Minutes of Banco de la Republica Board of Director’s Meeting of 28th September 2012

On 28th September, in the city of Bogota, D.C., the ordinary meeting of Banco de la Republica’s Board of Directors was held with the presence of the Minister of Finance and Public Credit Mr. Mauricio Cardenas-Santamaria, the Governor Mr. Jose Dario Uribe, and the exclusive full-time dedicated directors, Messrs. Fernando Tenjo, Carlos Gustavo Cano, Juan Jose Echavarria, Juan Pablo Zarate, and Cesar Vallejo, at which inflation and economic growth situations and their perspectives are discussed, and decisions relating with monetary policy are adopted. More information in the attached document.