Annual General Shareholders' Meeting of Ecopetrol S.A.

Tuesday, Feb 21, 2012

BOGOTA, Colombia, Feb. 20, 2012 /PRNewswire/ -- The Chief Executive Officer of Ecopetrol S.A. (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP) hereby calls on Shareholders to attend the Annual General Shareholders' Meeting to be held on Thursday, March 22, 2012, starting at 9 a.m., at the International Center of Business and Exhibitions (Centro Internacional de Negocios y Exposiciones, Corferias), located on Carrera 37 No. 24 – 67, Bogota, Colombia.

The agenda for the meeting will be:

Safety guidelines

1. Quorum Verification
2. Opening by the Chairman of the Board of Directors
3. Approval of the Agenda
4. Appointment of the Meeting's President
5. Appointment of the Commission in charge of scrutinizing elections and polling
6. Appointment of the Commission in charge of reviewing and approving the minutes of the meeting
7. Presentation of the report concerning the Board of Directors' activities, the Board's evaluation of the Chief Executive Officer's performance, as well as the company's compliance with the corporate governance code
8. Presentation of 2011 performance reports by the Board of Directors and by the Chief Executive Officer of ECOPETROL S.A.
9. Report by the Minority Shareholders' Representative
10. Review and consideration of ECOPETROL S.A.'s financial statements and consolidated financial statements as of December 31, 2011
11. Review  of the External Auditor's Report
12. Approval of reports presented by the Management, and the External Auditor and approval of Financial Statements
13. Approval of proposal for dividend distribution
14. Election of the External Auditor and assignment of remuneration
15. Election of the members of the Board of Directors
16. Propositions and miscellaneous
    
    As from February 29, 2012 shareholders will exercise the right to inspect the books and documents that the Colombian Commercial Code refers to. This information may be consulted at the Company's main offices (Calle 37 No. 8-43 Bogota, Colombia), in a time schedule from 7:30 a.m. to 4:00 p.m.

The resumes of candidates for the Board of Directors and for the External Auditor are available to the shareholders on Ecopetrol Web site.

Shareholders that may not attend the Shareholders´ Meeting may be represented through a proxy, granted in writing, which gathers the requisites established in Colombian Commercial Law. Shareholders may download from the Web site the proxy models that may be used.

Except for the cases of legal representation, managers and employees of Ecopetrol S.A. shall not represent shares other than their own, while in exercise of their posts, or substitute the powers of attorney conferred to them. Neither shall they be able to vote on the year-end financial statements.

In all events, shareholders representation shall strictly comply with the rules established under Colombian Securities Law and Regulations, regarding illegal, unauthorized and unsafe practices of the issuers of securities.

SOURCE Ecopetrol S.A.

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