  We report on two Chandra observations, and a simultaneous Hubble Space
Telescope ultraviolet observation, of the dwarf Seyfert 1 galaxy NGC 4395. Each
Chandra observation had a duration of ~30 ks, with a separation of ~50 ks. The
spectrum was observed to harden between these observations via a scaling down
of the soft-band flux. The inter-observation variability is in a different
sense to the observed variability within each observation and is most likely
the result of increased absorption. Spectral variations were seen during the
first observation suggesting that the X-ray emission is produced in more than
one disconnected region. We have also re-analyzed a ~17 ks Chandra observation
conducted in 2000. During the three Chandra observations the 2-10 keV flux is
about a factor of 2 lower than seen during an XMM-Newton observation conducted
in 2003. Moreover, the fractional variability amplitude exhibited during the
XMM-Newton observation is significantly softer than seen during the Chandra
observations. A power-spectral analysis of the first of the two new Chandra
observations revealed a peak at 341s with a formal detection significance of
99%. A similar peak was seen previously in the 2000 Chandra data. However, the
detection of this feature is tentative given that it was found in neither the
second of our two new Chandra observations nor the XMM-Newton data, and it is
much narrower than expected. The Hubble Space Telescope observation was
conducted during part of the second Chandra visit. A zero-lag correlation
between the ultraviolet and X-ray fluxes was detected with a significance of
about 99.5%, consistent with the predictions of the two-phase model for the
X-ray emission from active galactic nuclei.
