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Press release from PR Newswire

Decisions from the General Shareholders Meeting of Ecopetrol S.A.

Thursday, March 22, 2012

Decisions from the General Shareholders Meeting of Ecopetrol S.A.19:51 EDT Thursday, March 22, 2012New Arrangement of the Board of Directors 2012BOGOTA, Colombia, March 22, 2012 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP), the integrated Colombian crude oil and gas company, informs the decisions made in the General Shareholders Meeting celebrated today, with regard to the new arrangement of its Board of Directors: (Logo: )The Board will be formed as follows:The Minister of the Treasury and Public Credit The Minister of Mines and EnergyThe Director of the National Department of PlanningFabio Echeverri Correa Joaquin Moreno Uribe Federico Renjifo Velez Luis Carlos VillegasAmylkar Acosta Medina  (representative of the departments of hydrocarbon production) Roberto Steiner Sampedro (representative of minority shareholders). Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 50 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 RelationsAlejandro GiraldoPhone: +571-234-5190Email: Relations (Colombia)Mauricio TellezPhone: + 571-2345377Fax: +571-2344480Email: Ecopetrol S.A.