. . . EXHIBIT 8.1

SUBSIDIARY JURISDICTION ---------- ------------ "Condor" Immobilien-Gesellschaft mbH..................................... Germany "Fontax" Grundstucks-Verwaltungs- gesellschaft mbH & Co. KG............... Germany 1085974 Ontario Limited................... Canada 48 ND Victoire............................ France 5557 Greens Farm, LLC..................... Connecticut A. Diffusion.............................. France A.D.I.C................................... Colombia A.G.L..................................... Laos A.V.F..................................... Belgium AAAM...................................... France A-Car Inc................................. Cayman Islands Accident, Risques Divers SA............... France Achte SIB Beteiligungs- Aktiengesellschaft...................... Germany Acmar..................................... Maroc ACM-Compagnie Mercur Aktiengesellschaft..................... Germany ACN 000 335 802 Limited................... Australia Activim................................... France ADAM Asia Pacific GmbH.................... Germany ADAM Australia Ltd. ...................... Australia ADAM Deutschland GmbH..................... Germany ADAM Europe GmbH.......................... Germany ADAM Hellas S.A........................... Greece ADAM International GmbH................... Germany ADAM Singapore............................ Singapore ADAM Taiwan............................... Taiwan ADAM U.S. Holding LLC..................... Delaware ADAM U.S. Partners GP..................... Delaware ADEUS Aktienregister-Service GmbH......... Germany Adriatica de Seguros C.A.................. Venezuela Advance Holding AG........................ Germany Advisa Zurich AG.......................... Switzerland AFA....................................... France AFC Assecuranz- und Finanzvermittlungs-Contor GmbH.......... Germany Agemis GmbH............................... Germany AGF 2X.................................... France AGF AFRIQUE............................... Ivory Coast AGF Allianz Argentina Compania de Seguros Generales S.A................... Argentina AGF Allianz Chile Compania de Seguros Generales S.A. ................. Chile AGF Allianz South America Ltda............ Brazil AGF ALTERNATIVE 2 ANS LH.................. France AGF ALTERNATIVE 2 ANS MIN LH.............. France AGF ALTERNATIVE HOLDINGS PARTENAIRES MIN LH...................... France AGF Ameriques D........................... France AGF ARC Limited........................... United Kingdom AGF Asac Actions.......................... France AGF Asia.................................. Singapore AGF Asset Management S.A.................. France AGF Assurances Financieres................ France

SUBSIDIARY JURISDICTION ---------- ------------ AGF Assurfinance.......................... France AGF Belgium Holding S.A................... Belgium AGF Belgium Insurance S.A................. Belgium AGF Benelux S.A........................... Luxembourg AGF Boieldieu............................. France AGF Brasil Seguros S.A.................... Brazil AGF Brasil Vida........................... Brazil AGF Chile S.A............................. Chile AGF CREATIONS1............................ France AGF CREATIONS2............................ France AGF do Brasil Ltda........................ Brazil AGF Euro Actions C et D................... France AGF Europe Convertible.................... France AGF Financement 2......................... France AGF Haut Rendement........................ France AGF Holding............................... France AGF Holdings UK........................... United Kingdom AGF HOSPITAL EURO L....................... France AGF HOSPITAL EURO LM...................... France AGF Hospitaliers Monde.................... France AGF Immobilier............................ France AGF Indonesia............................. Indonesia AGF Informatique.......................... France AGF Insurance Limited..................... United Kingdom AGF International......................... France AGF Inversiones S.A....................... Argentina AGF La Lilloise........................... France AGF Life Luxembourg S.A................... Luxembourg AGF Marches Emergents..................... France AGF Multi Alternatives L.................. France AGF Multi Alternatives LM................. France AGF Opera................................. France AGF Opti Index............................ France AGF Pension Trustees...................... United Kingdom AGF Private Equity........................ France AGF Projet Management Ltd................. Great Britain AGF RAS Holding BV........................ Netherlands AGF Re Luxembourg......................... Luxembourg AGF Richelieu............................. France AGF Saint-Marc............................ France AGF Saude S.A............................. Brazil AGF SECURICASH L.......................... France AGF SECURICASH LM......................... France AGF SECURICASH NL......................... France AGF Securite.............................. France AGF UK.................................... France AGF USA LM................................ France AGF USA N................................. France AGF USA USA............................... France AGFimo.................................... France AGIS Allianz Dresdner Informationssysteme GmbH, Unterfohring............................ Germany Agora Courtage............................ France Agricola San Felice S.p.A................. Italy AI II Industriebesitz und Beteiligungen AG & Co. OHG............................... Germany AI Industriebesitz und Beteiligungen Isar-Amperwerke AG & Co. OHG............................... Germany

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SUBSIDIARY JURISDICTION ---------- ------------ Aiolos Vermogensverwaltungsgesellschaft MbH.................................... Germany Airbus-Leasing Beteiligungsgesellschaft mbH........... Germany Ajax Insurance Holdings Limited.......... United Kingdom Alba Allgemeine Versicherungs- Gesellschaft........................... Switzerland Albertini & C. SGR pA (vormals A. D. Gestioni SGR pA).................... Italy Albertini & C. SIM pA.................... Italy Alexander Kralis Ltd. ................... Greece Alfa Trade Corporation spol s.r.o. ...... Czech Republic Alico-Beteiligungsgesellschaft mbH....... Germany Alida Grundstucksgesellschaft mbH & Co. KG........................... Germany Alida Grundstucksverwaltungs GmbH................................... Germany ALLAGO AG................................ Germany Allianz Australian (Run-Off) Limited................................ Australia Allianz (Canadian) Insurance Management Inc......................... Canada Allianz (UK) Ltd......................... United Kingdom Allianz AADB Fonds....................... Germany Allianz ABS Fonds........................ Germany Allianz AGF MAT UK Holding............... Great Britain Allianz Alpic Finance Company Ltd. ...... India Allianz America Latina S.C. Ltda. ....... Brazil Allianz Asset Management (Ltd.).......... HongKong Allianz Asset Management Ltd............. United Kingdom Allianz Asset Management................. Switzerland Allianz Australia Workers Compensation (Victoria) Limited................................ Australia Allianz Australia Advantage Ltd.................................... Australia Allianz Australia Employee Share Plan Pty Ltd..................... Australia Allianz Australia Finance Holdings Pty Ltd................................ Australia Allianz Australia Insurance Limited................................ Australia Allianz Australia International Limited................................ Australia Allianz Australia Limited................ Australia Allianz Australia Services (No. 2) ...... Australia Allianz Australia Services Pty Limited................................ Australia Allianz Australia Workers Compensation (NSW) Limited............. Australia Allianz Australia Workers Compensation (SA) Limited.............. Australia Allianz Autowelt GmbH.................... Germany Allianz BADB Fonds....................... Germany Allianz Beteiligungs Management GmbH................................... Germany Allianz Bulgaria Holding Company Ltd.................................... Bulgaria

3

SUBSIDIARY JURISDICTION ---------- ------------ Allianz Bulgaria Insurance and Reinsurance Company Ltd................ Bulgaria Allianz Bulgaria Life Insurance Company Ltd............................ Bulgaria Allianz Bulgaria Pension Assurance Company Ltd............................ Bulgaria Allianz Capital Management GmbH.......... Germany Allianz Capital Partners GmbH............ Germany Allianz Cash Pool LLC.................... Delaware Allianz Center Management GmbH (ACM).................................. Germany Allianz Compagnia Italiana Finanziamenti S.p.A.................... Italy Allianz Compania de Seguros y Reaseguros S.A......................... Spain Allianz Cornhill Equity Investments Ltd. ............... United Kingdom Allianz Cornhill Financial Management Ltd. ............. United Kingdom Allianz Cornhill Information Services Private Ltd. ..... India Allianz Cornhill Insurance Company Pension United Kingdom Fund Trustees Ltd. .................... Allianz Cornhill Insurance PLC........... United Kingdom Allianz Cornhill Investment Properties Ltd. ............ United Kingdom Allianz Cornhill Northern Ireland Limited........................ United Kingdom Allianz Corporate Ireland Insurance p.l.c. ........................ Ireland Allianz Credit Card Management Co., S.A. ................................. Greece Allianz Dazhong Life Insurance Company Ltd............................ China Allianz Dresdner Asset Management (UK) Ltd.............................. United Kingdom Allianz Dresdner Asset Management AG......................... Germany Allianz Dresdner Asset Management Hong Kong Ltd. ............. HongKong Allianz Dresdner Asset Management Ltd......................... Australia Allianz Dresdner Asset Management Luxembourg S.A. ............ Luxembourg Allianz Dresdner Asset Management of America LLC............................ Delaware Allianz Dresdner Asset Management of America LP.......................... Delaware Allianz Dresdner Asset Management of America Inc. ....................... Delaware Allianz Dresdner Asset Management U.S. Equities LLC...................... Delaware Allianz Dresdner Asset Management U.S. Equities LLC...................... Delaware Allianz Dresdner Bauspar AG.............. Germany Allianz Dresdner Funds Ltd. ............. United Kingdom Allianz Dresdner I-1, S.A. de C.V. SIEFORE................................ Mexico Allianz Dresdner Management Services (UK) Ltd. ............................. United Kingdom

