NEWS RELEASE - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


ART Advanced Research Technologies Inc. ("ART" or the "Corporation") (TSX:ARA),
a Canadian medical device company and a leader in optical molecular imaging
products for the healthcare and pharmaceutical industries, is pleased to
announce that it has closed a private placement of US$1.1 million in convertible
preferred shares with private investors. ART has obtained all necessary
regulatory approvals, including that of the Toronto Stock Exchange. This private
placement is made without any financial intermediary. ART intends to use the net
proceeds of the financing as working capital.


The private placement of an aggregate of 7,008,868 preferred shares was made at
a subscription price of C$0.16 per preferred share, representing approximately
110% of the volume weighted average trading price of ART's common shares traded
on the Toronto Stock Exchange for the 10 trading days immediately preceding the
execution of the subscription agreements. The preferred shares are entitled to a
cumulative dividend of 7% of the issue price per preferred share, payable as and
when declared by the directors of the Corporation. At the option of the
Corporation, the preferred shares are redeemable at the issue price plus the
accrued but unpaid dividends on the preferred shares and are convertible at any
time into common shares at a fixed conversion rate of 0.95 common shares for
each preferred share. The Corporation may also force the conversion of the
preferred shares into common shares at the conversion rate above upon the
occurrence of certain events.


This press release is not an offering of securities for sale in the United
States. The preferred shares have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an exemption from the registration requirements of that
Act.


About ART

ART Advanced Research Technologies Inc. is a leader in molecular imaging
products for the healthcare and pharmaceutical industries. ART has developed
products in medical imaging, medical diagnostics, disease research, and drug
discovery with the goal of bringing new and better treatments to patients
faster. The Optix(R) optical molecular imaging system, designed for monitoring
physiological changes in living systems at the preclinical study phases of new
drugs, is used by industry and academic leaders worldwide. The SoftScan(R)
optical medical imaging device is designed to improve the diagnosis and
treatment of breast cancer. Finally, the Fenestra(R) line of molecular imaging
contrast products provides image enhancement for a wide range of preclinical
Micro CT applications allowing scientists to see greater detail in their imaging
studies, with potential extension into other major imaging modalities. ART is
commercializing some of these products in a global strategic alliance with GE
Healthcare, a world leader in mammography and imaging. ART's shares are listed
on the TSX under the ticker symbol ARA. For more information on ART, visit our
website at www.art.ca.


This press release may contain forward-looking statements subject to risks and
uncertainties that would cause actual events to differ materially from
expectations. These risks and uncertainties are described in the most recent
Annual Information Form and the financial statements for the year ended December
31, 2007, available on SEDAR (www.sedar.com).
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