1
                                                                    EXHIBIT 12.1




OPTEL, INC.
DEFICIENCY OF EARNINGS TO FIXED CHARGES




                                                            Period from
                                                           April 20, 1993
                                                             (Date of                      Eight Month      
                                                            Inception) to   Year Ended     Period Ended    Year Ended    Year Ended
                                                             December 31,   December 31,    August 31,     August 31,    August 31,
                                                           ------------------------------------------------------------------------
                                                                1993           1994             1995          1996          1997
                                                                ----           ----             ----          ----          ----


                                                                                                                 
Loss before income taxes                                   $        (307)  $    (7,944)   $    (10,630)   $    (18,430) $   (48,535)
Plus: fixed charges before capitalized interest                        3           114           1,473           6,402       32,335
                                                           ------------------------------------------------------------------------
   Total loss                                              $        (304)  $    (7,830)   $     (9,157)   $    (12,028) $   (16,200)
                                                           ========================================================================

Fixed charges
   Financial expenses (per financial statements)           $           3   $        76    $      1,268    $      5,999  $    31,414
   Interest factor of rental expense of operating leases            -               38             205             403          921
                                                           ------------------------------------------------------------------------
   Total fixed charges before capitalized interest                     3           114           1,473           6,402       32,335
   Capitalized interest                                             -              -               -             1,850        2,256
                                                           ------------------------------------------------------------------------
   Total fixed charges                                     $           3   $       114    $      1,473    $      8,252  $    34,591
                                                           ========================================================================

Deficiency of earnings to fixed charges                    $         307   $     7,944    $     10,630    $     20,280  $    50,791
                                                           ========================================================================

Operating lease expense per financial statements           $        -      $       113    $        616    $      1,208  $     2,763
                                                           ========================================================================



                                                                    
                                                                   Year Ended 
                                                                   August 31,
                                                                  ------------ 
                                                                       1998     
                                                                       ----     
                                                                          
Loss before income taxes                                          $    (74,398) 
Plus: fixed charges before capitalized interest                         49,769  
                                                                  ------------  
   Total loss                                                     $    (24,629) 
                                                                  ============
                                                                 
Fixed charges                                            
   Financial expenses (per financial statements)                  $     48,477
   Interest factor of rental expense of operating leases                 1,292
                                                                  ------------
   Total fixed charges before capitalized interest                      49,769
   Capitalized interest                                                  2,753
                                                                  ------------
   Total fixed charges                                            $     52,522
                                                                  ============
                                                                  $     77,151
Deficiency of earnings to fixed charges                           ============
                                                        
Operating lease expense per financial statements                  $      3,876
                                                                  ============