MATERIAL INFORMATION

Authorization for an Officer to Sell Shares

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) hereby informs that its Board of Directors, at the regular meeting held on September 16, 2016, authorized by the unanimous vote of its members to Mr. Hector Manosalva, in his capacity as Vice President of Development and Production and Alternate Legal Representative, to sell 49,380 Ecopetrol shares in his possession.

The transaction must be carried out within eight (8) business days following the date of approval, and according to Mr. Manosalva' s statement is not an operation related to speculative purposes.

Bogota, September 22, 2016

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Ecopetrol is the largest company in Colombia and is an integrated oil & gas company; it is among the top 50 oil companies in the world and among the four top ones in Latin America. Besides Colombia - where it generates over 60% of the national production - it has exploration and production activities in Brazil, Peru & the US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and most of the pipeline and multi-product pipeline network in the country, and is significantly increasing its participation in bio-fuels.

This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.

For further information, please contact: Head of Corporate Finance and Investor Relations

María Catalina Escobar Phone: (+571) 234 5190

E-mail: investors@ecopetrol.com.co

Media Relations (Colombia)

Jorge Mauricio Tellez Phone: + 571-234-4329

MATERIAL INFORMATION

Fax: +571-234-4480

e-mail: mauricio.tellez@ecopetrol.com.co

Ecopetrol SA - Empresa Colombiana de Petroleos published this content on 22 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 October 2016 21:25:03 UTC.

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