Bancolombia S.A. Announces Transaction of One of its Officers

MEDELLIN, Colombia, May 30 /PRNewswire-FirstCall/ -- In accordance with internal procedures, Mr. Augusto Restrepo Gomez, Administrative Vice President of Bancolombia, gives notice to Fiduciaria Helm Trust S.A. for the sale of Mr. Restrepo Gomez's units in a share portfolio (Cartera Colectiva con Pacto de Permanencia Acciones Sistema Valor Agregado) managed by said company. The units have an approximate value of Ps $ 18 million (approximately US$ 10,251)(1). The units represent shares of Bancolombia, which are part of the variable compensation of the Bank's employees.

(1) Exchange rate May 30, 2008: Ps 1,755.95 = US$ 1

First Call Analyst:
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: http://www.bancolombia.com.co/

2008-05-30 18:29:09 0374084 PRNEWSWIRE