Bancolombia S.A. Announces Board of Directors' Decision

USA - English

• USA - English
• USA - English
• USA - English

MEDELLIN, Colombia, Jan. 29 /PRNewswire-FirstCall/ -- The Board of Directors of Bancolombia S.A. ("Bancolombia") (NYSE: CIB), in a meeting held today, adopted the following decisions:

General Shareholders Meeting of Bancolombia S.A.

The Board of Directors of Bancolombia called the General Shareholders Meeting to be held on March 1, 2010, at 10:00 am in the Hotel Intercontinental located at Calle 16 No. 28 - 51 Km 5 Via Las Palmas, Medellin, Colombia.

Profits Distribution Project

The Board of Directors also decided to propose to the General Shareholders Meeting on the profits obtained in 2009, a dividend equivalent to COP 636.80 per share to be paid as follows: COP 159.20 per share and per quarter, on the first business day of each quarter (April 5, July 1, and October 1 of 2010 and January 4 of 2011).

This proposed dividend would represent an increase of 2.05% over the dividends paid in 2009.

    The Board of Directors also proposed an increase in the legal reserves of
COP 411,646 million.

    Contacts
    Sergio Restrepo
    Executive VP
    Tel.: (574) 4041424

    Jaime A. Velasquez
    Financial VP
    Tel.: (574) 4042199

    Juan E. Toro
    IR Manager
    Tel.: (574) 4041837

SOURCE Bancolombia S.A.