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SUBSIDIARY JURISDICTION ---------- ------------ Allianz Dresdner Mutual Fund Management Co. S.A. ................... Greece Allianz Dresdner Pension Consult GmbH........................... Germany Allianz Dresdner Pensionsfonds AG........ Germany Allianz Dresdner Securities Investment Consulting Company Ltd................. Taiwan Allianz Education Fund Inc. ............. Canada Allianz Education Funds International LLC.................................... Minnesota Allianz EFU Health Insurance Ltd.................................... Pakistan Allianz Elementar Lebensversicherungs- Aktiengesellschaft..................... Austria Allianz Elementar Versicherungs- Aktiengesellschaft..................... Austria Allianz Elementar Werkkuchen- Betriebsgesellschaft mbH............. Austria Allianz Europe Ltd. ..................... Netherlands Allianz FADB Fonds....................... Germany Allianz Far East Holding GmbH............ Germany Allianz Finance B.V...................... Netherlands Allianz Finance Corporation.............. Delaware Allianz Finance II B.V................... Netherlands Allianz Finanzbeteiligungs GmbH.......... Germany Allianz FinanzInvest Beratungs Ges.mbH................................ Austria Allianz Fire and Marine Insurance Japan Ltd.............................. Japan ALLIANZ FRANCE........................... France Allianz General Insurance Company S.A................................... Greece Allianz General Insurance Korea Ltd. ... Korea Allianz General Insurance Malaysia Berhad p.l.c.......................... Malaysia Allianz GLA Fonds....................... Germany Allianz Global Risks Ruckversicherungs-AG.................. Germany Allianz Global Risks US Insurance Company..................... California Allianz GLR Fonds....................... Germany Allianz GLU Fonds....................... Germany Allianz HAI 2 Fonds..................... Germany Allianz Hedge Fund P. (Caymen) ......... Cayman Islands Allianz Hedge Fund P. SARL.............. Delaware Allianz Hedge Fund Parners LP........... Delaware Allianz Hedge Fund Partners Holdings LP........................... Delaware Allianz Hedge Fund Partners, Inc. ...... Delaware Allianz HKV-Fonds....................... Germany Allianz Hungaria Biztosito Rt.......................... Hungary Allianz Immobilien GmbH................. Germany Allianz Immobilienfonds 1 KG............ Germany Allianz Immobilienfonds GmbH............ Germany Allianz Individual Insurance Group LLC............................. Minneapolis Allianz Informatik Beteiligungsgesellschaft mbH.......... Germany

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SUBSIDIARY JURISDICTION ---------- ------------ Allianz Insurance (Hong Kong) Limited............................... HongKong Allianz Insurance (Hong Kong) Limited............................... HongKong Allianz Insurance Company of Canada................................ Canada Allianz Insurance Company of Singapore Pte. Ltd.................... Singapore Allianz Insurance Holding Company GmbH.................................. Germany Allianz Insurance Investments Pty Ltd................................... Australia Allianz Insurance Limited............... South Africa Allianz Insurance Management Asia Pacific Pte. Ltd...................... Singapore Allianz International Ltd. ............. United Kingdom Allianz Invest Kapitalanlage GmbH.................................. Austria Allianz Investment 1 B.V. .............. Netherlands Allianz Investment 2 B.V. .............. Netherlands Allianz Investment 3 B.V. .............. Netherlands Allianz Investment 4 B.V. .............. Netherlands Allianz Investment 5 B.V. .............. Netherlands Allianz Investment 6 B.V. .............. Netherlands Allianz Investment 7 B.V. .............. Netherlands Allianz Investment 8 B.V. .............. Netherlands Allianz Investment 9 B.V. .............. Netherlands Allianz Investment 10 B.V. ............. Netherlands Allianz Investment 11 B.V. ............. Netherlands Allianz Investment 12 B.V. ............. Netherlands Allianz Investment 13 B.V. ............. Netherlands Allianz Investment 14 B.V. ............. Netherlands Allianz Investment 15 B.V. ............. Netherlands Allianz Investment Bank AG (A.I.B.).............................. Austria Allianz Investment Company LLC.......... Connecticut Allianz Investment Management B.V. ..... Netherlands Allianz Ireland p.l.c. ................. Ireland Allianz Irish Life Holdings p.l.c................................. Ireland Allianz Kundenservice Gesellschaft mbH...................... Austria Allianz Leben Private Equity Fonds Plus GmbH.................................. Germany Allianz Lebensversicherungs-AG.......... Germany Allianz Life Insurance Korea Company Ltd........................... Allianz Life Insurance Company of North America......................... Minnesota Allianz Life Insurance Company S.A................................... Greece Allianz Life Insurance Malaysia Berhad p.l.c.......................... Malaysia Allianz Life Insurance of New York........................... New York Allianz Marine & Aviation France........ France Allianz Marine & Aviation Versicherungs-AG...................... Germany Allianz Marine (UK) Ltd. ............... United Kingdom

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SUBSIDIARY JURISDICTION ---------- ------------ Allianz Mexico S.A. Compania de Seguros.................. Mexico Allianz MRD Fonds...................... Germany Allianz Nederland Groep NV............. Netherlands Allianz Nederland Levens- Verzekering N.V. .................... Netherlands Allianz Nederland Schade- Verzekering N.V. .................... Netherlands Allianz New Zealand Limited............ New Zealand Allianz Objektbeteiligungs- GmbH....... Germany Allianz of America Corp................ New York Allianz of America, Inc................ Delaware Allianz of Asia-Pacific and Africa GmbH................................. Germany Allianz of Canada, Inc................. Canada Allianz of South Africa (Proprietary) Ltd.................... South Africa Allianz Osteuropa Vermogensverwaltungsgesellschaft MbH.................................. Germany Allianz Pensionskasse AG............... Austria Allianz Pensionskasse AG............... Germany Allianz PIMCO Capital Managers GmbG........................ Germany Allianz pojist'ovna a.s. .............. Czech Republic Allianz President General Insurance............................ Taiwan Allianz President Life Insurance............................ Taiwan Allianz Private Equity GmbH............ Germany Allianz Private Equity Holding GmbH................................. Germany Allianz Private Equity Partners GmbH................................. Germany Allianz Private Equity Partners Inc. ................................ New York Allianz Private Krankenversicherungs-AG.............. Germany Allianz ProzessFinanz GmbH............. Germany Allianz PV WS Fonds.................... Germany Allianz Re Dublin Ltd. ................ Ireland Allianz Real Estate Corporation........ Delaware Allianz Rechtsschutz-Service GmbH................................. Germany Allianz Rentas Vitalicias.............. Mexico Allianz Risk Consultant SRL............ Romania Allianz Risk Consultants B.V. ......... Netherlands Allianz Risk Consultants Inc. ......... California Allianz Risk Transfer.................. New York Allianz Risk Transfer AG............... Switzerland Allianz Risk Transfer (Bermuda) Ltd. .. Bermuda Allianz Risk Transfer N.V. ............ Netherlands Allianz Romania SA..................... Romania Allianz S.A., A.S. Agencia de Seguros........................... Spain Allianz Services (UK) Limited.......... United Kingdom Allianz Services Sp. Z o.o. ........... Poland Allianz Servicios Tecnicos, A.I.E. .............................. Spain Allianz Share Scheme Trustees Limited..................... United Kingdom

