FOR IMMEDIATE RELEASE

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Kevin A. Rowell Appointed President of Hennessy Funds

Novato, CA - June 4, 2008 - Hennessy Advisors, Inc. (OTCBB:HNNA)
Hennessy Advisors, Inc., investment manager of the Hennessy Funds, today announced the appointment of Kevin A. Rowell as President of Hennessy Funds. In this newly created role, Rowell will be primarily responsible for developing distribution relationships and sales channels for the firm’s family of mutual funds. Rowell has over 20 years experience in sales and distribution, most recently serving as president of Pioneer Funds Distributor.

“We are absolutely thrilled to have Kevin join our team,” said Neil Hennessy, Chairman, President and CEO of Hennessy Advisors, Inc. “We believe Kevin’s expertise in building distribution channels and managing key relationships will help us to significantly grow distribution of our funds and our assets under management,” he added.

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