(Grupo TMM issued the following news release on January 20.)
MEXICO CITY — Grupo TMM, S.A. announced that in compliance with the August 13, 2003, Mexican Federal Tribunal of Fiscal and Administrative Justice (“Fiscal Court”) resolution regarding its subsidiary TFM, S.A. de C.V. (“TFM”) Value Added Tax (“VAT”) lawsuit requesting the reimbursement of the VAT, the Mexican Treasury delivered yesterday to TFM a special VAT certificate for the historical claimed amount of $2,111,111,790.00 pesos. Such certificate can be used by TFM to pay taxes and other fiscal obligations.
Regarding inflation and interest adjustments to the VAT certificate, the Company will provide additional information as soon as it becomes available.
Headquartered in Mexico City, Grupo TMM is a Latin American multimodal transportation company. Through its branch offices and network of subsidiary companies, Grupo TMM provides a dynamic combination of ocean and land transportation services. Grupo TMM also has a significant interest in TFM, which operates Mexico’s Northeast railway and carries over 40 percent of the country’s rail cargo. Grupo TMM’s web site address is www.grupotmm.com and TFM’s web site is www.tfm.com.mx.