Banco Industrial Colombiano ADR NYSE:CIB Message Board

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Non-Tech : Banco Industrial Colombiano ADR NYSE:CIB

CIB 57.88

+0.7%

Oct 30 3:59 PM EDT

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To: Arnold Layne who wrote (55)	7/30/1998 12:41:00 AM
From: k urmann	Read Replies (1) of 72

Mutual funds have been noticing the value here though during the 1st quarter (1/98 to 3/31) Institutional ownership increased 280% from only 295,000 shares to 820,000. This is a very small amount, but it is very encouraging and shows some interest being formed. I know that at the very beginning the merger was well received but lately Bancolumbia has not lived up to expectations and Banco Santander put out a negative report on their current progress, but then again I'm sure STD would like to depress the price so they could take a stake in bancolumbia for as cheap as possible.

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