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Transportation Income News

30 Oct 2008

TMM Reports Results

Jose F. Serrano, chairman and chief executive officer of Grupo TMM, said, "Despite weak global economic conditions, in the third quarter of 2008 TMM reported a revenue increase of 24.1 percent, net income of $14m and earnings per share of $.25. The Maritime division continues to produce solid results, confirming our strategy to grow revenues by acquiring vessels. With the acquisition of new vessels in 2008 and 2009, TMM will manage a significantly larger owned fleet than in the past several years. The increase in the number of owned vessels is a direct result of the completed funding of our peso denominated 20-year Trust Certificates Program, which is non-recourse to the Company, and our commitment to capitalize on the growing demands for oil distribution and exploration in .

28 Feb 2008

Grupo TMM Reports 4Q and 2007 Financial Results

Grupo TMM reported its financial results for the fourth quarter and 12 months of 2007.

18 Apr 2001

Proposed Regulations Regarding Source From Activities in Intl. Waters

The Internal Revenue Service (the "IRS") has issued proposed regulations under section 863 of the Internal Revenue Code of 1986, as amended (the "Code"), providing new rules for determining the source of income from activities conducted in international waters for purposes of U.S. income taxation. These new regulations come shortly after the release last year of regulations under Section 883 of the Code that significantly affected the exemption from U.S. income tax of income from the international operation of a vessel owned by a non-U.S. corporation. While the new regulations also apply to space activities and similar new regulations apply to communication activities, the new rules may have the most significant impact on both U.S.