MONTREAL, QUEBEC -- (MARKET WIRE) -- March 16, 2007 -- Further to its news release of February 7, 2007, 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, reports that it has repriced its previously announced private placement by increasing the price per common share from $0.35 to $0.42 per common share in light of current market conditions, further to discussions with the Toronto Stock Exchange. A fraction of 0.20 of a common share purchase warrant will also be issued to investors for each common share issued. Each warrant will allow, upon being exercised, the acquisition of an additional common share at an exercise price of $0.52, and will be exercisable for a period of three (3) years after the effective date of the subscription agreements - representing a potential additional cash infusion of up to $1.4 million.
