SOURCE: Grupo TMM

August 03, 2006 15:28 ET

Grupo TMM Announces Shareholders Meeting to Approve Securitization of $200 Million

MEXICO CITY -- (MARKET WIRE) -- August 3, 2006 -- Grupo TMM, S.A. (NYSE: TMM) and (MEX VALORIS: TMMA); ("TMM" or the "Company"), a Mexican multimodal transportation and logistics company, announced that it called today a Shareholders Meeting to be held on August 18, 2006 to propose the approval of the purported securitization of $200 million with Deutsche Bank. The proceeds from this transaction will be used to redeem our outstanding 2007 Senior Notes and to fund capital projects.

Headquartered in Mexico City, TMM is a Mexican multimodal transportation Company. Through its branch offices and network of subsidiary companies, TMM provides a dynamic combination of ocean and land transportation services. Visit TMM's web site at www.grupotmm.com. The site offers Spanish/English language options.

Included in this press release are certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements speak only as of the date they are made and are based on the beliefs of the Company's management as well as on assumptions made. Actual results could differ materially from those included in such forward-looking statements. Readers are cautioned that all forward-looking statements involve risks and uncertainty. The following factors could cause actual results to differ materially from such forward-looking statements: global, US and Mexican economic and social conditions; the effect of the North American Free Trade Agreement on the level of US-Mexico trade; the condition of the world shipping market; the success of the Company's investment in new businesses; risks associated with the Company's reorganization and restructuring; the ability of the Company to reduce corporate overhead costs; the ability of management to manage growth and successfully compete in new businesses; and the ability of the Company to restructure or refinance its indebtedness. These risk factors and additional information are included in the Company's reports on Form 6-K and 20-F on file with the United States Securities and Exchange Commission.

Contact Information

  • TMM COMPANY CONTACT:
    Juan Fernandez
    Chief Financial Officer
    011-525-55-629-8778
    (Email Contact)

    Brad Skinner
    Senior VP, Investor Relations
    011-525-55-629-8725
    203-247-2420
    (Email Contact)

    Monica Azar
    Manager, Investor Relations
    212-659-4975
    (Email Contact)

    AT DRESNER CORPORATE SERVICES:
    Kristine Walczak (investors, analysts, media)
    312-726-3600
    (Email Contact)

    AT PROA STRUCTURA:
    Marco Provencio
    011-525-55-629-8708
    011-525-55-442-4948
    (Email Contact)