EXHIBIT 99.4 Stock Pledge Agreement, dated March 1, 2005 by and among Servicios Directivos Servia, S.A. de C.V. Jose F. Serrano Segovia, Javier Segovia Serrano, Ixe Banco S.A., Institucion de Banca Multiple, Ixe Grupo Financiero and Ixe, Casa de...

                                                                    EXHIBIT 99.4

Stock  Pledge  Agreement,  dated March 1, 2005 by and among Servicios Directivos
Servia,  S.A. de C.V. Xxxx X. Xxxxxxx Xxxxxxx, Xxxxxx Xxxxxxx Xxxxxxx, Ixe Banco
S.A.,  Institucion  de  Banca  Multiple,  Ixe  Grupo Financiero and Ixe, Casa de
Bolsa,  S.A.  de  C.V.,  Ixe  Grupo  Financiero

Pursuant  to  this  agreement, 6,566,203 Series A Shares of Grupo TMM, S.A. were
pledged by Xxxx X. Xxxxxxx Xxxxxxx and Xxxxx Xxxxxxx Xxxxxxx to Ixe Banco, S.A.,
Institucion  de  Banca  Multiple,  Ixe  Grupo  Financiero  to  secure  a loan to
Servicios  Directivos  Servia,  S.A.  de  C.V. in the aggregate amount of US$7.0
million.