ART Advanced Research Technologies Inc. Announces Restructuring Agreement and Proposal to Creditors

Reported by marketwire on Saturday, 21 November 2009 (on November 21, 2009)

MONTREAL, CANADA--(Marketwire - Nov. 20, 2009) - 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.

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