TRICOM, S.A. AND SUBSIDIARIES

Selected Financial and Operating Data (unaudited)

(In US$)

Sequential

% Y-o-Y%

1Q'04 4Q'04 1Q'05 Chng. Chng.

Economic Statistics (a):

Increase in C.P.I.

(12-month aggregate) 62.3% 28.7% 4.3% -- --

Increase in C.P.I year-to-date 24.4% 28.7% 0.8% -- --

Exchange rate (at period end) $44.58 31.07 28.06 -9.7% -37.1%

Avg. period exchange rate $48.20 31.04 29.31 -5.6% -39.2%

Selected Financial Data:

Capital expenditures

(In US$000s) $766 9,805 1,540 -84.3% 101.1%

Total employees (at period end) 1,397 1,417 1,420 0.2% 1.6%

Selected Operating Data:

Lines in service 146,567 153,440 156,057 1.7% 6.5%

Cellular & PCS subscribers 276,343 345,636 319,573 -7.5% 15.6%

Cable subscribers 59,530 59,320 60,461 1.9% 1.6%

Data / Internet subscribers 14,356 14,876 15,301 2.9% 6.6%

Long distance minutes

(in 000s) (b) 284,634 191,312 230,003 20.2% -19.2%

Footnote:

(a) Source: Dominican Republic Central Bank; TRICOM, S.A.

(b) Includes inbound, outbound and domestic long distance minutes.

CPI = Consumer Price Index

n.m. = Not meaningful

Note to Financial Statements

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. In recent years, the Company has suffered recurring losses from operations, which have been impacted further by the recognition of impairment losses of long-term assets and intangibles and the loss in the disposal of the Central America operations, which have led the Company to default in its long and short-term debt commitments. These situations, among others, raise substantial doubt about the Company's ability to continue as a going concern.

TRICOM, S.A. AND SUBSIDIARIES

Consolidated Balance Sheets

(In US$ Thousands)

December 31, March 31,

2004 2005

(Unaudited) (Unaudited)

Assets

Current assets

Cash on hand and in banks $17,723 $24,029

Accounts receivable:

Customers 19,094 20,528

Carriers 5,300 5,971

Others 3,358 3,646

27,752 30,146

Allowance for doubtful accounts (3,180) (3,959)

Accounts receivable, net 24,571 26,186

Inventories, net of allowances 1,698 1,497

Current portion of investments 505 --

Prepaid expenses 3,521 7,926

Deferred income taxes 1,368 1,368

Total current assets 49,386 61,008

Mortgage investments 986 1,090

Property and equipment, net 332,222 317,502

Intangible assets 2,665 2,665

Other assets at cost,

net of amortization 3,680 3,732

$388,939 $385,996

TRICOM, S.A. AND SUBSIDIARIES

Consolidated Balance Sheets (cont.)

(In US$)

December 31, March 31,

2004 2005

Liabilities and Stockholders' Equity (Unaudited) (Unaudited)

Current liabilities

Notes payable:

Borrowed funds $47,724 $44,948

Commercial paper 57,120 55,473

Current portion of long-term debt 328,902 333,089

433,746 433,510

Capital leases 14,531 14,531

Accounts payable:

Carriers 7,027 7,685

Suppliers 13,468 9,290

Others 395 1,414

20,890 18,390

Other liabilities 8,338 9,543

Interest payable 90,246 105,898

Deferred income tax 1,183 1,183

Accrued expenses 15,688 17,753

Total current liabilities 584,622 600,807

Reserve for severance indemnities 50 161

Total liabilities 584,672 600,968

Stockholders' equity:

Class A Common Stock at par value

RD$10: Authorized 55,000,000 shares;

45,458,041 shares issued at

December 31, 2004, and March 31, 2005 24,951 24,951

Class B Stock at par value RD$10:

Authorized 25,000,000 shares at

December 31, 2004, and March 31,

2005; 19,144,544 issued at

December 31, 2004, and March 31, 2005 12,595 12,595

Additional paid-in-capital 275,497 275,497

Retained loss (506,753) (525,991)

Other comprehensive income-foreign

currency translation (2,024) (2,024)

Stockholders' equity, net (195,733) (214,972)

$388,939 $385,996

TRICOM, S.A. AND SUBSIDIARIES

Consolidated Statement of Operations

(In US$ Thousands)

Three Months Ended

March 31,

2004 2005

(Unaudited) (Unaudited)

Operating revenues:

Long distance $21,534 $18,587

Domestic telephony 11,734 20,577

Mobile 6,350 9,239

Cable 2,599 4,663

Data and Internet 1,108 1,917

Other 11 5

Total operating revenues 43,336 54,989

Operating costs and expenses:

Cost of sales and services 20,954 21,877

Selling, general and

administrative expenses 12,853 17,781

Depreciation and amortization 16,811 16,034

Special items and restructuring costs 2,052 1,209

Total operating costs and expenses 52,670 56,901

Operating income (9,334) (1,912)

Other income (expenses):

Interest expense (15,397) (16,500)

Interest income 13 82

Foreign currency exchange gain (loss) 1,410 (1,023)

Other, net 19 205

Other expenses, net (13,955) (17,236)

Loss before income taxes (23,289) (19,148)

Income taxes, net (60) (90)

Net loss $(23,349) (19,238)

Loss per common share $(0.36) $(0.30)

Average number of common

shares used in calculation 64,603 64,603

TRICOM, S.A. AND SUBSIDIARIES

Consolidated Statement of Cash Flows (Unaudited)

(In US$ Thousands)

Period Ended

March 31,

2004 2005

(Unaudited) (Unaudited)

Cash flows from operating activities:

Net loss $(23,349) (19,238)

Adjustments to reconcile

net loss to net cash provided

by operating activities:

Depreciation 16,752 15,980

Allowance for doubtful accounts 354 1,051

Amortizations 59 54

Effect of exchange rate in debt (1,287) 1,594

Expense for severance indemnities -- --

Net changes in assets and

liabilities:

Accounts receivable (1,882) (2,666)

Inventories (1,356) 481

Prepaid expenses (3,451) (4,406)

Other assets 2,712 (106)

Accounts payable (5,320) (2,500)

Other liabilities (145) 1,205

Accrued expenses 23,093 17,716

Reserve for severance indemnities (612) 111

Total adjustments 28,918 28,514

Net cash provided by (used in)

operating activities $5,569 $9,276

Cash flows from investing activities:

Disposition (acquisition)

of investments (81) 402

Acquisition of property and equipment (766) (1,540)

Net cash used in investing activities $(847) $(1,139)

Cash flows from financing activities:

Borrowed (paid) funds (287) --

Proceeds from issuance

of commercial paper -- --

Payments of commercial paper (5) (1,831)

Payments of long-term debt -- --

Net cash provided by

financing activities $(292) $(1,831)

Net increase in cash and

cash equivalents 4,430 6,307

Cash and cash equivalents

at beginning of the period 2,964 17,723

Cash and cash equivalents

at end of period $7,394 $24,029