Ecopetrol : establishes new subsidiary in México

MATERIAL INFORMATION

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that in accordance with the authorization granted by its Board of Directors on July 12, it has completed the establishment of its new subsidiary, ECP Hidrocarburos México S.A. de C.V., pursuant to Corporate Charter 68,294, recorded by Mexico City Notary 212.

The new subsidiary, which is domiciled in Mexico City, is owned 100% Ecopetrol S.A.'s property, and its shareholders are the subsidiaries Ecopetrol Global Energy SLU, incorporated in Spain and holding a 99% equity interest, and of Ecopetrol America Inc., incorporated in the United States and holding a 1% equity interest.

ECP Hidrocarburos México S.A. de C.V., the sole corporate purpose of which is hydrocarbon exploration and extraction, will undertake the signing and execution of oil contracts awarded to it in Mexico, beginning with those corresponding to Blocks 6 and 8 of Round 2.1 in shallow waters.

This decision is consistent with the goals of portfolio strengthening and diversification, as set forth in the corporate strategy.

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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.

Maria Catalina Escobar

Phone: (+571) 234 5190

E-mail: investors@ecopetrol.com.co

MATERIAL INFORMATION

Jorge Mauricio Tellez Phone: (+571) 234 4329

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