Ecopetrol Will Continue to Assume the Administrative and Custodial Costs Associated With its Shares on the Colombian Stock Market

Ecopetrol Will Continue to Assume the Administrative and Custodial Costs
Associated With its Shares on the Colombian Stock Market

BOGOTA, Colombia, Oct. 26 /PRNewswire-FirstCall/ -- To further development
of the Colombian stock market and to incentivize the public's involvement in
said stock market, Ecopetrol S.A. ("Ecopetrol" or the "Company") (NYSE: EC)
announced that, as of November 1, 2009, it will continue to directly assume
the administrative and custodial costs associated with the shares of the
Company which were issued during the first round of the Company's Stock
Issuance and Placement Program. These costs are due and owing, or may become
due and owing, to the Colombian's Stock Market's Depository Agent ("DECEVAL").
As a result of Ecopetrol's decision, brokers (acting as direct participants of
DECEVAL) will not assign such costs to the Company's shareholders.
(LOGO: http://www.newscom.com/cgi-bin/prnh/20090209/ARM001LOGO )
Ecopetrol's decision does not result in any change in the shareholders'
rights, which remain unmodified to date.
For further information regarding the Company's investor relations, please
contact the Investor Relations Department at the following toll free numbers
or email address: -- Bogota: 307 7075
-- Rest of Colombia: 01 8000 11 34 34
-- Email: accionistas@ecopetrol.com.co

Ecopetrol is Colombia's largest integrated oil company and is among the
top 40 oil companies in the world and the four largest oil companies in Latin
America. Besides Colombia, where it accounts for 60% of total production, the
Company is involved in exploration and production activities in Brazil, Peru
and the United States (Gulf of Mexico). Ecopetrol has the principal refinery
in Colombia, most of the network of oil and multiple purpose pipelines in the
country, and it is considerably increasing its participation in biofuels.
This release contains forward-looking statements relating to the prospects
of the business, estimates for operating and financial results, and those
related to growth prospects of Ecopetrol. These are merely projections and, as
such, are based exclusively on the expectations of management concerning the
future of the business and its continued access to capital to fund the
Company's business plan. Such forward-looking statements depend,
substantially, on changes in market conditions, government regulations,
competitive pressures, the performance of the Colombian economy and the
industry, among other factors; therefore, they are subject to change without
prior notice.
Contact us for any additional information:
Investor Relations
Alejandro Giraldo
Phone: +571-234-5190
Email: investors@ecopetrol.com.co

Media Relations (Colombia)
Mauricio Tellez
Phone: + 571-2345377
Fax: +571-2344480
Email: mtellez@ecopetrol.com.co

Website: www.ecopetrol.com.co

SOURCE Ecopetrol S.A.

Ecopetrol Investor Relations, Alejandro Giraldo, +011-571-234-5190,
investors@ecopetrol.com.co, or Media Relations in Colombia, Mauricio Tellez,
+011-571-2345377, Fax: +011-571-2344480, mtellez@ecopetrol.com.co