MEDELLIN, Colombia, June 24 /PRNewswire-FirstCall/ -- On June 23, 2008,
the Board of Directors of Bancolombia S.A. ("Bancolombia") approved
amendments to the Corporate Governance Code and Code of Ethics, in order
to: (i) adopt the new regulatory requirements in Colombia for prevention
and control of money laundering and terrorism financing; (ii) include
additional provisions related to conflicts of interests that may arise in
brokerage operations with affiliates; and (iii) adopt the "Grupo
Bancolombia's Antifraud Program" as a policy and internal rule for
Bancolombia in compliance with Colombian and international regulations.

    The amended versions of the Corporate Governance Code and Code of
Ethics can be found in the Bancolombia web page at
http://www.grupobancolombia.com.co.