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Novato, CA - January 29, 2009 - The Board of Directors of Hennessy Advisors, Inc. today declared a cash dividend of $0.09 per share. This marks the company’s fifth consecutive annual cash dividend. The dividend will be paid on March 5, 2009 to shareholders of record as of February 11, 2009.

“We are very pleased to announce this annual dividend to our shareholders, particularly in light of the challenging financial marketplace in which we operate. We believe we have built a strong foundation that allows us to weather the current economic downturn, and we are using this time to aggressively build and strengthen our sales and distribution efforts,” said Neil Hennessy, President and Chief Executive Officer of Hennessy Advisors, Inc. “We believe this dividend demonstrates the fundamental financial strength of Hennessy Advisors and our commitment to the future growth of this company and to our shareholders. We would like to thank our shareholders for their support in the past and for their continued confidence in us as we navigate these volatile conditions,” he added.

Hennessy Advisors, Inc., located in Novato, CA, is a publicly traded investment advisor to a family of mutual funds 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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