Neil Hennessy Ranks on Barron's List of “Top 100 Fund Managers”
For 5th Consecutive Year

Novato, CA – August 14, 2007 – Hennessy Advisors, Inc. (OTCBB:HNNA) Neil Hennessy, President, Chairman and CEO of Hennessy Advisors, Inc. was recognized in the August 13, 2007 issue of Barron's as one of the top 100 mutual fund managers in the nation. Hennessy ranked #27 as manager of the Hennessy Cornerstone Value Fund and also #95 as manager of the Hennessy Focus 30 Fund out of 5,447 equity funds scanned. Mr. Hennessy was one of just five managers to appear more than once on the 2007 list of Top 100 Managers. Hennessy has been listed among Barron’s Top 100 Managers in each of the last five years.

“We are very proud to again be named to Barron’s list of top fund managers, and we are most pleased to have been able to deliver strong and consistent performance to our fund shareholders” said Mr. Hennessy. “We attribute the success of these funds to their quantitative, time-tested stock selection formulas and to our straight-forward, disciplined investment management style,” he added. The Hennessy Cornerstone Value Fund is classified as a large-cap value fund, while the Hennessy Focus 30 Fund is classified as a mid-cap blend fund.

Fund managers named to the Barron’s list of the industry's top 100 have consistently outperformed their peers. The Barron's/Value Line annual rankings system awards points to managers who generate more stable returns and subtracts points from funds deemed too volatile. A manager with average performance and volatility gets a score of zero. Superior managers get positive scores commensurate with the value they’ve added to a fund’s performance on an annualized basis. Value Line first scanned 5,447 equity funds, screening out those with more than two lead managers and managers with less than three years’ tenure. The remaining funds were then organized by investment objective, and then sector funds and those with less than $200 million in assets were eliminated. 928 managers qualified to be ranked.


About Hennessy Advisors, Inc.
Hennessy Advisors, Inc., headquartered in Novato, California, manages the Hennessy Funds, a family of six no-load mutual funds, which satisfy a variety of investment horizons and risk tolerance levels. Each of the Hennessy Funds utilizes a quantitative stock selection strategy and is managed with the discipline and consistency of an index fund. In addition to the Cornerstone Value Fund (HFCVX) and Hennessy Focus 30 Fund (HFTFX) the company also manages the Hennessy Cornerstone Growth Fund (HFCGX), the Hennessy Cornerstone Growth Fund, Series II (HENLX), the Hennessy Total Return Fund (HDOGX) and the Hennessy Balanced Fund (HBFBX).



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