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GRUPO TMM ANNOUNCES IT HAS LAUNCHED A CASH TENDER OFFER TO PURCHASE UP TO $331,018,794 PRINCIPAL AMOUNT OF OUTSTANDING SENIOR SECURED NOTES DUE 2007, PLUS ACCRUED AND UNPAID INTEREST
TMM is making an offer to purchase up to $331,018,794 aggregate principal amount of the 2007 Notes in accordance with Section 5.18 of the Indenture with the net cash proceeds remaining from the recent sale of 18 million shares of Kansas City Southern Common Stock. The purchase price in the offer is 100% of the principal amount of the Notes, plus accrued and unpaid interest, up to but not including the date of settlement. The offer is scheduled to expire at 12:00 midnight, New York City time, on Friday, January 13, 2006, unless extended. Noteholders may withdraw their tender from the offer at any time prior to the expiration date, unless extended. Specific details of the offer are fully described in the Company Notice and Offer to Purchase dated December 15, 2005. The Bank of New York is the paying agent for the offer. Requests for assistance or documentation should be directed to the paying agent at The Bank of New York, Corporate Trust Operations, Reorganization Unit, 101 Barclay Street—7 East, New York, New York 10286, Attention: Mr. William Buckley, Telephone: (212) 815-5778. Beneficial owners of the Notes may also contact their brokers, dealers, commercial banks, trust companies or other nominee through which they hold the Notes with questions and requests for assistance. This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. The cash tender offers are being made solely by the Company Notice and Offer to Purchase and the related Letters of Transmittal, which are being mailed to noteholders today. Additional copies of these documents and other offer materials may be obtained by contacting the paying agent. Headquartered in Mexico City, TMM is a Latin American 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; and the Company's ability to complete the sale. 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. |
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