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Ecopetrol S.A. Notes Exchange Offer and Identification Codes

BOGOTA, Colombia, Sept. 10 /PRNewswire-FirstCall/ -- Ecopetrol S.A., (the "Company") (NYSE: EC), announced on September 3, 2009 an offer to exchange (the "Exchange Offer") registered 7.625% Notes due 2019 (the "New Notes") for up to U.S.$1,500,000,000 aggregate principal amount of its 7.625% Notes due 2019 (the "Old Notes"), upon the terms and subject to the conditions described in the prospectus dated September 3, 2009 (the "Prospectus"). The Exchange Offer is being made to satisfy the Company's obligations under the Registration Rights Agreement referred to in the Prospectus.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090209/ARM001LOGO )

The following table contains information relating to the Old Notes and New Notes, including their respective identification codes:

     CUSIP Nos. of   ISIN Nos. of   CUSIP No. of    ISIN No. of
      Old Notes       Old Notes      New Notes       New Notes

      279158AA7      US279158AA73    279158AB5      US279158AB56
     (Rule 144A)     (Rule 144A)
      P3661PAA9      USP3661PAA95
       (Reg. S)        (Reg. S)


         Old Notes             New Notes that have been registered
                                   under the Securities Act

      U.S.$1,500,000,000              U.S.$1,500,000,000

    7.625% Notes due 2019           7.625% Notes due 2019

Notes must be tendered in minimum denominations of U.S.$1,000 or integral multiples of U.S.$1,000 in excess thereof.

The exchange offer commences on September 3, 2009 and expires at noon, New York City time, on October 2, 2009, unless extended by the Company. Tenders of Old Notes may be withdrawn at any time prior to the scheduled expiration date of the Exchange Offer. The Company will not receive any proceeds from the Exchange Offer. The terms of the New Notes to be issued are identical to the Old Notes, except for the transfer restrictions and registration rights relating to the Old Notes. The Company will make an application to list the New Notes on the New York Stock Exchange.

The Bank of New York Mellon is the exchange agent. There is no letter of transmittal for the Tender Offer. All tendered Old Notes and other related documents should be directed to the exchange agent, by book-entry transfer as detailed under "The Exchange Offer-Procedures for Tendering Old Notes" in the Prospectus. Questions, requests for assistance and requests for copies of the Prospectus should be addressed to the exchange agent as follows: 101 Barclay Street, Floor 4 East, New York, New York 10286, Attention: International Corporate Trust; Email: william.potes@bnymellon.com.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the New Notes, nor have they determined if the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

This announcement shall not constitute an offer or a solicitation to exchange, nor shall there be any exchange of the Old Notes in any jurisdiction in which such offer, solicitation or exchange would be unlawful. This announcement shall not constitute an offer or a solicitation to exchange the New Notes.

Ecopetrol is Colombia's largest integrated oil company and is among the top 40 oil companies in the world and the four largest oil companies in Latin America. Besides Colombia, where it accounts for 60% of total production, the Company is involved in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol has the principal refinery in Colombia, most of the network of oil and multiple purpose pipelines in the country, and it is considerably increasing its participation in biofuels.

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: +571-234-5190
    Email: investors@ecopetrol.com.co

    Media Relations (Colombia)
    Mauricio Tellez
    Phone: + 571-2345377
    Fax: +571-2344480
    Email: mtellez@ecopetrol.com.co

    Website: http://www.ecopetrol.com.co

SOURCE Ecopetrol S.A.

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