EXHIBIT 99.1

       TRICOM TO INITIATE RESTRUCTURING; FAILURE TO CURE INTEREST PAYMENT

SANTO DOMINGO, Dominican Republic, Oct. 2 -- Tricom, S.A. (NYSE: TDR - News)
today announced that it has initiated discussions with holders of its 11-3/8%
Senior Notes, and its bank lenders, and is continuing discussions with potential
strategic partners, to formulate a restructuring plan.

The Company did not make an approximately $11.4 million interest payment on its
11-3/8% Senior Notes due 2004, originally scheduled for September 2, 2003. The
Company has engaged Bear, Stearns & Co. Inc. to help advise in its restructuring
efforts and to help evaluate financial and strategic alternatives.

About TRICOM

Tricom, S.A. is a full service communications services provider in the Dominican
Republic. The Company offers local, long distance, mobile, cable television and
broadband data transmission and Internet services. Through Tricom USA, the
Company is one of the few Latin American based long distance carriers that is
licensed by the U.S. Federal Communications Commission to own and operate
switching facilities in the United States. Through its subsidiary, TCN
Dominicana, S.A., the Company is the largest cable television operator in the
Dominican Republic based on its number of subscribers and homes passed. The
Company also offers digital mobile integrated services including two-way radio
and paging services in Panama using iDEN(R) technology. For more information
about Tricom, please visit www.tricom.net

Cautionary Language Concerning Forward-Looking Statements Statements in this
press release that are not strictly historical in nature are forward-looking
statements. These statements are only predictions based on current information
and expectations and involve a number of risks and uncertainties. Actual events
or results may differ materially due to various factors. Factors which may cause
actual results to differ materially from those discussed herein include economic
considerations that could affect demand for telecommunications services and the
ability of the Company to make collections, inflation, regulatory factors, legal
proceedings, exchange controls and occurrences in currency markets, competition,
and the risk factors set forth in the Company's various filings with the
Securities and Exchange Commission, including its more recently filed Annual
Report on Form 20-F. The Company undertakes no obligation to revise these
forward-looking statements to reflect events or circumstances after the date
hereof.

For additional information, please visit Tricom's Investor Relations website at
http://www.tdr-investor.com or contact our Investor Relations department at the
above numbers.