Ecopetrol S.A. Clarifies Information Concerning Distribution in Dollars of
Third Dividend Payment for 2010

    


    
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<p><span class="xn-location">BOGOTA</span>, <span class="xn-location">Colombia</span>, <span class="xn-chron">Oct. 14</span> /CNW/ -- Ecopetrol S.A. (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP) ("Ecopetrol" or the "Company") hereby clarifies information published by certain media sources concerning the Company's third dividend payment for 2010.</p>
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<p>In order to avoid pressure on the Colombian foreign exchange market, Ecopetrol and the Finance Ministry have agreed that the third dividend payment corresponding to the Colombian Nation will be made in dollars in foreign accounts.</p>
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<p>The aforementioned measure only applies to shares belonging to the Nation (89.9% of all shares), and all  of the Company's other shareholders will receive their dividends in the usual manner in Colombian pesos.</p>
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<p>Ecopetrol 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 <span class="xn-location">Brazil</span>, <span class="xn-location">Peru</span> and the <span class="xn-location">United States</span> Gulf Coast, and owns the main refineries in <span class="xn-location">Colombia</span>, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and it is entering into the biofuels business.</p>
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<p>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.</p>
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    Contact us for any additional information:
    Investor Relations
    Alejandro Giraldo
    Phone: [phone]
    Email: [email protected]
    
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    Media Relations (Colombia)
    Mauricio Tellez
    Phone: + 571-2345377
    Fax: [phone]
    Email: [email protected]
    
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    Website: www.ecopetrol.com.co





    

For further information: Investor Relations: Alejandro Giraldo, +011-571-234-5190, [email protected], or Media Relations (Colombia): Mauricio Tellez, +011-571-2345377, +011-571-2344480 (Fax), [email protected] Web Site: http://www.ecopetrol.com.co