Bancolombia S.A. Announces Disposal of Properties Located in Medellin

MEDELLIN, Colombia, May 6 /PRNewswire-FirstCall/ -- Bancolombia S.A ("Bancolombia") announces that sold a total of 52 properties located in Medellin, properties that the Bank has received as dation in payment.

The purchasing price agreed amounted to Ps $ 11,851 million, which represent additional income for the Bank given that the value of these properties is already covered in the Bank's financial statements.

FCMN Contact: jmosquer@bancolombia.com.co

Source: Bancolombia S.A.

CONTACT: Sergio Restrepo, Executive VP, +011-574-5108668, or Jaime A.
Velasquez, Financial VP, +011-574-5108666, or Juan Esteban Toro, IR Manager,
+011-574-5108866, all of Bancolombia

Web site: www.bancolombia.com.co

2008-05-06 19:07:36 0354630 PRNEWSWIRE