Exhibit 7.1



TELEFONOS DE MEXICO, S.A. DE C.V. AND SUBSIDIARIES

RATIO OF
EARNINGS TO FIXED CHARGES

Thousands of Mexican pesos with purchasing power at December 31, 2004



|                                                                           |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|-------------------------------------------------------------------------- |  | ---------- | - |  | ---------- | - |  | ---------- | - |  | ---------- | - |  | ---------- | -
|CONCEPT                                                                    |  | 2000       |   |  | 2001       |   |  | 2002       |   |  | 2003       |   |  | 2004       |  
|Mexican GAAP:                                                              |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|                                                                           |  |            |   |  |           
|Income before income tax and employee profit sharing                       |  | 43,996,521 |   |  | 46,459,533 |   |  | 36,255,594 |   |  | 37,309,338 |   |  | 43,134,400 |  
|                                                                           |  |            |   |  |           
|Fixed charges :                                                            |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Interest expense                                                           |  | 12,056,065 |   |  | 8,089,092  |   |  | 6,612,418  |   |  | 6,059,381  |   |  | 6,378,483  |  
|                                                                           |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Earnings under Mexican GAAP                                                |  | 56,052,586 |   |  | 54,548,625 |   |  | 42,868,012 |   |  | 43,368,719 |   |  | 49,512,883 |  
|                                                                           |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Mexican GAAP:                                                              |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Employee profit sharing                                                    |  | 3,990,451  |   |  | 3,450,916  |   |  | 3,283,781  |   |  | 2,719,368  |   |  | 2,822,195  |  
|                                                                           |  |            |   |  |           
|U.S. GAAP adjustments:                                                     |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Total U.S. GAAP adjustments, net                                           |  | (2,246,927 | ) |  | (3,778,662 | ) |  | (1,977,242 | ) |  | (781,638   | ) |  | 399,327    |  
|Deferred income tax                                                        |  | (822,850   | ) |  | (61,551    | ) |  | (308,393   | ) |  | (268,866   | ) |  | 1,838,341  |  
|Interest capitalized during the period                                     |  | 613,235    |   |  | 695,742    |   |  | 407,478    |   |  | 103,637    |   |  | 54,328     |  
|Depreciation of capitalized interest                                       |  | (556,502   | ) |  | (558,092   | ) |  | (523,656   | ) |  | (578,050   | ) |  | (560,081   | )
|Minority interest                                                          |  |            |   |  |            |   |  |            |   |  |            |   |  | 15,751     |  
|                                                                           |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|U.S. GAAP adjustments without deferred income tax and capitalized interest |  | (1,480,810 | ) |  | (3,854,761 | ) |  | (1,552,671 | ) |  | (38,359    | ) |  | (949,012   | )
|                                                                           |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Earnings under U.S. GAAP                                                   |  | 50,581,325 |   |  | 47,242,948 |   |  | 38,031,560 |   |  | 40,610,992 |   |  | 45,741,676 |  
|                                                                           |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Fixed charges:                                                             |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Interest expense under U.S. GAAP                                           |  | 11,442,830 |   |  | 7,393,350  |   |  | 6,204,940  |   |  | 5,955,744  |   |  | 6,357,085  |  
|Interest capitalized during the period                                     |  | 613,235    |   |  | 695,742    |   |  | 407,478    |   |  | 103,637    |   |  | 21,398     |  
|                                                                           |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|Fixed charges under U.S. GAAP                                              |  | 12,056,065 |   |  | 8,089,092  |   |  | 6,612,418  |   |  | 6,059,381  |   |  | 6,378,483  |  
|                                                                           |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|RATIO OF EARNINGS TO FIXED CHARGES:                                        |  |            |   |  |            |   |  |            |   |  |            |   |  |            |  
|                                                                           |  |            |   |  |           
|Mexican GAAP                                                               |  | 4.6        |   |  | 6.7        |   |  | 6.5        |   |  | 7.2        |   |  | 7.8        |  
|                                                                           |  |            |   |  |           
|U.S. GAAP                                                                  |  | 4.2        |   |  | 5.8        |   |  | 5.8        |   |  | 6.7        |   |  | 7.2        |