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SUBSIDIARY JURISDICTION ---------- ------------ Allianz Sociedad de Valores S.A. ...... Spain Allianz Societe Financiere S.a.r.l. ... Luxembourg Allianz Subalpina Societa di Assicurazioni e Riassicurazioni S.p.A. .............................. Italy Allianz Suisse Immoblilien AG.......... Switzerland Allianz Suisse Lebensversicherungs- Gesellschaft......................... Switzerland Allianz Suisse Personal Financial Services AG.......................... Switzerland Allianz Suisse Versicherungs- Gesellschaft......................... Switzerland Allianz Taunusanlage GbR............... Germany Allianz Technical Service Inc. ........ Delaware Allianz Tiriac Insurance S.A........... Romania Allianz Underwriters Insurance Company.............................. California Allianz Venture Partners Beteiligungs- GmbH................................. Germany Allianz Venture Partners GmbH Germany Allianz Versicherungs-AG............... Germany Allianz VKA Fonds...................... Germany Allianz VKBR-Fonds..................... Germany Allianz VKRD-Fonds..................... Germany Allianz VLBR-Fonds..................... Germany Allianz VSR Fonds...................... Germany Allianz VVB Fonds...................... Germany Allianz Wohneigentum GmbH.............. Germany Allianz Worldwide Care Ltd............. Ireland Allianz Zagreb d.d..................... Croatia Allianz ZB d.o.o. Company for the Management of an Obligatory Pension Fund......................... Croatia Allianz ZB d.o.o. Company of the Management of Voluntary Pension Funds, Zagreb....................... Croatia Allianz Zentrum fur Technik GmbH................................. Germany Allianz Zivnobanka penzijni fond as.............................. Czech Republic Allianz-ALD-Fonds...................... Germany Allianz-ALIK-Fonds..................... Germany Allianz-AVI-1 Fonds.................... Germany Allianz-AVM-B-Fonds.................... Germany Allianz-BRD-Fonds...................... Germany Allianz-DESTO-AR-Fonds................. Germany Allianz-DESTO-Fonds.................... Germany Allianz-DGD-Fonds...................... Germany Allianz-DRD-Fonds...................... Germany Allianz-EAI-Fonds...................... Germany Allianz-EFI-1-Fonds.................... Switzerland Allianz-FAD-Fonds...................... Germany Allianz-FRD-Fonds...................... Germany Allianz-HAI-1-Fonds.................... Germany Allianz HME 1 Fonds................. Germany Allianz-Invest-11, Division Leben/Kranken........................ Austria Allianz-Invest-11, Division S/U ....... Austria Allianz-Invest-12, Division Leben/Kranken........................ Austria

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SUBSIDIARY JURISDICTION ---------- ------------ Allianz-Invest-12, Division SU ........ Austria Allianz Invest Spezial 2............ Austria Allianz Invest Spezial 3............ Austria Allianz LAD Fonds.................... Germany Allianz LBR Fonds.................... Germany Allianz LFE Fonds.................... Germany Allianz LRD Fonds.................... Germany Allianz PV 1 Fonds.................. Germany Allianz RFG Fonds.................... Germany Allianz RMO 1 Fonds................. Germany Allianz SALCO Fonds.................. Germany Allianz SDR Fonds.................... Germany Allianz SOA Fonds.................... Germany Allianz SWAG Fonds................... Germany Allianz UGD 1 Fonds (UPR)........... Germany Allianz VAD Fonds.................... Germany Allianz VAE Fonds.................... Germany Allianz VGI 1 Fonds (UPR)........... Germany Allianz VGL Fonds.................... Germany Allianz VIA Fonds, Division SU....... Switzerland Allianz-PacLife Partners LLC........... Delaware Allianz-Slovenska poist'ovna a.s....... Slovakia ALLVOR AG.............................. Switzerland ALV Vermogensverwaltungs- gesellschaft AG...................... Austria Am Anger Immobilienverwaltungs- GmbH................................. Germany Am Anger Verwaltungs-GmbH & Co. KG............................. Germany Amaya AG............................... Switzerland Amaya Compania de Seguros y Reaseguros SA........................ Spain American Automobile Insurance Company.............................. Missouri American Credit Indemnity Services............................. Maryland Antoniana Veneta Popolare Assicurazioni S.p.A.................. Italy Antoniana Veneta Popolare Vita S.p.A........................... Italy Aquila Beteiligungsgesellschaft mbH.................................. Germany Aquila International Fonds........... Austria Arab International Insurance Company S.A.E........................ Egypt Arab International Life Assurance Company S.A.E........................ Egypt ARC Services........................... United Kingdom Arcalis................................ France Ares- Vermogensverwaltungsgesellschaft MbH.................................. Germany Arlon Properties S.A................... Luxembourg ARSA BV................................ Netherlands Artemis Nominees Ltd................... HongKong AS Industriebesitz und Beteiligungen Allianz Versicherungs-AG & Co. OHG........... Germany Asopos Vermogensverwaltungsgesellschaft mbH.................................. Germany

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SUBSIDIARY JURISDICTION ---------- ------------ ASREX.................................... France Assimediass S.r.l........................ Italy ASSISTANCE AND SERVICES CORPORATION OF IRELAND "A.S.C.I."............................. Ireland Assistance, Courtage d'Assurance et de Reassurance...................... France Associated Group Benefits Ltd............ Canada Associated Indemnity Corporation......... California Association Program Managers, Inc.................................... Illinois Assurance Finance Europe (AFI Europe)........................... France Assurance Vie et Prevoyance (AVIP IARD) SA......................... France Assurance Vie et Prevoyance (AVIP) SA.............................. France Assurances Federales BV.................. France Assurances Federales..................... France Assurances Generales de France Iart S.A........................ France Assurances Generales de France Vie S.A......................... France Assurances Generales de France................................. France Athena Gestion........................... France Athena................................... France Atrium SAS............................... France Atropos Vermogensverwaltungsgesellschaft mbH.................................... Germany Auslands-Incasso-Bank GmbH............... Germany Auto Assist SARL......................... Thailand Axioma Insurance (Cyprus) Ltd........................... Cyprus AZ General Insurance Vietnam............. Vietnam AZ Global Risk Ltd. ..................... South Africa AZ Leben Private Equity Fonds 2001 GmbH................................... Germany AZ Private Equity (UK) Holdings Ltd. ......................... United Kingdom AZ Private Equity Specialised Investment Holding GmbH................ Germany AZ Via Immo 3............................ France AZ-ACI VVG mbH........................... Germany AZ-Alico Beteiligungsgesellschaft mbH & Co. KG........................... Germany AZ-Almuco VVG mbH........................ Germany AZ-Aquila Beteiligungsgesellschaft mbH & Co. KG........................... Germany AZ-Arges Vermogensverwalgungsgesellschaft mbH.................................... Germany AZ-Argos 2 VVG mbH....................... Germany AZ-Argos 3 VVG mbH....................... Germany AZ-Argos 4 VVG mbH....................... Germany AZ-Argos 5 VVG mbH....................... Germany AZ-Argos 6 VVG mbH....................... Germany

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SUBSIDIARY JURISDICTION ---------- ------------ AZ-Argos 9 VVG mbH....................... Germany AZ-Argos 10 VVG mbH...................... Germany AZ-Argos 11 VVG mbH...................... Germany AZ-Argos 12 VVG mbH...................... Germany AZ-Argos 13 VVG mbH...................... Germany AZ-Argos 14 VVG mbH...................... Germany AZ-Argos 15 VVG mbH...................... Germany AZ-Argos 16 VVG mbH...................... Germany AZ-Argos 17 VVG mbH...................... Germany AZ-Argos 18 VVG mbH...................... Germany AZ-Argos 19 VVG mbH...................... Germany AZ-Argos 21 VVG mbH...................... Germany AZ-Argos 22 VVG mbH..................... Germany AZ-Argos 24 VVG mbH...................... Germany AZ-AVG Beteiligungsgesellschaft mbH & Co. KG........................... Germany AZ-AZL VVG mbH........................... Germany AZB-1Beteiligungsgesellschaft GmbH & Co. KG............................... Germany AZB-Arges Vermogensverwaltungsgesellschaft mbH.................................... Germany AZB-Arion Vermogensverwaltungsgesellschaft mbH.................................... Germany AZF-Arges1 Vermogensverwaltungsgesellschaft mbH.................................... Germany AZF-Arges2 Vermogensverwaltungsgesellschaft mbH.................................... Germany AZF-Arion Vermogensverwaltungsgesellschaft mbH.................................... Germany AZG-Arges Vermogensverwaltungsgesellschaft mbH.................................... Germany AZ-LAD VVG mbH........................... Germany AZL-Alico Vermogensverwaltungsgesellschaft mbH.................................... Germany AZL-Almuco VVG mbH....................... Germany AZ-Lambda Beteiligungs-OHG............... Germany AZL-DRB VVG mbH.......................... Germany AZ-Leben Private Equity Fonds 1998 GmbH.............................. Germany AZ-LIN Vermogensverwaltungsgesellschaft mbH.................................... Germany AZL-Nona VVG mbH......................... Germany AZL-Regina Vermogensverwaltungsgesellschaft mbH.................................... Germany AZL-SER Vermogensverwaltungsgesellschaft mbH.................................... Germany AZ-MPS Beteiligungsgesellschaft mbH & Co. KG........................... Germany AZ-Nona Beteiligungsgesellschaft mbH & Co. KG........................... Germany

