TMM Ports and Teminals Approved for Berth and Yard Position Expansion At Manzanillo.

Business Editors

MEXICO CITY--(BUSINESS WIRE)--May 23, 2002

Grupo TMM (NYSE:TMM and TMM/L), the largest Latin American multi-modal transportation and logistics company, and owner of the controlling interest in Grupo Transportacion Ferroviaria Mexicana, S.A. de C.V. (Grupo TFM),

has received approval from the Secretary of Communication and Transportation in Mexico for its joint venture, TMM Ports and Terminal Operations, for the expansion of 500 meters of waterfront and 24 acres of yard located in Manzanillo. As discussed previously, the company will complete the expansion of the yard in the latter part of this year. The expanded yard and berth positions will allow TMM Ports and Terminals to substantially grow the Manzanillo container facility in the coming years, not only as a port of entry into Mexico and the United States, but also to serve as a transload Pacific hub center for feeder ships to and from North America, South America and for transcanal movements.

"Our port operations have consistently been Grupo TMM's highest-margin business, and we believe we can make Manzanillo a much larger contributor to our business, likely doubling the contribution from the current level during the next two years as a result of these expansions," said Javier Segovia, Grupo TMM's president. John Hemmingway, Stevedoring Services of America's CEO and President commented, "We believe we can successfully grow this extremely efficient operation and generate excellent returns. This port has great potential for significant growth and will continue to enhance the position of TMM Ports and Terminals as the premier port operator in Mexico."

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 percent of the country's rail cargo. Visit Grupo TMM's web site at http://www.grupotmm.com.mx, TFM's web site at http://www.gtfm.com.mx. Both sites offer 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 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.