SCHEDULE 14A INFORMATION

          PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
                    EXCHANGE ACT OF 1934 (AMENDMENT NO.   )

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


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      (Name of Person(s) Filing Proxy Statement, if other than Registrant)


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April 1, 2004


My fellow Shareholder:

It is important that you express your opinion regarding the matters to be
considered at the Annual Meeting of Shareholders to be held on April 25.
Specifically, there are two resolutions that we should approve in order to
implement certain amendments related with some of your concerns.

         o        Resolution #1 would allow a Shareholder to transfer his or
                  her shares to another physician or dentist, whether or not
                  this person is his or her descendant, provided no payment is
                  involved. This change will be approved if at least 2/3 of the
                  shares support it, 5,962.

         o        Resolution #3 would amend the Articles of Incorporation to
                  reduce from 3/4 to 2/3 the affirmative vote required to
                  change the provision that only physicians and dentists can be
                  Shareholders of the Corporation. In order to reduce the
                  affirmative vote to 2/3, we need the support of at least 3/4
                  of the shares, 6,708.

If you would like more information please contact Rosa Gonzalez, who heads the
Office of Shareholders Services and Relations, at telephone (787) 277-6621 or at
1-800-350-8552.

Triple-S is counting on you.



Dr. Fernando Ysern-Borras
Chairman of the Board of Directors


                            YOUR VOTE IS IMPORTANT.
    I STRONGLY ENCOURAGE YOU TO SEND IN THE PROXY THE BOARD HAS REQUESTED.