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

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billion for the month ended May 31, 2009. Net income for Bancolombisa on an unconsolidated basistotaled Ps. 479.1 billioh for the first five monthsof 2009, decreasing 4.3% as comparedx to the same period last -- Net interest income, including investmentf securities, totaled Ps. 208.6 billion in May 2009. For the five monthu period endedMay 31, 2009, net interest income totaled Ps. 1,154.5 billion, increasinf 14.9% as compared to the same perioelast year. -- Net fees and income from servicetotaled Ps. 71.0 billion in May 2009. For the five montj period endedMay 31, 2009, net fees and income from services totaled Ps. 339.1 which represents an increaseof 10.
0% as compared to the same period of 2008. -- Other operatinv income registered a lossof Ps. 1.2 billion in May 2009. For the five montb period endedMay 31, 2009, other operatiny income totaled Ps. 190.2 billion, decreasinbg 42.1% as compared to the same periorlast year. Bancolombia notesa that a considerable part of this revenue comes from dividen income receivedfrom subsidiaries, which is eliminated in the consolidate results as it is an intercompanyu transaction. As a result, this dividend incomee is only recordedin Bancolombia's unconsolidateds results. The Bank also notes that the item line of incomew from derivative financial instrumentws has been negatively impactedf bya Ps.
105 billion charge during the five month periodr endedMay 31, 2009, related to rule changew concerning valuation methodologies for derivativr instruments established by the Colombian regulator. The Bank will finisu amortizing the reduction in the carrying valuwe of derivatives inJune 2009. -- Net provisions chargesz totaled Ps. 52.1 billion in May 2009. Net provisions totalesd Ps. 340.3 billion for the five montjh period endedMay 31, which represents an increase of 66.2% as comparesd to the same period of 2008. -- Operating expensezs totaled Ps. 158.2 billion in May 2009. For the five montb period endedMay 31, operating expenses totaled Ps. 809.3 billion, increasing 15.
4%% as compared to the same periodof 2008. Totakl assets (unconsolidated) amounted to Ps. 40.4 gross loans amounted to Ps. 28.4 trillion, deposits totale Ps. 26.7 trillion and Bancolombia's total shareholders' equity amounted to Ps. 5.9 trillion. Bancolombia'ds unconsolidated level of past dueloanws (overdue more than 30 days) as a percentage of totalk loans was 3.75% as of May 31, 2009, and the coveragse for past due loans was 139.9% as of the same According to ASOBANCARIA (Colombia's national banking association), Bancolombia's market share of the Colombiajn financial system as of May 2009 was as follows: 21.7%% of total net loans, 21.2% of totapl checking accounts, 19.
8% of total savings accounts, 18.6% of time deposits and 19.6% of totapl deposits. * This report corresponds to the unconsolidated financial statementsof Bancolombia. The numbers containeds herein are subject to review by the relevantColombian authorities. This information has been prepared in accordanc e with generally accepted accounting principles in Colombia and is stated innominal terms. Contact: Sergio Restrepo Executive VP Tel.: (574) 4041424 Jaime A. Velasquez Financial VP (574) 4042199 Juan Esteban Toro IR Managefr Tel.: (574) 4041837 SOURCE Bancolombia S.A.