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SUBSIDIARY JURISDICTION ---------- ------------ AZ-Quarta Beteiligungsgesellschaft mbH & Co. KG........................... Germany AZ-Quinta Vermogensverwaltungsgesellschaft mbH.................................... Germany AZ-Regina Beteiligungsgesellschaft mbH & Co. KG........................... Germany AZS-Arges Vermogensverwaltungsgesellschaft mbH.................................... Germany AZ-SDC Vermogensverwaltungsgesellschaft mbH.................................... Germany AZ-SER Vermogensverwaltungsgesellschaft mbH.................................... Germany AZ-SGD Private Equity Fonds GmbH................................... Germany AZ-SIE Beteiligungsgesellschaft mbH & Co. KG........................... Germany AZV-Arges Vermogensverwaltungsgesellschaft mbH.................................... Germany AZV-Arion Vermogensverwaltungsgesellschaft mbH.................................... Germany AZV-Nona Vermogensverwaltungsgesellschaft mbH.................................... Germany BACAB S.A. .............................. Switzerland BAF Berlin Animation Film GmbH & Co. Produktions KG.............. Germany BAF Zeichentrickfilm Beteiligungsgesellschaft mbH........... Germany Banco AGF Bresil S.A..................... Brazil Bank for Europe Ltd. .................... United Kingdom Bankhaus W. Fortmann & Sohne............. Germany Banque AGF S.A........................... France BANQUE pour l'EUROPE SA EUROPA BANK AG BANK for EUROPE Ltd............ Luxembourg BARTEC AB................................ Sweden BARTEC AS................................ Netherlands BARTEC Barlian Industries Switzerland Holding AG............................. BARTEC Belgium N.V. ..................... Belgium BARTEC Benke GmbH........................ Germany BARTEC Consult GmbH...................... Germany BARTEC d.o.o. ........................... Hungary BARTEC d.o.o. ........................... Slovenia BARTEC Elektrotechnik GmbH............... Austria BARTEC Engineering + Services AG......... Switzerland Bartec GmbH.............................. Germany BARTEC Ltd. ............................. Japan BARTEC Nederland B.V. ................... Netherlands BARTEC Nederland Ultrakust Division B.V. ............... Netherlands BARTEC Pte Ltd. ......................... Singapore BARTEC S.A. ............................. Spain BARTEC s.a.r.l. ......................... France BARTEC s.r.l. ........................... Italien

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SUBSIDIARY JURISDICTION ---------- ------------ BARTEC s.r.o. ........................... Czech Republic BARTEC Sicherheits- Schaltanlagen GmbH..................... Germany BARTEC UK Ltd. .......................... United Kingdom BARTEC US Corp. ......................... Oklahoma BARTEC Varnost d.o.o. ................... Slovenia BAWAG Allianz Mitarbeitervorsorgekasse AG............ Austria Bayerische Versicherungsbank AG.......... Germany BD-Financial Management Ltd.............. Ireland BERGA Grundstucks- Verwaltungsgesellschaft mbH & Co. KG........................... Germany Bergwitzer Braunkohle AG................. Germany Bernese Assicurazioni Compagnia Italo-Svizzera di Assicurazioni e Riassicurazioni S.p.A................ Italy Bernese Assicurazioni Finanziaria S.p.A.................................. Italy Bernese Vita Compagnia Italo- Svizzera di Assicurazioni e Riassicurazioni sulla Vita S.p.A.................................. Italy BFC Berliner Film Companie Distribution GmbH...................... Germany BFC Berliner Film Companie Produktions GmbH....................... Germany BFC Berliner Film Companie Studio GmbH............................ Germany BIC...................................... Brazil Bilan Service............................ France BIP Arbitrage-Gesellschaft mbH i. L. ............................. Germany BIP Asesoria SA.......................... Spain BNP-AK-Dresdner Finansal Kiralama A.S. ......................... Turkey BNP-Dresdner European Austria Bank AG................................ Borgo San Felice S.r.l. ................. Italy Borrowdale Nominees Ltd.................. United Kingdom Braun & Co. Gesellschaft mbH............. Austria Bridge Re Limited........................ Massachusetts British Financial Union Ltd.............. United Kingdom British Reserve Insurance Co. Ltd.................................... United Kingdom Buck Consultants Ireland................. Ireland Buck Heissmann B.V. NL................... Netherlands Buck Heissmann International Services GmbH.......................... Germany Buck Heissmann S.L., E................... Spain Buck Heissmann Sarl, CH.................. Switzerland Buizerlann............................... Netherlands Bulgaria Net Co. Ltd..................... Bulgaria Bureau d'Expertises Despretz S.A.................................... Belgium Burgel Beteiligungs GmbH................. Germany Burgel Erfurt Beteiligungsgesellschaft mbH.................................... Germany Burgel Erfurt GmbH & Co. KG.............. Germany Burgel Wirtschaftsinformationen AG Zurich................................. Switzerland

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SUBSIDIARY JURISDICTION ---------- ------------ Burgel Wirtschaftsinformationen GmbH & Co. KG.......................... Germany Burgel Wirtschaftsinformationen Hamburg GmbH........................... Germany Burgel Wirtschaftsinformationen Vertriebsgesellschaft mbH.............. Germany Burgel Wirtschaftsinformationen Verwaltungs-GmbH....................... Germany Cabinet Terlier SARL..................... France Cadence Capital Management............... Delaware Cadence Capital Mangement Inc............ Delaware Calypso S.A.............................. France Camat.................................... France CAMI COMMERZBANK ASSET Italy MANAGEMENT ITALIA SPA.................. Canada Brokerlink (Ontario) Inc.................................... Canada Canada Brokerlink Inc.................... Canada CAP...................................... France Carene................................... France Carquesel Ltd............................ United Kingdom Carwood Holdings II, Inc. ............... Delaware Carwood Holdings, Inc. .................. Delaware CASBROKERS............................... Chile Cathedral Limited........................ United Kingdom Caywood Scholl Capital Management LLC.................................... Delaware CBL Financial Inc. ...................... Canada CCA...................................... France CCB Zweite FraMu Beteiligungs GmbH....... Germany Cerip France............................. France CERT Zertifizierungsgesellschaft mbH.................................... Germany Chicago Auto Insurance Service, Inc.................................... Illinois Chicago Insurance Company................ Illinois CIC Allianz Insurance Ltd. .............. Australia City of Westminster Insurance Company Ltd. .................. United Kingdom Claims Consultancy & Investigation Services Limited....................... Ireland Classic Finance BV....................... Netherlands CLB S.a.r.l. ............................ Luxembourg CLS Group Holdings AG.................... Germany Club Marine (N.Z.) Ltd................... New Zealand Club Marine Limited...................... Australia Codinf Services.......................... France CODINF................................... France Cofreph.................................. France Colseguros Capitalizacion................ Colombia Colseguros Generales S.A................. Colombia Colseguros Vida S.A...................... Colombia Colserauto............................... Colombia Comercial de seguros de asistencia S.L. .................... Spain Commercial Bank Allianz Bulgaria Ltd. ......................... Bulgaria Commerzbank LEBENCO Fonds.............. Germany Compagnie d'Assurance de Protection Juridique S.A............... Switzerland

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SUBSIDIARY JURISDICTION ---------- ------------ Compagnie de Gestion et Prevoyance............................. France Compagnie Financiere pour la Realisation d'Operations Immobilieres "COFIDIM"................. France Companhia de Seguros Allianz Portugal S.A........................... Portugal Compania Colombia De Inversion Colseguros S.A. ............. Colombia COMPANIA DE ASISTENCIA SUDAMERICANA S.A. (CAS SA)............. Chile Comptoir Financier de Garantie (C.F.G.)............................... France Continental Can Europe Services B.V.i.l. .............................. Netherlands Continental Plastics Europe GmbH i.L. ...................... Germany Coparc................................... France Cornhill Insurance (Guernsey) Ltd.................................... United Kingdom Cornhill Investments Properties Ltd.................................... United Kingdom Cornhill Trustee (Guernsey) Ltd.................................... United Kingdom Cornhill Unit Trust Managers Ltd.................................... United Kingdom Corporate Secretaries (Jersey) Ltd.................................... United Kingdom Corporate Services (Guernsey) Ltd.................................... United Kingdom Corsetec................................. Brazil COTINCO Assessoria Empresarial Ltda...... Brazil COTINCO Beratungsgesellschaft mbH........ Germany COTINCO Consultora Tecnica, Industrial y Comercial SA.............. Mexico Courtage de Nogent-Le Perreux............ France Credit Lyonnais Capital 1................ Luxembourg Credito Argentino Germanico SA........... Argentina Credito Germanico S.A. .................. Uruguay CreditRas Assicurazioni S.p.A............ Italy CreditRas Vita S.p.A..................... Italy Crop Growers Corporation................. Delaware Crop Growers Insurance Services Inc.................................... Washington Cros Belcher Investissements............. France DAG Management and Trading Comapny Ltd. .......................... Cayman Islands DARTA SAVING LIFE ASSURANCE LTD. ........................ Ireland Dazix Rentals Ltd........................ United Kingdom dbi Global Equity Portfolio.............. Germany DBI Insurance Company Ltd. .................................. United Kingdom DBI-AVM-Fonds............................ Germany DBI-HK1-827-Fonds........................ Germany dbi-Fonds AKAR........................... Germany dbi-Fonds AKAS........................... Germany dbi-Fonds Ammerland...................... Germany dbi-Fonds BAG............................ Germany

