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Ecopetrol Announces New Vice President of Supply and Marketing

BOGOTA, Dec. 15 /PRNewswire-FirstCall/ -- Ecopetrol S.A. (NYSE: EC; BVC: ECOPETROL; BVL: EC) ("Ecopetrol" or the "Company") today announced that the Engineer Claudia L. Castellanos R. has been appointed as the new Vice President of Supply and Marketing. Through her appointment she becomes the first woman at Ecopetrol who has reached an Executive Vice President position for Downstream activities. She is replacing the Economist Camilo Marulanda, who has been appointed Vice President of Strategy and Growth.

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

Ms. Castellanos R. received a chemical engineering degree from the Universidad Industrial de Santander and also obtained a specialization in Energy Resources Management from the Universidad Autonoma de Bucaramanga. She has been with the Company for 22 years, during which time she has had various accomplishments, including the strategic positioning of Natural Gas within Ecopetrol's business plan and the implementation of the Vehicular Natural Gas Program.

Her main challenges as Vice President of Supply and Marketing will involve the diversification and internationalization of the sale of Ecopetrol's crude and products and continuing the development and growth of the New Business Segment by exploring other energy sources, such as bioenergy and ecodiesel.

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: + 571-234-5377
    Fax: +571-234-4480
    Email: mtellez@ecopetrol.com.co

    Website: www.ecopetrol.com.co

SOURCE Ecopetrol S.A.

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