SOURCE: Grupo TMM

November 14, 2008 16:05 ET

Grupo TMM Receives Continued Listing Standard Notice From NYSE

MEXICO CITY--(Marketwire - November 14, 2008) - Grupo TMM, S.A.B. (NYSE: TMM) and (BMV: TMM A) ("TMM"), a Mexican intermodal transportation and logistics company, announced that on October 17, 2008, the Company was notified by the New York Stock Exchange ("NYSE"), that the Company was not in compliance with the NYSE continued listing standard, requiring a minimum average closing price of $1.00 per ADR over a consecutive 30-day trading period.

Under the NYSE's rules, the Company has six months from the date of the notice to cure this deficiency. During this period, the Company's ADRs will continue trading on the NYSE, subject to compliance with other applicable NYSE listing requirements. The Company has notified the NYSE that it intends to cure this deficiency.

Headquartered in Mexico City, TMM is a Latin American intermodal 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:
    Jacinto Marina
    Chief Financial Officer
    011-525-55-629-8866 ext. 2901
    Email Contact

    Monica Azar
    Investor Relations
    917-597-5361
    or
    011-525-55-629-8866 ext. 3421
    Email Contact

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