Ecopetrol's Board of Directors Has Three New Members


    



    
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<p><span class="xn-location">BOGOTA</span>, <span class="xn-location">Colombia</span>, <span class="xn-chron">Aug. 24</span> /CNW/ -- Ecopetrol S.A. (NYSE:   EC; BVC: ECOPETROL; TSX: ECP; BVL: EC) has announced that the Minister of Finance and Public Credit, <span class="xn-person">Juan Carlos Echeverry</span>; the Minister of Mines and Energy, Carlos Rodado; and the Director of the National Planning Department, Hernando <span class="xn-person">Jose Gomez</span>, were appointed as members of Ecopetrol's Board of Directors during yesterday's ordinary board meeting.</p>
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    (Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO )
    (Logo: http://www.newscom.com/cgi-bin/prnh/20090209/ARM001LOGO )

    
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<p>The new members replace the heads of the same departments in the previous administration, namely <span class="xn-person">Oscar Ivan Zuluaga</span>, Hernan Martinez, and <span class="xn-person">Esteban Piedrahita</span>.</p>
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<p>Ecopetrol is Colombia's largest company and a vertically integrated crude oil and natural gas company. Ecopetrol is among the top 40 oil companies in the world and the four largest oil companies in Latin America. In addition to having operations in <span class="xn-location">Colombia</span> where it generates over 60% of the country's production, it has operations in <span class="xn-location">Brazil</span>, <span class="xn-location">Peru</span> and the US (Gulf of <span class="xn-location">Mexico</span>).  Ecopetrol owns the largest refinery in <span class="xn-location">Colombia</span>, the majority of the network of pipelines and polyducts, and continues to significantly increase its participation in biofuels.</p>
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    Forward looking statements

    
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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 Company 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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    For additional information, please contact:
    Investor Relations Director
    Alejandro Giraldo
    Telephone: +571-234-5190
    Email: investors@ecopetrol.com.co
    
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    Media Relations
    Mauricio Tellez
    Telephone: + 571-2345377
    Fax: +571-2344480
    Email: mtellez@ecopetrol.com.co
    Website: www.ecopetrol.com.co




    

For further information: For further information: Investors, Alejandro Giraldo, +571-234-5190, investors@ecopetrol.com.co; or Media, Mauricio Tellez, + 571-2345377, fax, +571-2344480, mtellez@ecopetrol.com.co Web Site: http://www.ecopetrol.com.co


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