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, announces that its strategic review
process has culminated in ART entering into an agreement today with Dorsky
Worldwide Corp. ("Dorsky") to restructure ART's balance sheet and share capital
and position it to continue in business.


The agreement contemplates that ART will file a proposal (the "Proposal") to its
unsecured creditors (the "Unsecured Creditors") under the Bankruptcy and
Insolvency Act ("BIA") through KPMG Inc. (the "Trustee"). The meeting at which
the Unsecured Creditors will vote on the Proposal is expected to be held on
December 7, 2009 (the "Meeting"). The Proposal will provide, among other things,
for the distribution of $375,000 to ART's Unsecured Creditors.


The Proposal will also provide for the repayment of certain claims of secured
creditors of ART, for the cancellation of all existing issued and outstanding
equity in the capital of ART, including any and all issued and outstanding
common or preferred shares of ART of every classes and series, and any and all
warrants, options and any agreement to purchase any of the foregoing, and for
the issuance of a new class of voting common shares of ART, representing 100% of
the new voting common shares of ART, in favour of Dorsky. Holders of the
existing equity of ART will not receive any payment or other compensation with
respect to such equity.


These announcements follow the announcement made on November 2, 2009 that ART
filed on that day a notice of intention to make a proposal under the BIA. As
authorized pursuant to an order of the Quebec Superior Court, ART also entered
into a loan agreement with Dorsky for an interim financing of up to $1,200,000.
The interim financing was put in place to support ART's ongoing operations by
providing additional short-term liquidity to the company while allowing KPMG LLP
and ART to pursue the strategic review process and continue soliciting purchase
offers for the business and assets of ART.


Moreover, ART was also informed today that the Autorite des marches financiers
issued a cease trade order (the "Cease Trade Order") against ART on November 19,
2009 since ART has not filed interim financial statements and interim
management's discussion and analysis as prescribed by National Instrument 51-102
- Continuous Disclosure Obligations for the period ending September 30, 2009
within the time required. The Cease Trade Order requires ART, its
securityholders and any other person to cease any activity in respect of a
transaction in securities 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).
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