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Press release from CNW Group

Decisions made in the Extraordinary Shareholders' Meeting of Ecopetrol S.A.

Wednesday, October 12, 2011

Decisions made in the Extraordinary Shareholders' Meeting of Ecopetrol S.A.18:01 EDT Wednesday, October 12, 2011 << >>BOGOTA, Colombia, Oct. 12, 2011 /CNW/ -- The Shareholders' Assembly in its extraordinary meeting held on October 12, 2011, elected Roberto Steiner to fill the vacancy of the ninth position of the Board of Directors corresponding to the representative of minority shareholders. << (Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO ) >>The Assembly also approved the appointment of Federico Renjifo as a non independent member of the Board of Directors.Ecopetrol (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP) is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 40 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice. << Contact us for any additional information: >>Investor Relations Alejandro Giraldo Phone: +571-234-5190 Email: investors@ecopetrol.com.co << >>Media Relations (Colombia) Mauricio Tellez Phone: +571-2345377 Fax: +571-2344480 Email: mtellez@ecopetrol.com.co << Website: www.ecopetrol.com.co >>For further information: Web Site: http://www.ecopetrol.com.co