder	3,075,199	2009-10-26	Filing
Lola	$13.40	1,000	Large Shareholder	3,074,835	2009-10-26	Filing
Lola	$13.44	2,000	Large Shareholder	3,073,835	2009-10-26	Filing
Lola	$13.45	600	Large Shareholder	3,071,835	2009-10-26	Filing
Lola	$13.50	5,000	Large Shareholder	3,071,235	2009-10-26	Filing
Lola	$13.31	400	Large Shareholder	3,066,235	2009-10-23	Filing
Lola	$12.75	100	Large Shareholder	3,065,835	2009-09-25	Filing
Lola	$12.66	400	Large Shareholder	3,065,735	2009-09-24	Filing
Lola	$12.64	500	Large Shareholder	3,065,335	2009-09-24	Filing
Lola	$12.39	1,900	Large Shareholder	3,064,835	2009-09-08	Filing
Lola	$12.14	1,500	Large Shareholder	3,062,935	2009-09-04	Filing