MONTREAL, CANADA (TSX: ARA), a Canadian medical device company and a leader in optical molecular imaging products for the healthcare and pharmaceutical industries, announced today that on Wednesday, May 7, 2008, Mr. Sebastien Gignac, ART's President and Chief Executive Officer, will present an update on the Company's recent developments at the BioFinance investor conference to be held at the Toronto Marriott Eaton Centre Hotel, located at 525 Bay Street in Toronto, Canada. Mr. Gignac's presentation will take place at 9:30 a.m. (EST) in the Trinity II room.

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� 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� optical medical imaging device is designed to improve the diagnosis and treatment of breast cancer. Finally, the Fenestra� 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).

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

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