Suramericana de Inversiones Got Off to a Good Start in 2009 with Profits of USD 37.9...

Suramericana de Inversiones Got Off to a Good Start in 2009 with Profits of
USD 37.9 Million for the First Quarter

MEDELLIN, Colombia, April 29 /PRNewswire-FirstCall/ -- Suramericana de
Inversiones (Pink Sheets: SRMIY.PK) secured a positive level of results for
the first quarter of 2009. Profits came to USD 37.9 million, thanks to the
levels of results obtained by our subsidiaries who recorded a total of
USD 29.7 million using the equity method. The Company obtained additional
revenues of USD 10.2 million, in the form of dividends and interest, showing
an increase of 48.2% with regard to the same quarter last year; this as a
result of having merged with SIA Inversiones S.A. Also, appraisals at market
prices totaled USD 464.3 thousand, showing much less volatility than last year
since a large part of our negotiable investments were reclassified as
permanent investments during the fourth quarter of 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081020/ARM002LOGO )
At the close of March 2009, assets came to USD 3.4 billion and
shareholders' equity USD 3.2 billion. Total liabilities, on the other hand,
came to USD 214.7 million, for a total debt to equity ratio of 6.2%. This item
also includes USD 41.5 million in dividends receivable, representing an
important amount of funds to be received throughout this year.
It is important to bear in mind that the figures shown on our Income
Statement for this first quarter are not comparable with those of the same
period last year given the merger with SIA Inversiones S.A. that took place in
August 2008.
NEW ISSUE OF COMMERCIAL PAPER
At a meeting held January 29, 2009, the Board of Directors of Suramericana
de Inversiones S.A. approved an issue of commercial paper for a total of
USD 98 million, each for a nominal value of USD 393.
This public offer is aimed at investors in general including pension and
severance funds. The funds obtained from this issue shall be used to
substitute the Company's financial liabilities and to carry out operations
between its wholly-owned subsidiaries, namely: Portafolio de Inversiones
Suramericana S.A., Suramericana BVI, Corp. and Inversiones y Construcciones
Estrategicas S.A.
This issue shall consist of dematerialized securities held through Deceval
(the Colombian Centralized Securities Depository) and shall be duly listed on
the Colombian Stock Exchange.
Exchange rate USD 2,544.24 / COP as of April 1st, 2009
SOURCE Suramericana de Inversiones

Suramericana de Inversiones, +011-574-435-5735,
comsurainv@suramericana.com.co