OCTOBER 2008

GRUPO TMM ANNOUNCES PEMEX NEW RULING ON THREE PRODUCT TANKER CONTRACT BIDS
 

Mexico City, October 24, 2008. Grupo TMM, S.A.B. (NYSE: TMM and BMV: TMM A; “TMM” or the “Company”) a Mexican intermodal transportation and logistics company, informs that today, Pemex Refinanción (“Pemex”) issued a new ruling on the bids for three bare boat and ship management product tanker contracts that were pending to be solved, declaring them null and void.

On July, 2008, Pemex declared the bids for such contracts null and void. Thereafter, TMM submitted an inconformity with the Ministry of Public Administration who resolved on TMM’s favor and ordered Pemex to reissue the ruling.

Pemex issued a resolution today, where TMM’s offer was reviewed, not respecting the market conditions prevailing at the time of such offer. TMM will review this ruling and reserves its right to proceed legally, according to its interests.

TMM’s three product tanker vessels are currently operating in the international spot market and the Company expects to produce similar results to those anticipated.

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; the ability of the Company to reduce corporate overhead costs and the ability of management to manage growth and successfully compete in new businesses 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.