Bancolombia Will Open an Agency in the U.S.A.

Apr 10, 2003, 01:00 ET from Bancolombia S.A.

    MEDELLIN, Colombia, April 10 /PRNewswire-FirstCall/ -- In order to
 consolidate the international presence of BANCOLOMBIA (NYSE:   CIB) and to
 complement the services provided by BANCOLOMBIA Panama-Cayman, the Bank will
 open an agency in the United States.
     The Federal Reserve of the United States announced its approval of the
 application of BANCOLOMBIA Colombia, to establish an agency in Miami, Florida.
 The agency will complement and expand the Bank's current business, generating
 greater opportunities for the accomplishment of international business for the
 corporate and the private banking.
     The agency will offer corporate banking, correspondent banking,
 international trade, private banking, cash management, and portfolio
 investment services. In addition, it will provide traditional banking services
 including loans, international transactions and remittance services.
     Jaime Velasquez B.
     Vice President Finance
     Tel: (574) 510 8666
     Maria A. Villa S.
     IR Manager
     Tel: (574) 510 8866
     Fax: (574) 231 7208

SOURCE Bancolombia S.A.