Ecopetrol S.A. Announces Amounts of Second and Third 2009 Dividend Payments

BOGOTA, Aug. 14 /PRNewswire-FirstCall/ -- Ecopetrol S.A. announced that the pending 2009 dividend payments will amount to COP$72.60 per share, payable from August 27, 2009 and from December 15, 2009, respectively. These dividend payments relate to the COP$220 per share dividend that was approved by the Company's General Shareholders' Assembly on March 26, 2009, to be paid in three installments. The first installment for COP$74.80 per share was paid this past April.

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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: [phone] Email: [e-mail] Media Relations (Colombia) Mauricio Tellez Phone: + 571-234-5377 Fax: [phone] Email: [e-mail] Website: http://www.ecopetrol.com.co/

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Ecopetrol S.A.

CONTACT: Investor Relations, Alejandro Giraldo, +011-571-234-5190,
[e-mail]; or Media Relations, Colombia, Mauricio Tellez,
+011-571-234-5377, or Fax, +011-571-234-4480, [e-mail], both
of Ecopetrol

Web site: http://www.ecopetrol.com.co/