Grupo Aval Acciones Y Valores S.A.

GRUPO AVAL

banking,[ insurance ] and financial services, namely, financial and banking transactions in local or foreign currencies, as well as notes and drafts established in the law rendered by banks,[ financial corporations and financial subsidiary corporations, insurance and reinsurance companies, ] controlling companies in financial groups, [ pledge and companies, securitization entities, public warehouses, commercial lease companies, companies that issue or administrate credit cards, mutual saving and investment companies, foreign currency exchange offices;] banking and financial services, namely, receipt of resources from the public in demand deposits, receipt of time deposits, assumption of obligations at someone else's expense through acceptances, endorsements of a credit instrument, as well as the granting of pledges, bonds, and internal and external letters of credit; providing advice and information on financial portfolio management; administration of financial portfolio management; issuance of obligations, credit instruments, pledged securities, receipt of loans and acceptance of credits of national and foreign financial institutions; granting of mortgage loans or loans secured by pledges, with or without title issuance, as well as unsecured credits; granting of credits in open accounts; negotiation of bills of exchange, orders of payment, promissory notes, invoices, and other documents that include payment obligations from credit sales, as well as the advance payment of funds endorsed by the above mentioned documents; negotiation of documents resulting from foreign trade transactions, negotiation of credit instruments; acquisition, guardianship or transfer of fixed income values; conducting, directly or at someone else's expense transactions with currencies, arbitration contracts over these and issuance or negotiation of traveler's checks; cashier and treasury services; collection of payments and funds transference services; receipt and guardianship in deposits of movable properties, values and documents; issuance and operation of credit card services; commercial leasing transactions; trustee services; acquisition and guardianship of paper of monetary value for their service and transfer; [ brokerage or acquisition of precious minerals or minerals coined in bars;] issuance of loans guaranteed by mortgage assets, or pledged assets; underwriting securities; funds investment; [ acquisition, namely, real estate brokerage services; ] lease-purchase financing; loan financing; monetary exchange; certificate of deposit issuance; [ and investment trusts services ];advertising services in the field of banking, insurance and finance; business services, namely, administration services for commercial business; technical and professional services for the organization and handling of offices, institutions and establishments related to the financial sector, namely, banks, [ financial corporations and financial subsidiary corporations, insurance and reinsurance companies, ] controlling companies in financial groups, [ pledge and securitization entities, public warehouses, commercial lease companies, companies that issue or administrate credit cards, mutual saving and investment companies, and foreign currency exchange offices; and assistance services for the exploitation or administration of a company, namely assistance in the direction of businesses or functions of an industrial or commercial industry, namely, the registration, reproduction, composition, collection, transmission of systematization of written communications and recordings, and the exploitation or collection of mathematical or statistic data ];AVAL means (1) the signature at the end of a letter or any other credit document, to assure its payment in case the person who is principally obligated does not pay, and (2) a written document through which a person responds for someone else's behavior, especially in political issues.;GRUPO;

GRUPO AVAL ACCIONES Y VALORES

banking, [ insurance ] and financial services, namely, financial and banking transactions in local or foreign currencies, as well as notes and drafts established in the law rendered by banks, financial corporations and financial subsidiary corporations, insurance and reinsurance companies, controlling companies in financial groups, [ pledge and companies, securitization entities, public warehouses, commercial lease companies, companies that issue or administrate credit cards, mutual saving and investment companies, foreign currency exchange offices; ] banking and financial services, namely, receipt of resources from the public in demand deposits, receipt of time deposits, assumption of obligations at someone else's expense through acceptances, endorsements of a credit instrument, as well as the granting of pledges, bonds, and internal and external letters of credit; providing advice and information on financial portfolios management; administration of financial portfolios management; issuance of obligations, credit instruments, pledged securities, receipt of loans and acceptance of credits of national and foreign financial institutions; granting of mortgage loans or loans secured by pledges, with or without title issuance, as well as unsecured credits; granting of credits in open accounts; negotiation of bills of exchange, orders of payment, promissory notes, invoices, and other documents that include payment obligations from credit sales, as well as the advance payment of funds endorsed by the above mentioned documents; negotiation of documents resulting from foreign trade transactions, negotiation of credit instruments; acquisition, guardianship or transfer of fixed income values; conducting, directly or at someone else's expense transactions with currencies, arbitration contracts over these and issuance or negotiation of traveler's checks; cashier and treasury services; collection of payments and funds transference services; receipt and guardianship in deposits of movable properties, values and documents; issuance and operation of credit cards services; commercial leasing transactions; trustee services; acquisition and guardianship of paper of monetary value for their service and transfer; [ brokerage or acquisition of precious minerals or minerals coined in bars; ] issuance of loans guaranteed by mortgage assets, or pledged assets; underwriting securities; funds investment; [ acquisition, namely, real estate brokerage services; ] lease-purchase financing; loan financing; monetary exchange; certificate of deposit issuance; [ and investment trusts services ];Color is not claimed as a feature of the mark.;advertising services in the field of banking, [ insurance ] and finance; [ business services, namely, administration services for commercial businesses; ] technical and professional services for the organization and handling of offices, institutions and establishments related to the financial sector namely, banks, [ financial corporations and financial subsidiary corporations, insurance and reinsurance companies, ] controlling companies in financial groups, [ pledge and securitization entities, public warehouses, commercial lease companies, companies that issue or administrate credit cards, mutual saving and investment companies, and foreign currency exchange offices; and assistance services for the exploitation or administration of a company, namely, assistance in the direction of businesses or functions of an industrial or commercial industry, namely, the registration, reproduction, composition, collection, transmission or systematization of written communications and recordings, and the exploitation or collection of mathematical or statistic data ];The mark translates to Group Aval Shares and Securities. The word AVAL means - (1) the signature at the end of a letter or any other credit document, to assure its payment in case the person who is principally obligated does not pay; (2) written document through which a person responds for someone else's behavior, especially in political issues.;GRUPO and ACCIONES Y VALORES;

