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Denali Announces Late Filing of Its Form 10-K

04 October 2000

Denali Incorporated today announced that it filed a Form 12b-25 with the Securities and exchange Commission which is notification of the Company's late filing of Form 10-K for the year ended July 1, 2000. As disclosed in the Form 10-Q for Denali Incorporated (the"Company") for the quarter ended April 1, 2000, the Company is engaged in negotiations with a private equity fund whereby the fund proposes to invest in excess of $20 million in the Company. Due to the Company's recent operating losses and significntly decreased cash flow from operations, the Company's liquidity has reached extremely low levels. Management believes that the investment by the private equity fund, if completed, will resolve the Company's liquidity problems. Denali Incorporated is a global provider of fluid handling products specializing in corrosion-resistant applications in process industries such as: chemical, power, pulp and paper, petroleum equipment, and water/wastewater. The Company manufactures engineered fiberglass-composite tanks, vessels and piping systems, as well as steel, aboveground storage tanks. The Company also distributes a wide range of engineered products and systems. Headquartered in Houston, Denali Incorporated has over 20 manufacturing facilities in the United States, the Netherlands, Germany, the United Kingdom, Poland, France and Chile and joint ventures in Venezuela and Thailand. For more information on the Company, please visit its Web site at





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