Resolution of the Superintendency of Finance

Jun 22, 2007, 01:00 ET from Bancolombia, S.A.

    MEDELLIN, Colombia, June 22 /PRNewswire-FirstCall/ -- In accordance
 with Decree 3139 of 2006, Bancolombia S.A. (NYSE:   CIB) ("Bancolombia")
 hereby informs that the Superintendency of Finance imposed an institutional
 sanction on Bancolombia which consisted in a warning relating to the delay
 in the delivery of certain information about Conavi S.A. necessary for the
 development of the reference model of the Credit Risk Management System
 ("Sistema de Administracion de Riesgo Crediticio SARC") by the Colombian
 Superintendency of Finance.

SOURCE Bancolombia, S.A.