ART Advanced Research Technologies Inc. Secures Up to $1.2 Million in Interim Financing in Connection With the Pursuit

MONTREAL, QUEBEC, Nov 02 (MARKET WIRE) --
ART Advanced Research Technologies Inc. (ART) (TSX: ARA), a Canadian
medical device company and a leader in optical molecular imaging products
for the healthcare and pharmaceutical industries, announced that earlier
today it filed a notice of intention to make a proposal to its creditors
under the Bankruptcy and Insolvency Act with KPMG Inc. in order to
provide the company with the liquidity it requires to pursue its
solicitation process. ART was also authorized pursuant to an order of the
Quebec Superior Court to enter into a loan agreement with Dorsky
Worldwide Corp. for interim financing in an amount of up to $1,200,000.

The announcement follows the hiring of KPMG LLP as financial advisor to
assist ART in examining its available strategic options, previously
announced on October 29, 2009, and KPMG LLP's analysis as to the best way
to proceed during the strategic review process in view of ART's ongoing
financial needs. The new financing will support ART's business continuity
by providing additional short-term liquidity while KPMG LLP and ART
pursue the strategic review process and continue soliciting purchase
offers for the business and assets of ART.

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, 2008, available on SEDAR (www.sedar.com).

Contacts:
ART Advanced Research Technologies Inc.
Jacques Bedard
Chief Financial Officer
514-832-0777
jbedard@art.ca
www.art.ca

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