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Hennessy Advisors, Inc. Acquires $158 Million in Assets;
Launches “Select Series” of Funds

Novato, CA – March 23, 2009 - Hennessy Advisors, Inc. today announced that it has acquired the assets related to the management of the Tamarack Large Cap Growth Fund and the Tamarack Value Fund. These two funds have combined assets of approximately $158 million, representing 17,000 shareholders. Hennessy acquired these assets from RBC’s Voyageur Asset Management.

Shares of the Tamarack Large Cap Growth Fund will be exchanged for shares of the Hennessy Cornerstone Large Growth Fund (HFLGX), and the fund will be managed by Hennessy Advisors following a purely quantitative, time tested investment formula. Shares of the Tamarack Value Fund will be exchanged for shares of the Hennessy Select Large Value Fund (HSVFX), and Hennessy Advisors has retained Voyageur Asset Management as sub advisor to manage the portfolio of the fund.

“We are excited to enter into our first sub-advisory partnership. The Hennessy Select Large Value Fund, which will be managed by Voyageur, marks the initial offering under our new ‘Select Series’ of funds,” said Kevin Rowell, President of Hennessy Funds. “The Hennessy Select Series will employ seasoned asset managers. Launching this new series of funds will allow us to round out our product offering and to showcase the talent of what we believe are excellent, yet undiscovered managers,” he noted.

“We are pleased to close the next in a string of successful acquisitions that we believe benefit the shareholders of the acquired funds, of Hennessy Funds and of Hennessy Advisors, Inc.,” said Neil Hennessy, Chairman, CEO and President of Hennessy Advisors, Inc. “We would like to welcome our newest shareholders into the Hennessy family and look forward to providing them with the outstanding investment services we have come to be known for. It is exciting to launch two new funds for our existing Hennessy shareholders, and to increase the assets under management for Hennessy Advisors. This acquisition illustrates our commitment to aggressively pursuing opportunities to grow our business even in this precarious economic environment,” he added.

About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment advisor to an entire line-up of mutual funds which employ a repeatable process and team-managed approach. Hennessy Advisors, Inc. is committed to their time-tested stock selection formulas and disciplined money management approach.

Additional Information
Nothing in this press release 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 prior to registration under the applicable securities laws.

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