FOR IMMEDIATE RELEASE

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Novato, CA – June 11, 2008 Hennessy Advisors, Inc., investment manager of the Hennessy Funds, today announced an agreement that will make their family of quantitatively managed mutual funds available to Merrill Lynch clients through Merrill’s vast network of approximately 16,000 professional financial advisors.

"We couldn’t be more excited and honored that our Funds have been selected by one of the world’s leading and most respected wealth management companies," said Neil Hennessy, Chairman and CEO of Hennessy Advisors, Inc. and Chairman and Portfolio Manager of Hennessy Funds. "With extremely volatile markets and an ever growing number of investment options, it is no surprise that more and more investors are seeking the guidance and resources of an experienced financial advisor, and we believe they are well served by Merrill Lynch’s financial advisors. We are proud to have our mutual funds represented by such a high-caliber group of investment professionals,” he added.

“I have had the distinct pleasure of working with Merrill Lynch for many years, and we look forward to a long partnership between Merrill Lynch and Hennessy Funds,” said Kevin Rowell, Hennessy Funds’ newly appointed President.

About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is the investment manager of the Hennessy family of mutual funds. Each of the Hennessy Funds employs a time-tested, quantitative stock selection strategy and is managed with the discipline and consistency of an index fund.

The Hennessy Funds are comprised of:

Hennessy Focus 30 Fund (HFTFX-Original class shares; HIFTX-Institutional class shares)
Hennessy Cornerstone Growth Fund (HFCGX-Original class shares; HICGX-Institutional class shares)
Hennessy Cornerstone Growth Fund, Series II (HENLX-Original class shares; HINLX-Institutional class shares)
Hennessy Cornerstone Value Fund (HFCVX-Original class shares; HICVX-Institutional class shares)
Hennessy Total Return Fund (HDOGX-Original class shares)
Hennessy Balanced Fund (HBFBX-Original class shares)

Supplemental Information
The funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-800-966-4354 or visiting www.hennessyfunds.com. Please read the prospectus carefully before investing.

Mutual fund investing involves risk; principal loss is possible. As of 3/31/08, none of the Hennessy Funds held positions in Merrill Lynch. Fund holdings are subject to change at any time, and should not be considered a recommendation to buy or sell any security.

Quasar Distributors, LLC, Distributor.