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SUBSIDIARY JURISDICTION ---------- ------------ dbi-Fonds DAV............................ Germany dbi-Fonds DBLA........................... Germany dbi-Fonds DF............................. Germany dbi-Fonds MAXIMILIAN..................... Germany dbi-Fonds Ostfriesland................... Germany dbi-Fonds WE............................. Germany DDS Dresdner Direktservice GmbH.......... Germany DEGI Deutsche Gesellschaft fur Immobilienfonds mbH.................... Germany Delaware Valley Investment Services LLC........................... Delware Delcon Finanz AG......................... Switzerland Delta-Vermogensverwaltungs- Gesellschaft mbH....................... Germany DET Beteiligungsgesellschaft mbH i. L. ............................. Germany Deutsche Aussenhandels-Gesellschaft mbH.................................... Germany Deutsche Lebensversicherungs-AG.......... Germany Deutscher Investment Trust limited Liability Company.............. Russian Republic DEUTSCHER INVESTMENT-TRUST Gesellschaft fur Wertpapieranlagen mbH.................. Germany DFV Deutsche Fonds- und Vorsorgeberatungs GmbH................. Germany Dieznet Comercio Eloctronico, SA......... Spain Dimensione S.R.L......................... Italy DirecDial Financial Services Limited................................ Australia Disko-Flug Vermietungsgesellschaft mbH i. L. ............................. Germany DIT FONDS ALSI........................... Germany DIT FONDS EEE............................ Germany DIT FONDS PV-RD.......................... Germany DK Capital Advisory Services (India) Private Ltd. .................. India DKNA Phoenix LLC......................... Delaware DMC Dresdner Management Consult GmbH................................... Germany DMC Dresdner Management Consult South East Asia Pte Ltd................ Singapore DOF, Enterprise Unipersonelle a Responsabilite Limitee................. France Domestic Insurance Services Ltd.................................... United Kingdom Donator Beteiligungsverwaltung GmbH...... Germany DORANA Dreiundvierzigste Verwaltungsgesellschaft mbH............ Germany DR Gesellschaft fur Diagnostik und Rehabilitation mbH..................... Germany Dr. Dr. Heissmann GmbH Unternehmensberatung fur Versorgung & Vergutung................. Germany Drager KB GmbH........................... Germany DRCM INDICE JAPON L...................... France DreCan Holding Ltd....................... Canada Drechsel Beleggingen BV.................. Netherlands Dreiundzwanzigste DRESIB Beteiligungs-Gesellschaft mbH.......... Germany

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SUBSIDIARY JURISDICTION ---------- ------------ Dreizehnte FraMu Beteiligungs GmbH...................... Germany Dreizehnte SIB Beteiligungs- Aktiengesellschaft..................... Germany Dresdner Advisors LLC.................... Delware Dresdner Asset Management (UK) Ltd.............................. United Kingdom Dresdner Asset Management Brasil S/A Distribuidora de Titulos e Valores Mobiliarios.................. Brazil Dresdner Asset Management Ltd.................................... Singapore Dresdner Asset Management................ Brazil Dresdner Bank (Hungaria) Rt.............. Hungary Dresdner Bank (Ireland) plc.............. Ireland Dresdner Bank (Schweiz) AG............... Switzerland Dresdner Bank AG......................... Germany Dresdner Bank Berlin Finanz-Service i.L. GmbH.............................. Germany Dresdner Bank Berlin Immobilien- Service GmbH........................... Germany Dresdner Bank Brasil S.A. Corretora de Cambio, Titulos e Valores Mobiliarios............................ Brazil Dresdner Bank Brasil SA Banco Multiplo............................... Brazil Dresdner Bank Canada -- Banque Dresdner du Canada -- ................ Canada Dresdner Bank Croatia dd................. Croatia Dresdner Bank CZ as...................... Czech Republic Dresdner Bank Gestions France............ France Dresdner Bank Lateinamerika AG........... Germany Dresdner Bank Lateinamerika.............. Chile Dresdner Bank Luxembourg SA.............. Luxembourg Dresdner Bank Polska S.A. ............... Poland Dresdner Bank ZAO........................ Russian Republic Dresdner BdW Beteiligungsverwaltungsgesellschaft mbH & Co. KG........................... Germany Dresdner Brasil Representacoes Ltda...... Brazil Dresdner Brasil Servicos Ltda............ Brazil Dresdner Brasil, Participacoes e Servicos Overseas Ltda................. Portugal Dresdner Brazil Finance Ltd.............. Cayman Islands Dresdner Capital International Kapitalanlagegesellschaft mbH i. L.............................. Germany Dresdner Capital LLC I................... Delaware Dresdner Capital LLC II.................. Delaware Dresdner Capital LLC III................. Delaware Dresdner Capital LLC IV.................. Delaware Dresdner Capital LLC V................... Delaware Dresdner Capital LLC VI.................. Delaware Dresdner Capital LLC VII................. Delaware Dresdner Corporate Finance GmbH.......... Germany Dresdner Finance BV...................... Netherlands Dresdner Finanzberatungsgesellschaft MbH.................................... Germany Dresdner Finanziaria SpA................. Italy Dresdner Forfaitierungs Aktiengesellschaft..................... Switzerland

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SUBSIDIARY JURISDICTION ---------- ------------ Dresdner Fund Administration (Cayman) Ltd........................... Cayman Islands Dresdner Gazdasagi Szolgaltato Kft........................ Hungary Dresdner Gestion Privee.................. France Dresdner Global Asset Management Beteiligungs-GmbH...................... Germany Dresdner Guatemala Representacion, Sociedad Anonima....................... Guatemala Dresdner International Management Services Ltd........................... Ireland Dresdner Investments (UK) Ltd............ United Kingdom Dresdner Kleinwort Benson Emerging Europe (GP) Ltd........................ United Kingdom Dresdner Kleinwort Benson General Life Sciences LP....................... New York Dresdner Kleinwort Benson North America Inc............................ Delaware Dresdner Kleinwort Benson Private Equity Partner LP...................... New York Dresdner Kleinwort Benson Private Equity UK Limited...................... United Kingdom Dresdner Kleinwort Benson Services (Guernsey) Ltd......................... United Kingdom Dresdner Kleinwort Benson Services EURL................................... France Dresdner Kleinwort Capital (USA) Inc.................................... New York Dresdner Kleinwort Capital 1 Limited Partnership............................ New York Dresdner Kleinwort Capital 1 LLC......... United Kingdom Dresdner Kleinwort Capital Advisory services Pte Ltd.............. Singapore Dresdner Kleinwort Capital Advisory SpA........................... Italy Dresdner Kleinwort Capital Asia Ltd.................................... HongKong Dresdner Kleinwort Capital Beratungs GmbH................................... Germany Dresdner Kleinwort Capital C&EE General Partner Ltd.................... Cayman Islands Dresdner Kleinwort Capital Central & Eastern Europe GP Ltd................ Delaware Dresdner Kleinwort Capital Emerging Europe Beteiligungsverwaltung GmbH................................... Germany Dresdner Kleinwort Capital Investment Company Ltd................. United Kingdom Dresdner Kleinwort Capital Investment Trust Ltd................... United Kingdom Dresdner Kleinwort Capital Italia Beteiligungsverwaltung GmbH............ Germany Dresdner Kleinwort Capital Jersey Ltd.... United Kingdom Dresdner Kleinwort Capital Life Sciences Managers L.P.................. Delaware Dresdner Kleinwort Capital LLC........... New York Dresdner Kleinwort Capital Partners 2001 Limited Partnership............... Delaware Dresdner Kleinwort Capital Tanascado Korlatolt Feleossegu Hungary

