Bogotá D.C., May 13 2014
Mrs.

SANDRA PATRICIA PEREA DÍAZ

Delegated Superintendent for Issuers, Investment Portfolio and Other Agents

Financial Superintendence of Colombia

Street 7° No. 4 - 49
Bogotá D.C.
Subject: 0084-000002 BRC Investor Services S.A. Securities Rating Agency

53 Rating reports 31 Transmission of information NO ATTACHMENTS

Mrs. Perea:
Hereby I inform the Initial Rating of Grupo Argos S.A., approved by the Technical Committee in meeting held on May 13, 2014, recorded in Minutes 632.
The decision adopted by the Committee was as follows:
Granted the Issuer Rating: AAA
Contacts:

Alba Luz Buitrago Junco

abuitrago@brc.com.co

María Carolina Barón Buitrago

cmbaron@brc.com.co
Copies: Mr. Ricardo Sierra, Vice-President of Finance, Grupo Argos S.A.; Alejandro Zuluaga, Manager of Corporate Finances, Grupo Argos S.A.

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