Hennessy Advisors, Inc. to Acquire Assets of Two SPARX Japan Funds

NOVATO, Calif., June 24 /PRNewswire-FirstCall/ -- Hennessy Advisors, Inc. (OTC
Bulletin Board: HNNA) today announced that it has signed a definitive
agreement with SPARX Investment & Research, USA, Inc. to acquire its assets
related to the management of the SPARX Japan Fund and SPARX Japan Smaller
Companies Fund (the "SPARX Funds"). Pursuant to the proposed transaction,
Hennessy Advisors will become the investment manager to the SPARX Funds, and
the Hennessy Funds trustees will become the trustees of the SPARX Funds. The
SPARX Funds have approximately $65 million in assets.

Upon completion of the transaction, which is subject to the approval of SPARX
Funds' current trustees and shareholders, Hennessy Advisors will manage the
SPARX Funds and they will be renamed the Hennessy Select SPARX Japan Fund and
Hennessy Select SPARX Japan Smaller Companies Fund. Hennessy Advisors will
retain SPARX Asset Management Co., Ltd., located in Tokyo, as the Funds'
sub-advisor to manage the portfolios of the two funds. The transaction is
expected to be completed by the end of September, 2009.

"We look forward to welcoming the SPARX shareholders and the SPARX Asset
Management team to the Hennessy Funds Select Series family, and we are
thrilled to begin offering our first International mutual fund," said Neil
Hennessy, Chairman, CEO and President of Hennessy Advisors, Inc. Hennessy
Funds' President, Kevin Rowell, added, "This fine addition to our Select
Series significantly broadens the Hennessy Funds product offering and allows
us to showcase the talents of an outstanding Tokyo-based asset manager."

"We are pleased to enter into this partnership with Hennessy Advisors," said
Shuhei Abe, Founder, Portfolio Manager and Chairman for SPARX Asset Management
Co., Ltd. "We believe that this partnership will offer SPARX funds
shareholders continued strong investment management and performance through
our local investment intelligence and expertise in Japan, combined with
Hennessy Advisor's superior knowledge, customer service and business
management in the United States," he added.

About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment advisor to an entire
family of mutual funds. Hennessy Advisors, Inc. is committed to their
time-tested stock selection strategies and disciplined money management
approach.

About SPARX
SPARX Investment & Research, USA, Inc. is a wholly owned subsidiary of SPARX
Group Co. Ltd., a publicly traded asset manager based in Tokyo, Japan. Since
its founding in 1989, SPARX Group has been focused on providing clients with
access to the best investment opportunities in Japan and throughout Asia
through their deep understanding of local companies, countries and markets, as
well as their unrivalled access to management.

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.

In soliciting shareholder approval of the transaction, SPARX Asia Fund trust
and its trustees, Hennessy Advisors, Inc., SPARX Investment & Research, USA,
Inc. and SPARX Asset Management Co., Ltd. may be deemed to be participants in
the solicitation. Shareholders of SPARX Funds should read the proxy statement
that will be filed in connection with the solicitation because it will contain
important information, including a description of any direct or indirect
interest of the participants in the solicitation. The proxy statement will be
mailed to SPARX Funds shareholders, and that along with other relevant
documents (when available) may be obtained free of charge from the SEC's
website at www.sec.gov or by calling 1-800-966-4354.

Available Topic Expert(s): For information on the listed expert(s), click
appropriate link.
Neil J. Hennessy
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=36873

SOURCE Hennessy Advisors, Inc.

Tania Kelley of Hennessy Advisors, Inc., 1-800-966-4354, +1-415-899-1555