MEDELLIN, Colombia, Oct. 27 /PRNewswire-FirstCall/ -- At a meeting held today, the Board of Directors of Bancolombia S.A. ("Bancolombia"), authorized the acquisition of more than 25% of the assets and liabilities of Compania de Financiamiento Comercial Sufinanciamiento S.A. ("Sufi"), a subsidiary of Bancolombia (the "Authorized Transaction"). The Authorized Transaction is subject to certain regulatory approvals. The Authorized Transaction is expected to integrate Sufi's business lines, except Tarjeta Exito and leasing contracts, with Bancolombia's operations. With the Authorized Transaction, Bancolombia expects to improve Sufi's strengths, profitability and competitive advantages. The Authorized Transaction will not have a significant effect on the financial statements of Bancolombia, as Bancolombia owns directly and indirectly 99.99% of Sufi's outstanding stock. DATASOURCE: Bancolombia S.A. CONTACT: Sergio Restrepo, Executive VP, +011-574-5108668, or Jaime A. Velasquez, Financial VP, +011-574-5108666, or Juan Esteban Toro, IR Manager, +011-574-5108866, all of Bancolombia Web site: http://www.bancolombia.com.co/

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