Grupo TMM Provides Clarification on $35 Million Securitization of Receivables

Apr 17, 2001, 01:00 ET from Grupo Transportacion Maritima Mexicana, S.A. de C.V.

    MEXICO CITY, April 17 /PRNewswire/ -- Grupo Transportacion Maritima
 Mexicana, S.A. de C.V. (NYSE:   TMM, TMM/A), the largest Latin American multi-
 modal transportation and logistics company and owner of the controlling
 interest in Mexico's busiest railway, TFM, elaborated on its previously
 announced securitization package.  This program refers to ongoing receivables
 from long-standing TMM customers, and is expected to be closed and funded next
 week.
     As discussed in the company's fourth quarter earnings release, TMM has
 received commitments from a group of banks jointly led by JP Morgan Chase and
 Banc of America Securities for a $35 million securitization of receivables
 that will enable the company to reduce debt cost and have access to
 significant amounts of working capital as it continues to fund an increasing
 percentage of its working capital with cash from ongoing operations.
     The company emphasized that the securitization transaction is a sale of
 present and future receivables and that JP Morgan Chase and Banc of America
 Securities are the joint lead arrangers for the transaction.  Finally, a
 second tranche of approximately $25 million will be securitized by the two
 lead arrangers on a best effort basis.
     Headquartered in Mexico City, Grupo TMM is the premier Mexican multimodal
 transportation company and logistics provider.  Through its branch offices and
 network of subsidiary companies, Grupo TMM provides a dynamic combination of
 ocean and land transportation services within Mexico.  Grupo TMM also has the
 controlling interest in Transportacion Ferroviaria Mexicana (TFM), which
 operates Mexico's Northeast railway and carries over 40% of the country's rail
 cargo.  Visit Grupo TMM's web site at http://www.tmm.com.mx , TFM's web site
 at http://www.gtfm.com.mx .  Both sites offer Spanish/English language
 options.  For free fax on demand information, dial 1-800-PRO-INFO and enter
 the company's symbol: TMM.
     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 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 TFM, S.A. de C.V. and other
 new businesses; risks associated with the Company's reorganization and asset
 sale programs; the ability of the Company to reduce corporate overhead costs;
 the ability of management to manage growth and successfully compete in new
 businesses, and, if necessary, the ability of the Company to refinance its
 indebtedness on favorable terms.  These risk factors and additional
 information are included in the Company's reports on Form 6-K and 20-F on file
 with the Securities and Exchange Commission.
 
 

SOURCE Grupo Transportacion Maritima Mexicana, S.A. de C.V.
    MEXICO CITY, April 17 /PRNewswire/ -- Grupo Transportacion Maritima
 Mexicana, S.A. de C.V. (NYSE:   TMM, TMM/A), the largest Latin American multi-
 modal transportation and logistics company and owner of the controlling
 interest in Mexico's busiest railway, TFM, elaborated on its previously
 announced securitization package.  This program refers to ongoing receivables
 from long-standing TMM customers, and is expected to be closed and funded next
 week.
     As discussed in the company's fourth quarter earnings release, TMM has
 received commitments from a group of banks jointly led by JP Morgan Chase and
 Banc of America Securities for a $35 million securitization of receivables
 that will enable the company to reduce debt cost and have access to
 significant amounts of working capital as it continues to fund an increasing
 percentage of its working capital with cash from ongoing operations.
     The company emphasized that the securitization transaction is a sale of
 present and future receivables and that JP Morgan Chase and Banc of America
 Securities are the joint lead arrangers for the transaction.  Finally, a
 second tranche of approximately $25 million will be securitized by the two
 lead arrangers on a best effort basis.
     Headquartered in Mexico City, Grupo TMM is the premier Mexican multimodal
 transportation company and logistics provider.  Through its branch offices and
 network of subsidiary companies, Grupo TMM provides a dynamic combination of
 ocean and land transportation services within Mexico.  Grupo TMM also has the
 controlling interest in Transportacion Ferroviaria Mexicana (TFM), which
 operates Mexico's Northeast railway and carries over 40% of the country's rail
 cargo.  Visit Grupo TMM's web site at http://www.tmm.com.mx , TFM's web site
 at http://www.gtfm.com.mx .  Both sites offer Spanish/English language
 options.  For free fax on demand information, dial 1-800-PRO-INFO and enter
 the company's symbol: TMM.
     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 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 TFM, S.A. de C.V. and other
 new businesses; risks associated with the Company's reorganization and asset
 sale programs; the ability of the Company to reduce corporate overhead costs;
 the ability of management to manage growth and successfully compete in new
 businesses, and, if necessary, the ability of the Company to refinance its
 indebtedness on favorable terms.  These risk factors and additional
 information are included in the Company's reports on Form 6-K and 20-F on file
 with the Securities and Exchange Commission.
 
 SOURCE  Grupo Transportacion Maritima Mexicana, S.A. de C.V.