General Shareholders' Meeting announces its decision on the new composition of the Board of Directors

BOGOTA, Colombia, March 21, 2013 /CNW/ - Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announces that the General Shareholders' Meeting held today decided the new composition of the Board of Directors:

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Representatives from the Government of Colombia:

• Minister of Finance and Public Credit
• Minister of Mines and Energy
• Director of the National Planning Department

Independent representatives:

• Fabio Echeverri Correa
• Joaquin Moreno Uribe
• Jorge Gabino Pinzon Sanchez
• Luis Carlos Villegas Echeverri
• Amylkar Acosta Medina (representative from the hydrocarbons producing provinces)
• Roberto Steiner Sampedro (representative from the 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 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: [phone]
Email: [email protected]

Media Relations (Colombia)
Mauricio Tellez
Phone: + 571-2345377
Fax: [phone]
Email: [email protected]

Website: www.ecopetrol.com.co

SOURCE: Ecopetrol S.A.

http://www.ecopetrol.com.co

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