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SUBSIDIARY JURISDICTION ---------- ------------ Dresdner Kleinwort Capital UK Ltd........ United Kingdom Dresdner Kleinwort Capital Ventures Management Ltd......................... United Kingdom Dresdner Kleinwort Capital Verwaltungs GmbH....................... Germany Dresdner Kleinwort Holdings Inc.......... New York Dresdner Kleinwort Wasserstein (Argentina) SA......................... Brazil Dresdner Kleinwort Wasserstein (Canada) Ltd........................... Canada Dresdner Kleinwort Wasserstein (China) Ltd............................ HongKong Dresdner Kleinwort Wasserstein (DRC) Ltd.............................. United Kingdom Dresdner Kleinwort Wasserstein (Hong Kong) Ltd........................ HongKong Dresdner Kleinwort Wasserstein (Japan) Limited........................ Japan Dresdner Kleinwort Wasserstein (LBDP) Holdings Ltd.................... United Kingdom Dresdner Kleinwort Wasserstein (LBDP) Ltd............................. United Kingdom Dresdner Kleinwort Wasserstein (Nominees) Pte. Ltd. .................. Singapore Dresdner Kleinwort Wasserstein (Services) Inc, Panama City............ Panama Dresdner Kleinwort Wasserstein (South East Asia)...................... Singapore Dresdner Kleinwort Wasserstein Advisory Services (Thailand) Ltd......................... Thailand Dresdner Kleinwort Wasserstein Asesorias y Inversiones Chile Ltda................................... Chile Dresdner Kleinwort Wasserstein Australia (Securitisation) Pty Ltd..... Australia Dresdner Kleinwort Wasserstein Australia Ltd.......................... Australia Dresdner Kleinwort Wasserstein Beteiligungs-Gesellschaft mbH.......... Germany Dresdner Kleinwort Wasserstein Derivative Investments Limited Limited................................ United Kingdom Dresdner Kleinwort Wasserstein do Brasil s/c Ltda........................ Brazil Dresdner Kleinwort Wasserstein Equipment LLC.......................... Delaware Dresdner Kleinwort Wasserstein Europe Ltd............................. United Kingdom Dresdner Kleinwort Wasserstein Finance BV............................. Netherlands Dresdner Kleinwort Wasserstein Finance EURL........................... France Dresdner Kleinwort Wasserstein Finance Inc. .......................... New York Dresdner Kleinwort Wasserstein France SAS............................. France Dresdner Kleinwort Wasserstein France SCA............................. France

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SUBSIDIARY JURISDICTION ---------- ------------ Dresdner Kleinwort Wasserstein Grantchester Securities Inc. .......... Delaware Dresdner Kleinwort Wasserstein Group Inc.............................. Delaware Dresdner Kleinwort Wasserstein Group Ltd.............................. Great Britain Dresdner Kleinwort Wasserstein Inc.................................... Delaware Dresdner Kleinwort Wasserstein Leasing December (1) Ltd............... United Kingdom Dresdner Kleinwort Wasserstein Leasing December (2) Ltd............... United Kingdom Dresdner Kleinwort Wasserstein Leasing December (3) Ltd............... United Kingdom Dresdner Kleinwort Wasserstein Leasing December (4) Ltd............... United Kingdom Dresdner Kleinwort Wasserstein Leasing December (5) Ltd............... United Kingdom Dresdner Kleinwort Wasserstein Leasing December (6) Ltd. ............. United Kingdom Dresdner Kleinwort Wasserstein Leasing Inc............................ Delaware Dresdner Kleinwort Wasserstein Leasing International Ltd.............. United Kingdom Dresdner Kleinwort Wasserstein Leasing June (1) Ltd................... United Kingdom Dresdner Kleinwort Wasserstein Leasing June (2) Ltd................... United Kingdom Dresdner Kleinwort Wasserstein Leasing June (3) Ltd................... United Kingdom Dresdner Kleinwort Wasserstein Leasing Ltd............................ United Kingdom Dresdner Kleinwort Wasserstein Leasing March (1) Ltd.................. United Kingdom Dresdner Kleinwort Wasserstein Leasing March (2) Ltd.................. United Kingdom Dresdner Kleinwort Wasserstein Leasing March (3) Ltd.................. United Kingdom Dresdner Kleinwort Wasserstein Leasing September (1) Ltd.............. United Kingdom Dresdner Kleinwort Wasserstein Leasing September (3) Ltd.............. United Kingdom Dresdner Kleinwort Wasserstein Leasing September (4) Ltd.............. United Kingdom Dresdner Kleinwort Wasserstein LLC........................ Russian Republic Dresdner Kleinwort Wasserstein Ltd........................ United Kingdom Dresdner Kleinwort Wasserstein Metals Ltd............................. United Kingdom Dresdner Kleinwort Wasserstein Online Ventures Ltd.................... United Kingdom Dresdner Kleinwort Wasserstein Overseas Employees Ltd................. United Kingdom Dresdner Kleinwort Wasserstein Overseas Holdings plc.................. United Kingdom Dresdner Kleinwort Wasserstein Partnership 2001 LP.................... United Kingdom Dresdner Kleinwort Wasserstein Partnership 2001 Ltd................... United Kingdom

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SUBSIDIARY JURISDICTION ---------- ------------ Dresdner Kleinwort Wasserstein Property Management & Services Ltd........................... United Kingdom Dresdner Kleinwort Wasserstein Research (Malaysia) SDN BHD................................ Malaysia Dresdner Kleinwort Wasserstein Research GmbH.......................... Germany Dresdner Kleinwort Wasserstein Securities (Asia) Holdings Ltd. ....... HongKong Dresdner Kleinwort Wasserstein Securities (Asia) Ltd.................. HongKong Dresdner Kleinwort Wasserstein Securities (Australia) Pty Ltd......... Australia Dresdner Kleinwort Wasserstein Securities (India) Private Ltd.................................... India Dresdner Kleinwort Wasserstein Securities France SA................... United Kingdom Dresdner Kleinwort Wasserstein Securities LLC......................... Delaware Dresdner Kleinwort Wasserstein Securities Ltd......................... United Kingdom Dresdner Kleinwort Wasserstein Securities SIM S.p.A................... Italy Dresdner Kleinwort Wasserstein Services LLC........................... Delaware Dresdner Kleinwort Wasserstein Servicios y Asesorias Ltda............. Ivory Coast Dresdner Kleinwort Wasserstein sp zoo.................................... Poland Dresdner Lateinamerika Financial Advisors LLC........................... Florida Dresdner Lateinamerika S.A. Corredores de Bolsa.................... Chile Dresdner Management Institut GmbH........ Germany Dresdner Pension Fund Holdings LLC.................................... Delaware Dresdner Polska Sp.z.o.o. ............... Poland Dresdner Private Placement GmbH & Co. SREI KG..................... Germany Dresdner Private Placement GmbH................................... Germany Dresdner RCM Distributors LLC............ California Dresdner RCM Finances.................... France Dresdner RCM Gestion..................... France Dresdner RCM Global Investors (Jersey) Australia..................... Australia Dresdner RCM Global Investors (Jersey) HongKong...................... HongKong Dresdner RCM Global Investors (Jersey) Ltd........................... United Kingdom Dresdner RCM Global Investors (Jersey) Taiwan........................ Taiwan Dresdner RCM Global Investors Commingled Funds LLC................... California Dresdner RCM Global Investors Hong Kong Ltd............................... HongKong Dresdner RCM Global Investors LLC...................................... Delaware

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SUBSIDIARY JURISDICTION ---------- ------------ Dresdner RCM Global Investors Pacific Ltd. .......................... Bermuda Dresdner RCM Global Investors US Holdings LLC........................... Delaware Dresdner RCM Nominee Services Ltd........ United Kingdom Dresdner RCM Strategic Holdings (HK) Ltd. HongKong Dresdner RCM Trust Company............... California Dresdner Securitized Products GmbH....... Germany Dresdner Symphonica Management S.A. ..... Luxembourg Dresdner U.S. Finance Inc................ Delaware Dresdner Versicherung GmbH............... Germany Dresdner Wirtschaftsdienstleistungsgesellschaft mit beschrankter Haftung............... Hungary Dresdner Zahlungsverkehrsservice GmbH................................... Germany dresdnerbank investment management Kapitalanlagegesellschaft mbH.......... Germany DresdnerGrund-Fonds...................... Germany Dresdner-RCM (Mexico) Operadora De Fondos, S. A. de C. V. ............. Mexico DreTec Software Ltd...................... Ireland Dritte DRESIB Beteiligungs- Gesellschaft mbH....................... Germany Dritte FraMu Beteiligungs GmbH........... Germany Dritte Herakles Beteiligungs- Gesellschaft mbH & Co. KG.............. Germany Dritte SIB Beteiligungs- Aktiengesellschaft..................... Germany Dritte Sonnenplatz Beteiligungs- Gesellschaft mbH....................... Germany Drk Capital (Czech Republic) sro......... Czech Republic DrKW Asset Finance Ltd................... United Kingdom DRKW EIV Manager,Inc. ................... Delaware DrKW Equipment Finance (June) Ltd........ United Kingdom DrKW Equipment Finance Ltd............... United Kingdom DrKW Finance LLC......................... Delaware DrKW Fleet Finance (June) Ltd............ United Kingdom DrKW Fleet Finance (March) Ltd........... United Kingdom DrKW Fleet Finance (September) Ltd....... United Kingdom DrKW Fleet Finance Ltd................... United Kingdom DrKW Holdings II, Inc. .................. Wilmington DrKW Holdings LLC........................ Wilmington DrKW Holdings, Inc. ..................... Wilmington DrKW Industrial Leasing Ltd.............. United Kingdom DrKW Services (Guernsey) Ltd. ........... United Kingdom DrKW Standby Nominees Ltd................ United Kingdom egemis GmbH.............................. Germany EIF Power Funds.......................... United Kingdom Einundzwanzigste DRESIB Beteiligungs-Gesellschaft mbH.......... Germany El Fenix Espanol S.A. (EFE).............. Spain Elco Leasing Ltd......................... United Kingdom ELF Technologies Limited................. Ireland Elfte FrauMu Beteiligungs GmbH........... Germany Elfte SIB Beteiligungs- Aktiengesellschaft..................... Germany

