EXHIBIT 99.1
GRUPO TMM COMPANY CONTACTS: KANSAS CITY SOUTHERN CONTACTS:
Brad Skinner MEDIA
Investor Relations Warren K. Erdman
011-525-55-629-8725 or 203-247-2420 Vice President of Corporate Affairs
(brad.skinner@tmm.com.mx) 816-983-1454
----------------------- (warren.k.erdman@kcsr.com)
Marco Provencio Gabriel Guerra
Media Relations, Proa/StructurA Media Relations
011-525-55-629-8708 and 011-525-55-442-4948 011-525-55-273-5359
(mp@proa.structura.com.mx) (gguerra@gcya.net)
------------------------ ----------------
AT DRESNER CORPORATE SERVICES: INVESTORS
Kristine Walczak William H. Galligan
(general investors, analysts and media) Assistant Vice President Investor
312-276-3600 Relations
(kwalczak@dresnerco.com) 816/983-1551
---------------------- william.h.galligan@kcsr.com
KANSAS CITY SOUTHERN AND GRUPO TMM
RECEIVE APPROVAL FROM
MEXICAN FOREIGN INVESTMENT COMMISSION
Mexico City, October 6, 2004 - Kansas City Southern (NYSE: KSU) ("KCS") and
Grupo TMM, S.A. (NYSE: TMM and BMV: TMM A) ("TMM") announced today that Mexico's
Foreign Investment Commission ("FIC") has notified KCS of its approval of KCS'
new application for authority to acquire TMM's interest in TFM, S.A. de C.V.
("TFM"). TFM is a major freight rail carrier in Mexico. The approval of the FIC
is necessary for a foreign company to become a majority owner of a Mexican
railway company and will remain valid until October 5, 2005.
"We are pleased by this decision and believe it is consistent with previous
decisions by the FIC," said Michael R. Haverty, Chairman, President and CEO of
Kansas City Southern. "This is an important step forward, as authorization of
the FIC is critical for the completion of a transaction."
On September 16, 2004, KCS and TMM announced that they had agreed to extend the
previous deadline under the April 20, 2003 acquisition agreement until June 15,
2005 to provide additional time to complete a transaction.
"We too are pleased by the decision, which is another important step in our
efforts to complete a transaction with KCS," said Jose F. Serrano, Chairman of
TMM.
-more-
Grupo TMM
Add 1
KCS is a transportation holding company that has railroad investments in the
United States, Mexico and Panama. Its primary holding in the United States is
The Kansas City Southern Railway Company. Headquartered in Kansas City,
Missouri, KCS serves customers in the central and south central regions of the
United States. KCS's rail holdings and investments are primary components of a
NAFTA Railway system that links the commercial and industrial centers of the
United States, Canada, and Mexico.
Headquartered in Mexico City, Grupo TMM is Latin America's largest 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.
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 TMM's and KCS'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. For additional information relating to
such risks and uncertainties, readers are urged to review TMM's and KCS's
respective filings and submissions with the Securities and Exchange Commission
under the Securities Exchange Act of 1934, as amended.
In connection with the proposed transaction, KCS will file relevant materials
with the Securities and Exchange Commission ("SEC"), including an amended proxy
statement soliciting stockholder approval of certain actions in connection with
the transaction. Stockholders are urged to read the amended proxy statement, as
well as any amendments and supplements to the proxy statement (if and when they
become available) and any other relevant documents filed with the SEC, because
they will contain important information about the transaction. Stockholders and
investors may obtain the amended proxy statement and any other relevant
documents free of charge at the SEC's Internet web site at www.sec.gov.
Stockholders may also obtain free of charge the amended proxy statement and any
other relevant documents by contacting the office of the Corporate Secretary at
KCS's principal executive offices at (816) 983-1538. Written requests should be
mailed to P.O. Box 219335, Kansas City, Missouri 64121-9335 (or if by United
Parcel Service or other form of express delivery to 427 West 12th Street, Kansas
City, Missouri 64105). Such amended proxy statement is not currently available.
KCS and its directors and executive officers may be deemed to be participants in
the solicitation of proxies from KCS stockholders with respect to approval of
certain actions in connection with the transaction. Information regarding these
directors and executive officers and their beneficial ownership interests in KCS
can be found in KCS's proxy statement on Schedule 14A, filed with the SEC on
April 5, 2004, in connection with the 2004 annual meeting of KCS stockholders.
Investors may obtain additional information regarding the interests of such
participants by reading the amended proxy statement filed in connection with the
transaction when it becomes available.