Bolsa de Valores de Colombia

QUARTER I - 2011Results

Juan Pablo Córdoba GarcésPresident

I. Market Evolution

II. BVC Stock

III. Financials Results

Content

IV. MILA

I. Market Evolution BVC Indexes Evolution

INDEXQI-2011

RETURN

LTM

RETURN

I. Market EvolutionTotal traded Volume (COP Billions)

The total traded volume in QI-2011 (COP$545 billion) exceed in 5,4% the same period in QI-2010 (COP$518

billion).

I. Market Evolution

Traded Volume per Market until Q-I: 2011 vs 2010. (COP Billions)

Var 2%

Var 90%

Var 105%

Var 105%

Fixed Income Equities Repos Derivatives

I. Market EvolutionMarket Capitalization

The Market Cap at the end of Q-I of 2011 is COP$396 Billion 29% higher than Q-I of 2010

I. Market EvolutionFixed Income: Electronic

The traded volume until Q-I 2011 is COP$202 Billion, showing a decrease regarding the Q-I 2010 of 11%

Traded Volume (COP Billions) Number of Transactions

I. Market EvolutionFixed Income: OTC

The OTC Market until Q-I 2011 traded COP$303 Billion, showing an increase of 13% regarding Q-I of 2010.

Traded Volume (COP Billions) Number of Transactions

I. Market EvolutionEquity Market

The Equity Market at the end of Q-I 2011 traded COP$11 Billion showing an increase of 90% regarding Q-I 2010.

Traded Volume (COP Billions) Number of Transactions

I. Market EvolutionRepo Market

The Repo Market at the end of Q-I 2011 traded COP$6,5 Billion showing an increase of 105% regarding Q-I 2010.

Traded Volume (COP Billions) Number of Transactions

I. Market EvolutionDerivatives Market

The Derivatives Market at the end of Q-I 2011 traded COP$23.2 Billion showing an increase of 108% regarding Q-I

2010, with more than 227.000 contracts. Last march BVC launched the new COLCAP index future.

I. Market EvolutionCurrency Market (USD Billions)

The Currency Market at the end of Q-I 2011 traded USD$56Billion showing a decrease of 18% regarding Q-I 2010.

Traded Volume (COP Billions) Number of Transactions

I. Market Evolution

II. BVC Stock

III. Financial Results

Content

IV. MILA

II. BVC Stock

The traded volume in Q-I 2011 is COP$81.816 Million, showing an increase of 2,1% regarding Q-I 2010

The closing price

until March 301tst

is COP$40,90,

showing an

increase of 7%

regarding the

closing price of

Q-I 2010.

Traded Volume (COP Millions) Stock Price ($COP)

II. BVC StockMarket Cap

The Market Cap at

the end of Q-I 2011

is COP$763.718

Million, showing an

increase of 6,8%

regarding of Q-I of

2010.

BVC Market Cap (COP Millions) Stock Price ($COP)

BVC has 1.972 shareholders

at the end of the first quarter

of 2011, 85% higher than the

QI-2010.

II. BVC StockShareholders

1945

24

3

1972

30,96%

48,31%

20,73%

100%

I. Market Evolution

II. BVC Stock

III. Financial Results

Content

IV. MILA

III. Financial ResultsP&L Q-I 2011 vs Q-I 2010 (COP Millions)

The EBITDA shows an increase of 52% regarding the QI-2010.

III. Financial ResultsOperational Revenues (COP Millions)

III. Financial ResultsOperational Expenses (COP Millions)

III. Financial ResultsBalance Sheet (COP Millions)

III. Financial ResultsBalance Sheet: Assets (COP Millions)

III. Financial ResultsBalance Sheet: Liabilities (COP Millions)

III. Financial ResultsBalance Sheet: Equity (COP Millions)

I. Market Evolution

II. BVC Stock

III. Financial Results

Content

IV. MILA

“Marcha Blanca” Starting Up

Duration 4 weeks and 2 days

1. Chilean and Peruvian Trading Rules April 18th – 19th1. Training April 26th to May 6th1. Connectivity Tests May 2nd to 6th

1. “Marcha Blanca” May 9th to 20th

TRAINING

Trading Rules: focus on the broker profile and Back Office. The training will be recorded and uploaded in the MILA website.

Will be focus to three profiles: Broker, Administrator and Back Office. It was communicated through press release to the market on Friday April 15th. More than 300 people from the brokerage firms will be trained

Medellin Cali

Connectivity Test (May 2nd – 6th):The user will test the routing and credit limit control web pages“Marcha Blanca” Tests (May 9th to 20th):Trading tests and credit limit control administration following the rules provided by the BVC.

The Exchanges Suggest have 4 intermediaries in each country for the counterparty transactions, thisway:

All the Chilean brokerage firms that participate in MB will have 4 counterparties from Peru and 4 fromColombia.All the Peruvian brokerage firms that participate in MB will have 4 counterparties from Chile and 4 fromColombia.All the Colombian brokerage firms that participate in MB will have 4 counterparties from Chile and 4from Peru.

“Marcha Blanca” Starting Up

Colombia

THANK YOU

For additional information please contact

BVC Investor Relations Office:

Carlos Barrios: cbarrios@bvc.com.co

Tel: +57 1 3139800 ext. 1167