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SUBSIDIARY JURISDICTION ---------- ------------ Elfte Sonnenplatz Beteiligungs- Gesellschaft mbH....................... Germany ELUCYDEE................................. France ELVIA Assistance GmbH.................... Austria ELVIA Assistance Kft. (Ltd.)............. Hungary ELVIA Assistance s.r.o................... Czech Republic ELVIA Reiseversicherungs- Gesellschaft AG........................ Switzerland ELVIA S.p.z.o.o.......................... Poland ELVIA Service S.r.l...................... Italy ELVIA Travel Insurance International N.V...................... Netherlands ELVIASeg S.A............................. Spain ELVIASSIST Servicos de Assistencia 24 Horas LDA........................... Portugal EmployersLink Corporation................ Delaware Empresa de Inversiones S.A. ............. Peru Energy Insurance Company Ltd............. Bulgaria ENTENIAL................................. France EP Euro-Projektentwicklungs GmbH & Co. Objekt 1 KG...................... Germany EP Euro-Projektentwicklungs GmbH & Co. Objekt Am Markt Chemnitz KG............................ Germany EP Euro-Projektentwicklungs- GmbH & Co. Objekt Koln-Porz KG.................... Germany EP Euro-Projektentwicklungs- Verwaltungs GmbH....................... Germany Epsiiclinica............................. France Ernst Vigener GmbH & Co. KG.............. Germany Erobon Ltd............................... United Kingdom Erste DRESIB Beteiligungs- Gesellschaft mbH....................... Germany Erste FraMu Beteiligungs GmbH............ Germany Etablissement Nomeco SA.................. France Eta-Vermogensverwaltungsgesellschaft mbH. Germany ETI Australia Pty Ltd.................... Australia Etoile Fonciere et Immobiliere........... France EULER SERVICIOS DE CREDITO.............. Spain Euler -- SFAC Recouvrement............... France Euler & Hermes Germany GmbH.............. Germany Euler & Hermes Germany GmbH.............. Germany

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SUBSIDIARY JURISDICTION ---------- ------------ Euler Hermes Cescob, uverova pojist'ovna A.S. .............. Czech Republic Euler Hermes Credit Insurance Belgium S.A. (N.V.) ......... Belgium Euler Hermes Credit Services (JP) Ltd. .................... Japan Euler Hermes Credit Underwriters HongKong Ltd.............. HongKong Euler Hermes Forderungs- management GmbH........................ Germany Euler Hermes Gesellschaft fur Finanzdienstleistungen mbH............. Germany Euler Hermes Gesellschaft fur Informationsdienstleistungen........... Germany Euler Hermes Guarantee plc. ............. United Kingdom Euler Hermes Interborg N.V. ............. Netherlands Euler Hermes Krediet- Verzekering NV......................... Netherlands Euler Hermes Kreditforsakring Norden AB.............................. Sweden Euler Hermes Kreditvericherungs-AG.................. Germany Euler Hermes Kreditverzekering NV................... Netherlands Euler Hermes Magyar Hitelbiztosito Rt. .................... Hungary Euler Hermes Magyar Koveteleskezelo........................ Hungary Euler Hermes Rating GmbH................. Germany Euler Hermes Risk Management GmbH & Co. KG............... Germany Euler Hermes Risk Management Verwaltungs-GmbH............ Germany Euler Hermes S.A. ....................... France Euler Hermes Seguros De Credito S.A. ....................... Brazil Euler Hermes Services AG................. Switzerland Euler Hermes Services Belgium S.A. .......................... Belgium Euler Hermes Servicii Financiare............................. Romania Euler Hermes Servis s.r.o. .............. Slovakia Euler Hermes SFAC S.A. .................. France Euler Herme SIAC S.p.A. ................. Italy Euler Hermes Sudosteuropa Versicherungsholding GesmbH Austria Euler Hermes UK plc w.e.f. .............. United Kingdom Euler Hermes plc......................... United Kingdom Euler Hermes Versicherungs- Beteiligungen GmbH..................... Germany Euler Hermes Zarzadzanie Ryzkiem Sp. z.o.o. .................... Poland Euler Hermes, Anna Kozinska - Kancelaria Prawna sp.k. ............... Poland EULER Holding UK PLC..................... United Kingdom Euler Incorporation...................... Maryland Euler Re................................. Luxembourg Euler Services........................... France Euler SFAC Asset Management.............. France

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SUBSIDIARY JURISDICTION ---------- ------------ Euler Sfac Notation...................... France Eulertech................................ France Eurl 20/22 Le Peletier................... France EURL 2D3................................. France EURL B Anat.............................. France EURL COLLEGE CLERC....................... France EURL DDV................................. France EURL LAPEYRADE........................... France EURL LIVI DEVELOPPEMENT.................. France EURL PL.................................. France EURL RM ARROUX........................... France EURL ROCHER STE HELENE................... France Euro American Arbitrage Inc.............. Illinois Euro Drukker Beheer...................... Netherlands EURO GESTION............................. France Europe Reinsurance SA.................... Luxembourg European Properties Inc Ltd.............. United Kingdom European Venture Partners (General Partner) Ltd........................... United Kingdom European Venture Partners (Israel) Ltd. ......................... Israel European Venture Partners (Sweden) AB............................ Sweden EuroShip Assekuradeurgesellschaft mbH & Co. KG........................... Germany Eurovida S.A. Compania de Seguros y Reaseguros................... Spain Eustache................................. France EWA Life................................. Luxembourg Exchange Hire Services Ltd............... United Kingdom F.C.C. LOGIFIX........................... France FAI Allianz.............................. Australia Failure & Risk Consulting GmbH........... Germany Felix Ltd................................ United Kingdom Fenchurch Fiduciaries Ltd................ United Kingdom Fenchurch Finance Ltd.................... United Kingdom Fenchurch International Holdings Ltd.................................... United Kingdom Fenchurch Nominees (Singapore) Pte Ltd.................................... Singapore Fenchurch Nominees Ltd................... United Kingdom Fenchurch Nominees Ltd................... United Kingdom Fenchurch Properties Ltd................. United Kingdom Fenchurch Trust Ltd...................... United Kingdom Fendrake Ltd............................. United Kingdom Fenix Directo Compania de Seguros y Reaseguros S.A......................... Spain FGI Frankfurter Gesellschaft fur Industriewerte mbH................. Germany FGL Frankfurter Gesellschaft fur Luftfahrtwerte mbH................. Germany Financiere et Fonciere Europeenne........ France Finanztrust AG........................... Germany Fireman's Fund Agribusiness Inc.................................... Montana Fireman's Fund Foundation................ California Fireman's Fund Indemnity Corporation............................ New Jersey Fireman's Fund Insurance Company of Georgia............................. Georgia

