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Tricom Secures $10 Million Financing SANTO DOMINGO, Dominican Republic, Dec. 19 /PRNewswire-FirstCall/ -- Tricom, S.A. today announced that it has reached an agreement in principle with a group of existing creditors led by Mizuho International, PLC, a member of the Mizuho Financial Group, the world's largest banking group, to obtain a secured $10 million credit facility intended to provide liquidity financing to the Company while it pursues a financial restructuring plan. "This facility will assist the Company with its short-term working capital needs and provide sufficient financial flexibility to implement a financial restructuring plan in a steadfast and prompt manner," said Carl Carlson, Chief Executive Officer. "The Company expects to execute a restructuring that will strengthen its capital base, increase stakeholder value, provide liquidity, and enable the Company to assume its place as an industry leader. This is a strong and positive first step toward achieving our objectives," added Carlson. The one-year $10 million facility, secured by various Company assets, including its Latin American and U.S.-based assets, will mature on December 31, 2004. All transaction fees and interest amounts will be reserved from proceeds and placed in an escrow account. Mandatory prepayments to the loan have been established upon certain asset sales. Under the proposed agreement, the Company has the ability, at its option, to convert the loan to equity as part of a restructuring. In exchange, the financing grants lenders specific options related to future equity investments in Tricom, including rights of first refusal to provide up to $15 million of new equity to fund operations. About TRICOM Tricom, S.A. is a full service communications services provider in the Dominican Republic. We offer local, long distance, mobile, cable television and broadband data transmission and Internet services. Through Tricom USA, we are 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 our subsidiary, TCN Dominicana, S.A., we are the largest cable television operator in the Dominican Republic based on our number of subscribers and homes passed. We also offer digital mobile integrated services including two-way radio and paging services in Panama using iDEN(R) technology. For more information about Tricom, please visit http://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 Further Information Contact: Miguel Guerrero, Investor Relations Ph (809) 476-4044 / 4012 E-mail: 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. DATASOURCE: Tricom, S.A. CONTACT: Miguel Guerrero, Investor Relations, Tricom, +1-809-476-4044, ext. 4012, or Web site: http://www.tricom.net/ http://www.tdr-investor.com/

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