1)
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Management
successions are a natural process in the life of corporations, the
importance of which is duly reflected in Bancolombia’s Code of Corporate
Governance.
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2)
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Several
months ago, Mr. Jorge Londoño informally expressed his desire to retire as
President of Bancolombia in the medium term so that the appropriate
actions could be initiated to ensure a smooth and organized
transition.
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3)
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Mr.
Jorge Londoño has not formally announced his intention to retire to the
Board of Directors of Bancolombia and has certainly not set a date for
retirement. As a result, he remains the President of Bancolombia until
such time as the development of a succession plan is completed in
accordance with his request, which in any case will not be this
year.
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4)
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The
undersigned recognizes with satisfaction that the preparation of a
succession plan for the presidency of Bancolombia has been initiated at a
time when the Bank has distinguished itself by its good performance,
leadership and capital strength and is enjoying widespread recognition in
the national and international
markets.
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BANCOLOMBIA
S.A.
(Registrant)
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Date: July
29, 2010
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By:
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/s/ JAIME ALBERTO VELÁSQUEZ
B.
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Name:
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Jaime
Alberto Velásquez B.
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Title:
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Vice
President of Finance
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