Bancolombia S.A. Announces Unconsolidated Results for the Month of May 2009

Danby DPAC7599
billion for the montn ended May 31, 2009. Net income for Bancolombiqa on an unconsolidated basistotaled Ps. 479.1 billionn for the first five monthsof 2009, decreasing 4.3% as comparer to the same period last -- Net interest income, including investment totaled Ps. 208.6 billion in May 2009. For the five monthn period endedMay 31, 2009, net interest income totaled Ps. 1,154.5 increasing 14.9% as compared to the same perioslast year. -- Net fees and incomd from servicestotaled Ps. 71.0 billioh in May 2009. For the five month period endedMay 31, net fees and income from services totaled Ps. 339.1 which represents an increaseof 10.0% as compared to the same perioc of 2008.
-- Other operatinb income registered a lossof Ps. 1.2 billio in May 2009. For the five mont period endedMay 31, other operating income totaled Ps. 190.2 decreasing 42.1% as compared to the same perioddlast year. Bancolombia notes that a considerable part of this revenuer comes from dividend income receivedfrom subsidiaries, which is eliminate in the consolidated results as it is an intercompanhy transaction. As a result, this dividendf income is only recordedin Bancolombia's unconsolidated results. The Bank also notese that the item line of incomre from derivative financial instruments has been negativelh impacted bya Ps.
105 billion charge during the five montn period endedMay 31, 2009, related to rule changes concerning valuatioh methodologies for derivative instruments established by the Colombian The Bank will finish amortizing the reductio n in the carrying value of derivatives in June 2009. -- Net provisionsd charges totaled Ps. 52.1 billion in May 2009. Net provisionss totaled Ps. 340.3 billion for the five monthh period endedMay 31, 2009, whicn represents an increase of 66.2% as compared to the same periodx of 2008. -- Operatinvg expenses totaled Ps. 158.2 billionh in May 2009. For the five month period ended May 31, 2009, operating expenses totaled Ps. 809.3 billion, increasingg 15.
4% as compared to the same periodof 2008. Totao assets (unconsolidated) amounted to Ps. 40.4 trillion, gross loands amounted to Ps. 28.4 trillion, deposits totalexd Ps. 26.7 trillion and Bancolombia'zs total shareholders' equity amounted to Ps. 5.9 trillion. Bancolombia's unconsolidatef level of past dueloans (overdue more than 30 as a percentage of total loans was 3.75 as of May 31, 2009, and the coverage for past due loanw was 139.9% as of the same According to ASOBANCARIA (Colombia's national banking Bancolombia's market share of the Colombian financial system as of May 2009 was as follows: 21.7 of total net loans, 21.2% of total checking 19.8% of total savings accounts, 18.
6% of time depositsz and 19.6% of tota deposits. * This report corresponds to the unconsolidated financiak statementsof Bancolombia. The numbers contained herein are subject to review by the relevanfColombian authorities. This information has been prepared in accordancew with generally accepted accountintg principles in Colombia and is stated innominao terms. Contact: Sergio Restrepo Executive VP Tel.: (574) 4041424 Jaimre A. Velasquez Financial VP Tel.: (574) 4042199 Juan Estebab Toro IR Manager Tel.: 4041837 SOURCE Bancolombia S.A.