8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

_______________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 13, 2004

TERREMARK WORLDWIDE, INC.

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)

1-12475
(Commission File Number)

52-1981922
(IRS Employer Identification Number)

2601 S. Bayshore Drive, Miami, Florida 33133
(Address of principal executive offices)

Registrant’s telephone number, including area code: (305) 856-3200

Not applicable
(Former Name or Former Address, if Changed Since Last Report)

Item 7. Financial Statements Pro Forma Financial Information and Exhibits.

(a) Financial Statements of Business Acquired.

     Not applicable

(b) Pro Forma Financial Information.

     Not applicable

(c) Exhibits.

     Exhibit 99.1 — Press Release of Terremark Worldwide, Inc. dated May 13, 2004

Item 12. Results of Operations and Financial Conditions

     On May 13, 2004, Terremark Worldwide, Inc. (the “Company”) issued a press release announcing guidance for its fiscal year ending March 31, 2005. A copy of the press release is furnished with this Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

     The press release includes non-GAAP financial measures as such term is defined in Regulation G under the rules of the Securities and Exchange Commission. While the Company believes these non-GAAP financial measures are useful in evaluating the company, this information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP.

     The information in this Form 8-K and the Exhibit 99.1 attached hereto shall be deemed “furnished” and not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any Company filing under the Securities Act of 1933, as amended.

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TERREMARK WORLDWIDE, INC.
Date: May 17, 2004	By:	/s/ Jose Segrera
		Jose Segrera
		Chief Financial Officer

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Index to Exhibits

Exhibit No.	Exhibit Title
99.1	Press Release of Terremark Worldwide, Inc. – May 13, 2004

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EX-99.1

Terremark [Logo]

2601 S. Bayshore Drive, 9th floor, Miami, Florida 33133 Office (305) 856-3200  •  Fax (305) 856-8190

For Immediate Release

TERREMARK WORLDWIDE ANNOUNCES GUIDANCE FOR
FISCAL YEAR ENDING MARCH 31, 2005

MIAMI, FL (May 13, 2004) – Terremark Worldwide, Inc. (AMEX:TWW), a leading operator of integrated Tier-1 Network Access Points (NAPs) and best-in-class network services, today announced guidance for its fiscal year ending March 31, 2005, based on recent new customer contracts and customer expansions.

For fiscal year 2005, the Company projects that its revenue will range from $60 million to $65 million, income from operations will range from $0.5 million to $3 million and EBITDA will range from $5 million to $8 million. Based on anticipated increase in revenues during fiscal year 2005, the Company expects that, for the month ending March 31, 2005, its revenue will range from $6.5 million to $7 million, income from operations will range from $1.6 million to $2 million and EBITDA will range from $2.1 million to $2.6 million.

Additionally, the company is disclosing the following operating metrics as of March 31, 2004:

Cross connects:	1,417
Peering ports:	42
Space by location:

(Square Feet)	Gross		Net
Miami		240,000		135,000
Santa Clara		40,000		30,000
Sao Paulo		5,000		4,500
Madrid		7,000		6,500
		292,000		176,000
Current utilization of total net space:				13	%
Number of customers:		152
Total number of employees:		145

EBITDA is a non-GAAP financial measure of profitability commonly used by the investment community for evaluation purposes. EBITDA is defined as income from operations less depreciation, amortization and stock based compensation. EBITDA should be considered in addition to, but not in lieu of income from operations reported under GAAP.

-more-

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TERREMARK WORLDWIDE ANNOUNCES GUIDANCE FOR
FISCAL YEAR ENDING MARCH 31, 2005
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About Terremark Worldwide, Inc.

Terremark Worldwide Inc. (AMEX:TWW) is a leading operator of integrated Tier-1 Network Access Points (NAPs) and best-in-class network services, creating technology marketplaces in strategic global locations. Terremark is the owner and operator of the NAP of the Americas, the 5th Tier-1 Network Access Point in the world and the model for the carrier-neutral TerreNAP(sm) Data Centers the company has in Santa Clara, California (NAP of the Americas/West), in Sao Paulo, Brazil (NAP do Brasil) and in Madrid, Spain (NAP de las Americas - Madrid). The carrier-neutral NAP of the Americas is a state-of-the-art facility that provides exchange point, collocation and managed services to carriers, Internet service providers, network service providers, government entities, multi-national enterprises and other end users. The NAP, which connects fiber networks in Latin America, Europe, Asia and Africa to those in the U.S., enables customers to freely choose among the many carriers available at the TerreNAP Centers to do business. Terremark is headquartered at 2601 S. Bayshore Drive, 9th Floor, Miami, Florida USA, (305) 856-3200. More information about Terremark Worldwide can be found at http://www.terremark.com.

Statements contained in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Terremark’s actual results may differ materially from those set forth in the forward-looking statements due to a number of risks, uncertainties and other factors, as discussed in Terremark’s filings with the SEC. These factors include, without limitation, Terremark’s ability to obtain funding for its business plans, uncertainty in the demand for Terremark’s services or products and Terremark’s ability to manage its growth. Terremark does not assume any obligation to update these forward-looking statements.

Contacts:
Terremark Worldwide, Inc., Miami
Sandra Gonzalez-Levy, 305-860-7829
sgonzalez-levy@terremark.com

Media Relations
Edelman
Jim Burke
305-358-5299
jim.burke@edelman.com

Investor Relations
RCG Capital Markets Group, Inc.
Joe Diaz
480-675-0400
jdiaz@rcgonline.com

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