October 16, 2008

AdvanSource Biomaterials’ Dr. Andrew Reed Will Be a Featured Panelist at MD&M Minneapolis on October 23

AdvanSource Biomaterials Corporation (NYSE Alternext US: ASB) a leading developer of advanced polymer materials for a broad range of medical devices, announced today that Dr. Andrew Reed, Vice President of Science & Technology, will be participating as an expert panelist at the Medical Design & Manufacturing Conference (the "Conference") to be held from October 21 through October 23, 2008 at the Minneapolis Convention Center in Minnesota. Dr. Reed's presentation is scheduled to begin at 12:30PM on Thursday, October 23rd. Dr. Reed has a Ph.D. in polymer chemistry and has an extensive background in the development of polymeric materials for use in medical applications. In addition, he is the author and co-author of numerous published scientific papers.

The panel discussion provides industry focus on Advances in the Cardio Sector and will highlight the underlying material technologies available to further expand the future of these devices. The panel, chaired by Sherrie Conroy, editor of MDDI Magazine, allows a format expansion from the recently published article Advances in Cardio, in which Dr. Reed, Khristine Carroll, Global Sales Director, and Michael Adams, President and CEO, provided interviews describing AdvanSource's innovative polymer technology development and current market trends. The July 2008 article can be found on the web by searching: http://www.devicelink.com/mddi/archive/08/07/002.html.

The Company, a leading developer of advanced polymer materials for a broad range of medical devices, will be showcasing its products and services at the Medical Design & Manufacturing Show taking place Tuesday, October 21st through Thursday October 23rd at the Minneapolis Convention Center in Minneapolis, Minnesota. Representatives of the Company's senior management, engineering and marketing staff will be in attendance at booth #637 to demonstrate their leading edge technology. This technology encompasses biodurable, drug-eluting polyurethane coatings designed to adhere to both metallic and polymeric stents as well as antimicrobial polymers intended for use in manufacturing catheters and other medical devices. In addition, they will be highlighting products such as ChronoFlex(R), HydroMed(TM), and HydroThane(TM) which have been developed to overcome a wide range of design and functional challenges, from the need for dimensional stability, ease of manufacturability and demanding physical properties to overcoming environmental stress cracking (ESC) and providing heightened lubricity for ease of insertion.

About AdvanSource Biomaterials Corporation

AdvanSource Biomaterials Corporation (formerly CardioTech International, Inc.) develops advanced polymer materials which provide critical characteristics in the design and development of medical devices. The Company's biomaterials are used in devices that are designed for treating a broad range of disease states and anatomical sites. AdvanSource's business model leverages its proprietary materials science technology and manufacturing expertise in order to expand its product sales and royalty and license fee income. The Company has developed CardioPass(TM), a synthetic coronary bypass graft, which is currently in a clinical trial in Europe. More information about AdvanSource Biomaterials is available at its website: www.advbiomaterials.com.

Forward-Looking Statements:

AdvanSource believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. For further information on such risks and uncertainties, you are encouraged to review AdvanSource's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended March 31, 2008 and its Quarterly Report for the period ended June 30, 2008. AdvanSource assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.