Bancolombia S.A. Announces Sale of Total Interest in Multienlace S.A.

MEDELLIN, Colombia, June 6 /PRNewswire-FirstCall/ -- Bancolombia S.A.
("Bancolombia") announces the execution of an agreement whereby it sells 100%
of its direct and indirect interest in Multienlace S.A. to Stratton Spain S.L.
("Stratton"), equating to approximately 98% of Multienlace S.A. The purchase
price is Ps. 105,882.565 million and the sale remains subject to customary
closing conditions.
If and when consummated, this transaction will represent a net income of
Ps. 57,686 million to Bancolombia and its subsidiaries.
Multienlace S.A. provides business process outsourcing and contact center
services to corporate clients. Stratton is a Spanish company that is also a
shareholder of Action Line Cordoba S.A. (based in Argentina), and whose
investors are a group led by Eton Park Capital Management.
SOURCE Bancolombia S.A.

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