SCHEDULE 14A INFORMATION
 
          PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
                    EXCHANGE ACT OF 1934 (AMENDMENT NO.   )
 
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[ ]  Preliminary Proxy Statement                                                            
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[ ]  Soliciting Material Pursuant to Section 240.14a-12



                        TRIPLE-S MANAGEMENT CORPORATION
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                (Name of Registrant as Specified In Its Charter)


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                Shareholder, secure your future and your rights


Dear Shareholder:

Receive a friendly greeting from the Triple-S Management family. Over the
years, our shareholders have communicated their interest and need of making the
process of transferring the Corporation's shares more flexible.

In response to such requests, we have prepared various proposals which will be
submitted to your attention at the Meeting to be held on April 24, 2005. The
proposals are principally directed, in first instance, to provide you with more
control over your shares since you will have the right to transfer them during
your lifetime to your spouse and heirs, as long as they are either physicians
or dentists. The proposals also provide you with the flexibility to transfer
your shares to the person of your choosing in case of death even though the
persons you choose are not physicians or dentists. In order to secure that the
Corporation remains under their control, the proposals provide that only
shareholders that are physicians and dentists have the right to vote.
Nevertheless, all shareholders will have participation in the Corporation's
assets proportional to their interests therein.

THIS PLAN REPRESENTS THE BEST OPTION TO GUARANTEE THAT YOU RETAIN CONTROL OF
THE CORPORATION, OF YOUR SHARES AND THAT THE PERSONS YOU CHOOSE RECEIVE THE
BENEFITS OF THE SAME.

In order to implement the proposals, it is necessary to amend the By-laws and
the Articles of Incorporation for which it is necessary that 75% of the issued
and outstanding shares vote in their favor.

We call on you to be present at the Meeting to be celebrated this next April
24, 2005 or to issue a proxy in the form which you have previously received, so
that you exercise your rights as a shareholder and let your presence be felt in
the Corporation by voting in favor of the proposals.


Cordially,



Fernando J. Ysern Borras, MD
Chairman of the Board of Directors
Triple-S Management Corporation