GRUPO AVAL MORE THAN A BANK

Banking and financing services; Electronic banking via a global computer network; Investment banking services; Merchant banking and investment banking services; Mortgage banking; On-line banking services;Advertising and business management consultancy;The mark translates to Group Aval. The word AVAL means - (1) the signature at the end of a letter or any other credit document, to assure its payment in case the person who is principally obligated does not pay; (2) written document through which a person responds for someone else's behavior, especially in political issues.;

V

banking, [ insurance ] and financial services, namely, financial and banking transactions in local or foreign currencies, as well as notes and drafts established in the law rendered by banks, [ financial corporations and financial subsidiary corporations, insurance and reinsurance companies, ] controlling companies in financial groups, [ pledge and companies, securitization entities, public warehouses, commercial lease companies, companies that issue or administrate credit cards, mutual saving and investment companies, foreign currency exchange offices; ] banking and financial services, namely, receipt of resources from the public in demand deposits, receipt of time deposits, assumption of obligations at someone else's expense through acceptances, endorsements of a credit instrument, as well as the granting of pledges, bonds, and internal and external letters of credit; providing advice and information on financial portfolio management; administration of financial portfolio management; issuance of obligations, credit instruments, pledged securities, receipt of loans and acceptance of credits of national and foreign financial institution; granting of mortgage loans or loans secured by pledges, with or without title issuance, as well as unsecured credits; granting of credits in open accounts; negotiation of bills of exchange, orders of payment, promissory notes, invoices, and other documents that include payment obligations from credit sales, as well as the advance payment of funds endorsed by the above mentioned documents; negotiation of documents resulting from foreign trade transactions, negotiation of credit instruments; acquisition, guardianship or transfer of fixed income values; conducting, directly or at someone else's expense transactions with currencies, arbitration contracts over these and issuance or negotiation of traveler's checks; cashier and treasury services; collection of payments and funds transference services; receipt and guardianship in deposits of movable properties, values and documents; issuance and operation of credit card services; commercial leasing transaction; trustee services; acquisition and guardianship of paper of monetary value for their service and transfer; [ brokerage or acquisition of precious minerals or minerals coined in bars; ] issuance of loans guaranteed by mortgage assets, or pledged assets; underwriting securities; funds investment; acquisition, namely, real estate brokerage services; lease-purchase financing; loan financing; monetary exchange; [ and investment trusts services ];advertising services in the field of banking, insurance and finance; business services, namely, administration services for commercial businesses; technical and professional services for the organization and handling of offices, institutions and establishments related to the financial sector, namely, banks,[ financial corporations and financial subsidiary corporations, insurance and reinsurance companies, ] controlling companies in financial groups, [ pledge and securitization entities, public warehouses, commercial lease companies, companies that issue or administrate credit cards, mutual saving and investment companies, and foreign currency exchange offices; and assistance services for the exploitation or administration of a company, namely assistance in the direction of businesses or functions of an industrial or commercial industry, namely, the registration, reproduction, composition, collection, transmission of systematization of written communications and recordings, and the exploitation or collection of mathematical or statistic data ];