Hennessy Advisors, Inc. Acquires Assets Related to the Management of FBR Funds, Bringing Assets Under Management to $3.1

   Hennessy Advisors, Inc. Acquires Assets Related to the Management of FBR
           Funds, Bringing Assets Under Management to $3.1 Billion

PR Newswire

NOVATO, Calif., Oct. 26, 2012

NOVATO, Calif., Oct. 26, 2012 /PRNewswire/ -- Hennessy Advisors, Inc. (OTCBB:
HNNA) today announced that it has completed the acquisition of assets related
to the management of the ten FBR Funds. As a result, the FBR Funds have been
reorganized into the Hennessy Funds bringing the total assets under management
of Hennessy Advisors, Inc. to $3.1 billion and the total number of
shareholders to approximately 180,000.

"I want to personally thank the shareholders of the former FBR Funds for their
vote of confidence and welcome them to the Hennessy family of Funds. We are
pleased to now offer investors an expanded product line-up, including domestic
equity, specialty, balanced and fixed income funds, while providing the
superior customer care they should expect," said Neil Hennessy, Chairman, CEO
and President of Hennessy Advisors, Inc. "We are excited to close another
successful acquisition where we believe the shareholders of the acquired
funds, the shareholders of Hennessy Funds, and the shareholders of Hennessy
Advisors, Inc. can all benefit. This transaction demonstrates our continued
commitment to actively pursue opportunities to grow our business, especially
in this slower-growing economy," he added.

About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment manager of a broad
range of domestic equity, specialty, balanced and fixed income products.
Hennessy Advisors, Inc. is committed to its consistent and repeatable
investment process, combining proven stock selection strategies with a highly
disciplined, team-managed approach, and to superior service to shareholders.

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.

SOURCE Hennessy Advisors, Inc.

Website: http://www.hennessyadvisors.com
Contact: Tania Kelley, Hennessy Advisors, Inc., 1-800-966-4354, or
+1-415-899-1555