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New Vice President of Strategy

BOGOTA, Oct. 13 /PRNewswire-FirstCall/ -- Economist Camilo Marulanda was appointed the new Vice President of Strategy of Ecopetrol S.A. (NYSE: EC, BVC: ECOPETROL) ("Ecopetrol" or the "Company"), replacing economist Alvaro Vargas, who was appointed as Chief Executive Officer of Hocol by its Board of Directors.

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Camilo received an economics degree from Universidad de los Andes, with a specialization in Marketing. He is currently enrolled in an MBA program at the same university. He joined the Company six years ago, and has held various positions, such as Marketing Director, National Trade Manager and Vice President of Supply and Marketing.

His professional accomplishments include the development of new products and markets as well as the structuring and execution of the Bioenergy and Ecodiesel biofuel investment projects. He was also part of the team that led the acquisition of Propilco. Additionally, he was in charge of the structuring and implementation of the Company's customer service improvement plan, which contributed to the Company reaching international excellence standards (90%) based on the relevant indicator. According to the Great Place To Work Survey, his improvements in terms of working climate exceeded the goals established for 2008 (81.5%).

His main challenge as Vice President of Strategy will be to consolidate the strategies of the Company's Corporate Group, with a focus on adding value.

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

    Media Relations (Colombia)
    Mauricio Tellez
    Phone: + 571-2345377
    Fax: +571-2344480


SOURCE Ecopetrol S.A.

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