MEDELLIN, Colombia, Nov. 20 /PRNewswire-FirstCall/ -- Pursuant to Resolution No. 37288 notified today, the Superintendency of Industry and Trade (the "Superintendency") confirmed a sanction of Ps. 207 million imposed on August 3, 2007 against BANCOLOMBIA S.A. ("Bancolombia"). The sanction was imposed after Bancolombia failed to comply with an information request made by the Superintendency. Bancolombia considered that the information request was inappropriate at the time.
Bancolombia is currently analyzing the possibility of contesting the sanction before the appropriate forum. Bancolombia will nevertheless provide the requested information to the Superintendency.