FOR IMMEDIATE RELEASE

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HENNESSY ADVISORS, INC. RAISES DIVIDEND
FOR THIRD CONSECUTIVE YEAR

Novato, CA - January 24, 2008 - The Board of Directors of Hennessy Advisors, Inc. today declared a cash dividend of $0.09 per share. This is the company’s fourth annual cash dividend, and it is the third consecutive year where the dividend has increased year over year. The dividend will be paid on March 6, 2008 to shareholders of record as of February 13, 2008.

“We are very pleased to give this increased annual dividend to our shareholders, so that they can share in the company’s financial success,” said Neil Hennessy, President and Chief Executive Officer of Hennessy Advisors, Inc. “We believe this dividend represents a tangible example of the fundamental financial strength of Hennessy Advisors, and we want to thank our shareholders for their continued confidence in our firm,” he added.


Hennessy Advisors, Inc., located in Novato, CA, is a publicly traded investment advisor to six no-load mutual funds. Hennessy Advisors, Inc. is committed to their time-tested, quantitative stock selection formulas and disciplined money management approach.


Supplemental Information

Nothing in this section shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.




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