Toronto, Ontario –  August 28, 2008 - Novadaq® Technologies Inc. (TSX: NDQ), a developer of real-time medical imaging systems and image guided therapies for the operating room, today announced that Dr. Rick Mangat, Vice President and General Manager, will present an update on the Company’s business at the Thomas Weisel Partners Healthcare Conference on Thursday, September 4, 2008 at 9:45 a.m. ET at the Four Seasons Hotel in Boston, MA.

Dr. Mangat’s presentation will be webcast live and archived for 30 days on the Company’s website at http://www.novadaq.com under the "Events" tab in the Investors section.

About Novadaq Technologies Inc.

Novadaq discovers, develops and commercializes real-time imaging and image guidance systems for use in the operating room.  Novadaq’s SPY® Imaging System uniquely enables surgeons to visualize blood vessels, tumors, tumor margins and the lymphatic system in real-time during surgery.  This core technology is now being applied to and across multiple surgical markets such as cardiac, plastic, reconstructive, urological, general, micro and transplant.  The PINPOINT™ System for endoscopic autofluorescence imaging is Novadaq’s first minimally invasive product.  PINPOINT allows surgeons to differentiate between healthy and cancerous tissue in the lung and other hollow organs.  Expanding its portfolio of minimally invasive products, Novadaq’s SPY” scope combines the typical features of a standard endoscope with the capabilities of SPY imaging. The SPY” scope may unlock the full potential of certain minimally invasive surgeries by effectively addressing the limited field of vision that has until now constrained surgeon adoption.  Novadaq also leverages its core technology to offer the OPTTX® System, which is designed for the diagnosis, evaluation and treatment of wet Age-related Macular Degeneration (AMD).  Novadaq is the exclusive United States distributor of PLC Medical’s CO2 HEART LASER™ System, which is used in the same cardiac procedures as the SPY System. For more information, please visit the company's website at www.novadaq.com.

Forward-Looking Statements

Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Novadaq's current beliefs as well as assumptions made by and information currently available to Novadaq and relate to, among other things, results of future clinical tests of PINPOINT and the SPY System, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  Due to risks and uncertainties, including the risks and uncertainties identified by Novadaq in its public securities filings actual events may differ materially from current expectations. Novadaq disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Company:
Arun Menawat, PhD, MBA
President & CEO
Novadaq Technologies Inc.
905-629-3822 X 202
amenawat@novadaq.com

Investor:
Stephen Kilmer
Managing Partner
Kilmer Lucas Inc.
905-690-2400 X 21
stephen@kilmerlcuas.com

Media:
Leonard Zehr
Senior Partner
Kilmer Lucas Inc.
905-690-2400 X 41
len@kilmerlucas.com