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TMM REPORTS THIRD QUARTER EARNINGS

 TMM REPORTS THIRD QUARTER EARNINGS
 MEXICO CITY, Oct. 27 /PRNewswire/ -- Transportacion Maritima


Mexicana (NYSE: TMM/TMM.A) today announced results of the third quarter and nine months ended Sept. 30, 1992.
 Revenues in the third quarter ended Sept. 30, 1992, were $113.1 million, up 16 percent when compared with $97.4 million reported in the third quarter of 1991. Operating income in the third quarter was $9.9 million, an increase of 20.7 percent when compared with $8.2 million in the same period of 1991.
 Net income in the third quarter was $10.8 million of $0.19 per share compared with net income of $13.3 million or $0.28 per share during the same
period of 1991 on a fully diluted basis. The 1991 figure included profits of $1.2 million from the sale of a ship and recovery of $2.6 million in asset taxes.
 Revenues for the nine months ended Sept. 30, 1992, were $340.6 million, an increase of 18.3 percent when compared with $287.8 million reported during the same period in 1991. Operating income for the nine months was $30.2 million, an increase of 88 percent when compared with $16.1 million in the same period of 1991.
 Net income for the nine months ended Sept. 30, 1992 was $30.3 million, an increase of 8.7 percent when compared with the $27.9 million reported during the same period in 1991. The 1991 figure included the cancellation of a provision of $8.4 million related to certain disputed tax incentives, recovery of $5.9 million in asset taxes and a 1.2 million profit from the sale of a ship.
 TMM prepares and reports its financial statements in accordance with International Accounting Standards.
 Luis Gutierrez, chief financial officer of TMM, stated, "We are very encouraged by our performance to date. During these first nine months of 1992, operating income has surpassed that reported for the year end 1991. This outstanding performance currently affords TMM an operating profit margin of 8.9 percent."
 TMM is Mexico's largest transportation service company and a leader among world carriers serving Mexico. A full-service shipping company, TMM's network includes 21 offices in Mexico and affiliates and subsidiaries throughout the world.
 TRANSPORTACION MARITIMA MEXICANA, S.A. DE C.V. AND SUBSIDIARIES
 Consolidated Statement Of Income
 (Dollars in millions -- Unaudited)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Revenue from freight
 and services 113.069 97.391 340.662 287.822
 Cost of freight
 and services (83.312) (71.620) (250.380) (222.581)
 Depreciation of vessels
 and operating equipment (6.146) (5.658) (18.703) (16.103)
 Total (89.458) (77.278) (269.083) (238.684)
 Gross profit 23.611 20.113 71.539 49.138
 Administrative expenses (13.741) (11.904) (41.369) (33.052)
 Operating income 9.870 8.209 30.170 16.086
 Financial expenses (11.969) (6.279) (26.693) (15.037)
 Financial income 11.531 10.339 29.258 18.363
 Exchange gain (loss)-net 1.870 (2.029) (0.295) (4.013)
 Total 1.432 2.031 2.270 (0.687)
 Other income (expense)-net(0.138) 1.079 0.167 9.518
 Income before taxes 11.164 11.319 32.607 24.917
 Provision for taxes (0.349) 2.132 (1.748) 4.103
 Income before minority
 interest 10.815 13.451 30.859 29.020
 Minority interest (0.053) (0.106) (0.538) (1.118)
 Net income 10.762 13.345 30.321 27.902
 Weighted average outstanding
 shares (millions) 56.535 47.781 51.369 47.781
 Earnings per share
 (dollars/share) 0.19 0.28 0.59 0.58
 Outstanding shares at end
 of period (millions) 55.833 47.781 55.833 47.781
 Earnings per share
 (dollars/share) 0.19 0.28 0.54 0.58
 -0- 10/27/92
 /CONTACT: Luis Gutierrez or Pedro Mejorada of TMM in Mexico, 011-525-665-7744 or 011-525-606-0444, or Cathleen Mayrose of Dewe Rogerson, 212-688-6840, for TMM/
 (TMM) CO: Transportacion Maritima Mexicana ST: IN: MAR SU: ERN


KD-SM -- NY126 -- 5682 10/27/92 17:46 EST
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