Bancolombia SA – ‘20-F’ for 12/31/03 – EX-3

On:  Friday, 3/26/04, at 10:59am ET   ·   For:  12/31/03   ·   Accession #:  950123-4-3824   ·   File #:  333-09478

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Annual Report of a Foreign Private Issuer   —   Form 20-F
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 20-F        Annual Report of a Foreign Private Issuer            246   1.25M 
 2: EX-1        Corporate By-Laws                                     39    123K 
 3: EX-2        Consent of Deloitte & Touche Ltda                      1      7K 
 4: EX-3        Consent of Kpmg Ltda                                   1      7K 
 5: EX-12.1     Statement re: Computation of Ratios                    2     10K 
 6: EX-12.2     Statement re: Computation of Ratios                    2     10K 
 7: EX-13.1     Annual or Quarterly Report to Security Holders         1      7K 
 8: EX-13.2     Annual or Quarterly Report to Security Holders         1      7K 

EX-3   —   Consent of Kpmg Ltda

EX-3
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To the Board of Directors and Stockholders of                                   
Bancolombia S.A.:                                                               

We consent to incorporation by reference in the registration statement on Form  
F-3 of Bancolombia S.A. of our report dated January 21, 2003, except note 30,   
which is as of March 12, 2003, relating to the consolidated balance sheets of   
Bancolombia S.A. and subsidiaries as of December 31, 2002, and the related      
consolidated statements of operations, stockholders' equity and cash flows for  
each of the years in two-year period ended December 31, 2002 which report       
appears in the December 31, 2003, annual report on Form 20-F of Bancolombia     
S.A. Our report refers to changes in classification and valuation of investment 
securities.                                                                     

                      KPMG Ltda.

Medellin, Colombia                                                              
March 15, 2004                                                                  

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘20-F’ Filing		Date		Other Filings
Filed on:		3/26/04
		3/15/04
For Period End:		12/31/03
		3/12/03
		1/21/03
		12/31/02		20-F
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