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TMM REPORTS THIRD QUARTER EARNINGS

 MEXICO CITY, Oct. 27 /PRNewswire/ -- Transportacion Maritima Mexicana (NYSE: TMM.A/TMM) today announced results for the third quarter and nine months ended Sept. 30, 1993.
 Revenues in the third quarter ended Sept. 30, 1993 were $121.2 million, representing an increase of 7.2 percent when compared with $113.1 million reported in the third quarter of 1992. This increase was a result of higher activity levels in TMM's Liner Services and its non-shipping activities.
 Due to a decrease in gross profit, primarily due to a reduction in profits in the Far East Service and decreased activity in the car carrier division, in combination with higher administrative expenses, operating income in the third quarter decreased to $7.0 million from $9.9 million reported during the same period of 1992, representing an increase, however, over the $6.1 million reported during the second quarter of 1993. Net income in the third quarter was $4.8 million or $0.09 per share compared with net income of $10.8 million or $0.19 per share during the same period of 1992.
 Revenues for the nine months ended Sept. 30, 1993, were $344.5 million, an increase of 1.1 percent when compared with $340.6 million reported during the same period in 1992.
 Due to higher costs associated with TMM's Far East service, consolidated gross profit for the first nine months of 1993 decreased by 12.3 percent to $59.1 million from $67.4 million for the same period in 1992. Additionally, a decline in gross margins and higher administrative expenses, which increased 11 percent due to the appreciation of the new peso relative to the dollar and inflation in Mexico, led to decreased consolidated operating income of $13.9 million compared with $30.2 million reported during the same period of 1992. Net income for the nine months ended Sept. 30, 1993 was $22.5 million or $0.40 per share, compared with the $30.3 million or $0.59 per share reported during the same period in 1992.
 TMM prepares and reports its financial statements in accordance with International Accounting Standards.
 On Sept. 28, 1993, TMM was awarded two additional contracts with PEMEX, Mexico's state-owned oil company, for the transport of refined petroleum products between Mexican ports. These contracts carry a term of seven years with an option to renew for an additional three year period and bring the total PEMEX contracts awarded to TMM to five.
 Also during the quarter, TMM was awarded an 18-month contract from Nissan to ship cars in containers from Mexico to Japan.
 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 MEXICAN, S.A. DE C.V. AND SUBSIDIARIES
 Consolidated Statement of Income(A)
 (Millions of dollars)
 Periods ended Three Months Nine Months
 Sept. 30 1993 1992 1993 1992
 Revenue from freight and
 services $121.164 $113.069 $344.460 $340.622
 Cost of freight and services (92.454) (84.784) (264.618) (254.423)
 Depreciation of vessels and
 operating equipment (7.251) (6.171) (20.739) (18.781)
 Total (99.705) (90.955) (285.357) (273.204)
 Gross profit 21.459 22.114 59.103 67.418
 Administrative expenses (14.506) (12.244) (45.184) (37.248)
 Operating income 6.953 9.870 13.919 30.170
 Financial expenses (11.673) (11.969) (26.860) (26.693)
 Financial income 12.316 11.531 30.668 29.258
 Exchange gain (loss) - net (1.892) 1.870 (1.066) (0.295)
 Total (1.249) 1.432 2.742 2.270
 Other income (expense) - net (0.250) (0.138) 7.849 0.167
 Income before taxes 5.454 11.164 24.510 32.607
 Provision for taxes (0.132) (0.349) (0.929) (1.748)
 Income before minority interest 5.322 10.815 23.581 30.859
 Minority interest (0.534) (0.053) (1.096) (0.538)
 Net income 4.788 10.762 22.485 30.321
 Weighted average outstanding
 shares (millions) 55.791 56.535 56.422 51.369
 Earnings per share (dollars/
 share) 0.09 0.19 0.40 0.59
 Outstanding shares at end of
 period (millions) 55.791 55.833 55.791 55.833
 Earnings per share (dollars/
 share) 0.09 0.19 0.40 0.54
 (A) -- Prepared in accordance with International Accounting Standards.
 -0- 10/27/93
 /CONTACT: Luis Gutierrez or Pedro Mejorada of TMM, 011-525-665-7744, or 011-525-606-4811, or Cathleen Mayrose of Dewe Rogerson, 212-688-6840/
 (TMM)


CO: Transportacion Maritima Mexicana ST: IN: TRN SU: ERN

CK -- NY125 -- 7606 10/27/93 19:32 EDT
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Date:Oct 27, 1993
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