BANCOLOMBIA Reports Unconsolidated Net Income of Ps 269,267 Million During the First Six Months of 2005

Jul 11, 2005, 01:00 ET from BANCOLOMBIA, S.A.

    MEDELLIN, Colombia, July 11 /PRNewswire-FirstCall/ -- BANCOLOMBIA reported
 unconsolidated net income of Ps 36,524 million for the month ended June 30,
 2005. For the first six months of 2005 the Bank reported accumulated net
 income of Ps 269,267 million, 43.3% higher than for the same period in 2004*.
     Total net interest income, including investment securities, amounted to Ps
 97,647 million in June 2005 and Ps 526,208 million for the six-month period
 ended June 30, 2005. Additionally, total net fees and income from services
 amounted to Ps 31.177 million in June 2005 and Ps 174.198 million for the
 first six months of 2005.
     Total assets amounted to Ps 14.6 trillion in June 2005, 21.2% higher than
 the reported in June 2004. Total deposits increased approximately 21.8% to Ps
 8.67 trillion over the last twelve months. BANCOLOMBIA's total shareholders'
 equity amounted to Ps 2.04 trillion in June 2005, which constitutes a 28.0%
 increase over the Ps 1.59 trillion reported in June 2004.
     BANCOLOMBIA's (unconsolidated) level of past due loans as a percentage of
 total loans was 1.62% as of June 30, 2005, and the level of allowance for past
 due loans was 263%.
     Market Share
     According to ASOBANCARIA (Colombia's national banking association),
 BANCOLOMBIA's market share of the Colombian Financial System in June 2005 was
 as follows: 12.0% of total deposits, 14.0% of total net loans, 10.3% of total
 savings accounts, 18.1% of total checking accounts and 10.8% of total time
     * This report corresponds to the interim financial statements of
       BANCOLOMBIA, which are subject to review by the Superintendency of
       Banking.  The information contained herein has been prepared in
       accordance with generally accepted accounting principles (GAAP) in
       Colombia, and is expressed in nominal terms and has not been audited.
     This release contains statements that may be considered forward-looking
 statements within the meaning of Section 27A of the U.S. Securities Act of
 1933 and Section 21E of the U.S. Securities Exchange Act of 1934.  All
 forward-looking statements, whether made in this release or in future filings
 or press releases or orally, address matters that involve risks and
 uncertainties; consequently, there are or will be factors that could cause
 actual results to differ materially from those indicated in such statements.