Bancolombia S.A. Announces Successful Offering of Ordinary Notes

MEDELLIN, Colombia, July 9 /PRNewswire-FirstCall/ -- Bancolombia S.A.
(NYSE: CIB) ("Bancolombia") successfully completed the local public offering
of tranche 3 of Bonos Ordinarios Bancolombia (the "Bancolombia Ordinary
Notes") for an aggregate principal amount of five hundred billion Colombian
pesos (Ps. 500 billion) (approximately US$ 167 million)*. Bancolombia
initially offered the Bancolombia Ordinary Notes with an aggregate principal
amount of three hundred fifty billion pesos (Ps. 350 billion) and with an
over-allotment option of one hundred fifty billion pesos (Ps. 150 billion).
The over-allotment option was fully exercised. This issuance and offering is
the third and final of multiple and successive issuances of Ordinary Notes
which are limited up to an aggregate principal amount of one trillion five
hundred billion Colombian pesos (Ps. $1,500 billion).
The subscription for today's offering was for one trillion one hundred
seventy two billion Colombian pesos (Ps. 1,172 billion) equivalent to
approximately 3.3 times the size of the offering.
The Ordinary Notes are issued in registered form ("a la orden") and
negotiable in the secondary market and have the following terms:
SERIES MATURITY COUPON RATE AGGREGATE PRINCIPAL
AMOUNT (Ps. Million)
I1.5 18 months IBR** + 1.49% N.M.V 177,200
B2 2 years DTF*** + 1.40% T.A. 120,756
A3 3 years 7.89 % E.A. 53,310
B5 5 years DTF*** + 2.40% T.A. 53,298
C5 5 years IPC**** + 4.80% E.A. 51,677
C10 10 years IPC**** + 5.74% E.A. 43,759

* Representative Market Rate: July 8, 2009 Ps 2,090.35 = US$1

** IBR: "Indicador Bancario de Referencia" (a reference interest rate
which acts as a reference of overnight and one-month interbank loans).
*** DTF: a reference interest rate that represents the weighted average of
the interest rates for 90 day CDs offered by the Colombian financial system.
**** IPC: Consumer Price Index
The entire proceeds from the offering will be used for general corporate
purposes of Bancolombia, including all the business and operational
transactions available to banking institutions in accordance with the terms
and requirements established by applicable law.
The lead coordinator and lead book-running manager for the transaction was
Banca de Inversion Bancolombia S.A. Corporacion Financiera. Valores
Bancolombia S.A., Interbolsa S.A. and Serfinco S.A. also participated in the
transaction as book-running managers.
Duff & Phelps de Colombia S.A. rated the Third Offering as AAA.
SOURCE Bancolombia S.A.

Sergio Restrepo, Executive VP, +011-5744041424, or Jaime A. Velasquez,
Financial VP, +011-574-4042199, or Juan E. Toro, IR Manager, +011-574-4041837,
all of Bancolombia