Bancolombia Announces Resolution of the Superintendency of Commerce and Industry

August 08, 2007, 1:19 a.m. EDT 1 Min Read

MEDELLIN, Colombia, Aug. 3 /PRNewswire-FirstCall/ -- TheSuperintendency of Commerce and Industry issued Resolution 23299, wherebyit imposed on Bancolombia S.A. ("Bancolombia") a fine in the amount of Ps207 million (approximately US$ 105,737) (1). The fine was imposed inconnection with a request for information made in an administrativeproceeding in which Bancolombia is not involved, and which we considerinappropriate pursuant to the applicable law. Pursuant to the applicable law, the decision that imposes the finecould be appealed. (1) Exchange rate August 3, 2007 Ps 1,957.68 = US$ 1

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