MEDELLIN, Colombia, July 8 /PRNewswire-FirstCall/ -- Today, Bancolombia S.A. ("Bancolombia") announced the local public offering of tranche 3 of Bonos Ordinarios Bancolombia (the "Bancolombia Ordinary Notes"). This issuance and offering is the third of multiple and successive issuances of global Bancolombia Ordinary Notes which are limited to an aggregate principal amount of one trillion five hundred billion Colombian pesos (Ps. 1,500,000,000,000) (the "Third Offering"). In the Third Offering, Bancolombia will issue and offer three hundred fifty thousand (350.000) Bancolombia Ordinary Notes with an aggregate principal amount of three hundred fifty billion Colombian pesos (Ps. 350.000.000.000) (approximately US$ 167 million)*. Bancolombia may choose to increase the aggregate principal amount of the offering of Ordinary Notes by one hundred fifty billion Colombian pesos (Ps. 150.000.000.000) (approximately US$ 72 million)*, for a total amount of five hundred billion Colombian pesos (Ps. $500.000.000.000) (approximately US$ 239 million). Duff & Phelps de Colombia S.A. rated the Second Offering as AAA. * Representative Market Rate: July 8, 2009 Ps. 2,090.35 = US$ 1 DATASOURCE: Bancolombia S.A. CONTACT: Sergio Restrepo, Executive VP, Tel.: 574-4041424; or Jaime A. Velasquez, Financial VP, Tel.: 574-4042199; or Juan Esteban Toro, IR Manager, Tel.: 574-4041837

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