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SUBSIDIARY JURISDICTION ---------- ------------ Fireman's Fund Insurance Company of Hawaii, Inc......................... Hawaii Fireman's Fund Insurance Company of Louisiana........................... Louisana Fireman's Fund Insurance Company of Missouri............................ Missouri Fireman's Fund Insurance Company of Nebraska............................ Nebraska Fireman's Fund Insurance Company of Ohio................................ Ohio Fireman's Fund Insurance Company of Texas............................... Texas Fireman's Fund Insurance Company of Wisconsin........................... Wisconsin Fireman's Fund Insurance Company................................ California First Building Management Company Ltd. .......................... Korea First Call Direct Limited................ Ireland First European Alpha Beteiligungs GmbH................................... Germany First European BETA Beteiligungs GmbH................................... Germany First European DELTA Beteiligungs GmbH................................... Germany First European GAMMA Beteiligungs GmbH................................... Germany First European OMEGA Beteiligungs GmbH................................... Germany First Rate Direct Limited................ United Kingdom Fitrust, Fiduciaire et Trustee SA........ Switzerland Foncias Iart S.A......................... Burkina Faso Foncias vie S.A.......................... Burkina Faso Fondo Film............................... Spain Fondsdepotbank GmbH...................... Germany Foreign Holdings Ltd..................... United Kingdom FRANCE SECOURS INTERNATIONAL ASSISTANCE S.A......................... France Frank Nominees Ltd....................... United Kingdom Frankfurter Versicherungs-AG............. Germany Freesun Pty Ltd.......................... Australia Funfte DRESIB Beteiligungs- Gesellschaft mbH. ..................... Germany Funfte FraMu Beteiligungs GmbH........... Germany Funfte Herakles Beteiligungs- Gesellschaft mbH & Co. KG.............. Germany Funfte Sonnenplatz Beteiligungs- Gesellschaft mbH....................... Germany Funfundzwanzigste DRESIB Beteiligungs-Gesellschaft mbH.......... Germany Funfzehnte DRESIB Beteiligungs- Gesellschaft mbH....................... Germany G.I.T. Uniphenix......................... France Gaillon Britannia........................ France Gaipare Diffusion........................ France Gallus Bau-Gesellschaft mbH.............. Germany Gamma-Vermogensverwaltungsgesellschaft mbH.................................... Germany

26

SUBSIDIARY JURISDICTION ---------- ------------ Gateway HomeCare Limited................. Illinois GAVD Gesellschaft fur Altersvorsorge- Dienstleistungen mbH................... Germany GbR Berlin Pariser Platz 5a/6............ Germany GE.SI Gestione Sistemi Informativi S.p.A.................................. Italy Generale Viagere......................... France Generation Vie........................... France GENIALLOYD S.p.A. ....................... Italy GENUJO Beteiligungs-GmbH................. Germany GENUJO Erste Beteiligungs GmbH........... Germany GENUJO Zweite Beteiligungs GmbH.......... Germany GENUJO Dritte Beteiligungs GmbH.......... Germany GENUJO Vierte Beteiligungs GmbH.......... Germany GENUJO Funfte Beteiligungs GmbH.......... Germany GENUJO Sechste Beteiligungs GmbH......... Germany GENUJO Siebte Beteiligungs GmbH.......... Germany GERUSIA Grundstucks- Verwaltungsgesellschaft mbH & Co. KG............................... Germany Gesellschaft fur Vorsorgeberatung........ Switzerland Gestiass S.r.l........................... Italy GESTION DE TELESECURITE ET DE SERVICES "GTS" S.A..................... France Gestion Institutionelle Internationale......................... France GIE Groupe Dresdner KB France............ France GIE Placements d'Assurances.............. France GIM Grundwert Immobilien Management GmbH........................ Germany GKB (General Partner) Limited............ United Kingdom Golden Gate Reinsurance Company Limited................................ Bermuda Gotz GmbH & Co. ......................... Germany Grafton Properties Limited............... Ireland Gramat Balard............................ France Grey Power Insurance Brokers (SA) Inc. ..................... Canada Groupe Mondial Assistance................ Switzerland Groupe Saint Thomas...................... France Groupe VB................................ France Growler Trading SA....................... Panama Grundstucksgesellschaft der Vereinten Versicherungen mbH & Co. Besitz- und Betriebs KG............ Germany Grundstucksgesellschaft der Vereinten Versicherungen mbH..................... Germany Grundstucks-Gesellschaft mbH............. Germany Guernsey Nominees Ltd.................... United Kingdom GV DEVELOPPEMENT......................... France GVP Grundwert Verwaltungs- und Projektentwicklungs GmbH............... Germany GVT Grundbesitz Verwaltung und Treuhand GmbH.......................... Germany H.V. Gestion............................. France Hamburger Handels- und Verwaltungs- Gesellschaft mbH....................... Germany HANSA-Bau-Gesellschaft mbH............... Germany Hardy Beteiligungs-Gesellschaft mbH...... Germany Hauteville Insurance Company Limited........................ United Kingdom

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SUBSIDIARY JURISDICTION ---------- ------------ Havelaar et Van Stolk B.V................ Netherlands HB Rt. Penztaruzemeltetesi GmbH.......... Hungary HELVIASS Verzekeringen BV................ Netherlands Herakles Beteiligungs-Gesellschaft mbH.................................... Germany HERMES & EULER CREDIT INSURANCE AGENCY (S) PTE LTD. .............................. Singapore Hermes Credit Services Ltd. ............. United Kingdom Hermes e-Business GmbH................... Germany Hermes-Kredit Service s.r.o. ............ Czech Republic Herradura Ltd............................ United Kingdom Hetha Erste Beteiligungsgesellschaft mbH.................................... Germany Hetha-Beteiligungsgesellschaft mbH.................................... Germany Hilary Nominees Ltd...................... United Kingdom Hilary Street Properties Ltd............. United Kingdom Hillbrow Investments Ltd. ............... United Kingdom Histel Beteiligungs GmbH................. Germany Holland Beleggingsgroep B.V.............. Netherlands Home Management Inc. .................... United States Honeywell Grundbesitzverwaltungs- GmbH & Co. Vermietungs-KG.............. Germany Hungaria Biztosito Rt. Szolgaltato es Ellato Kft. (Betriebs- und Versorgungs-GmbH)...................... Hungary Hungaria Biztosito Szamitastechnikai Kft. (Hungaria EDV-Betriebsgesellschaft mbH).......... Hungary Hunter Premium Funding Ltd............... Australia IDS GmbH - Analysis and Reporting Services..................... Germany IFS Individual Family Services AG........ Switzerland Ignis GmbH............................... Germany Immobiliere Vendome...................... France Immovalor Gestion........................ France Industriedruck Krefeld Kurt Jan(beta)en GmbH & Co KG i.K. ..................... Germany Inmobiliaria Driavena.................... Venezuela Intermediass S.r.l....................... Italy International Reinsurance Company S.A.................................... Luxembourg Interstate Fire & Casualty Company, Illinois...................... Illinois Interstate Indemnity Company............. Illinois Interstate National Corporation of California............................. California Interstate National Corporation of Texas, General Agency, Inc............. Texas Interstate National Corporation.......... Illinois Inveresk Stockholders Ltd................ United Kingdom Inversiones DBLA Limitada................ Chile Investimur nouvelle...................... France INVESTITORI HOLDING SPA.................. France INVESTITORI SGR.......................... France INVESTITORI SWISS........................ Switzerland

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SUBSIDIARY JURISDICTION ---------- ------------ IPC GmbH International Pension & Compensation Consultants............... Germany IPC International Pension Consultants GmbH....................... Austria ISAAF Mondial Assistance S.A............. Morocco ITB Immobilientreuhandgesellschaft MbH.................................... Austria ITEB B.V. ............................... Netherlands JBC Ltd.................................. Cayman Islands JeffCo Management Company Inc............ New Jersey Jefferson Insurance Company of N.Y.................................... New York Johneve Ltd.............................. United Kingdom Jota- Vermogensverwaltungsgesellschaft MbH.................................... Germany K.B.I.M. Overseas BV..................... Netherlands Kappa Holdings Ireland Limited........... Ireland KB (C.I.) Nominees Ltd................... United Kingdom KB Asset Leasing Ltd..................... United Kingdom KB EMF II (Guernsey) Ltd................. United Kingdom KB Equipment Leasing Ltd................. United Kingdom KB Investment Management International.......................... United Kingdom KBEMF (GP) Ltd........................... United Kingdom KBEMF II (Guernsey) Ltd.................. United Kingdom KBG Immobilier SA........................ France KBIM (IT) Nominees Ltd................... United Kingdom KBIM General Nominees Ltd................ United Kingdom KBIM International Ltd................... United Kingdom KBIM Standby Nominees Ltd................ United Kingdom KB-LPL Holdings Inc...................... New York KB-LPL Inc............................... New York KBPB Holdings Ltd. ...................... United Kingdom KEVA spol. .............................. Slovakia KGB Kraftwerksgesellschaft mbH........... Germany Kleber Lamartine......................... France Kleber Mirabeau.......................... France Kleber Passy............................. France Kleinwort Benson (Channel Islands) Investment............................. United Kingdom Kleinwort Benson (Channel Islands) Investment Management Limited.......... United Kingdom Kleinwort Benson (Channel Islands) Ltd ................................... United Kingdom Kleinwort Benson (Channel Islands) Trustees............................... United Kingdom Kleinwort Benson (Geneva) Trustee SA............................. Switzerland Kleinwort Benson (Guernsey) Fund Services Ltd........................... United Kingdom Kleinwort Benson (Guernsey) Ltd.......... United Kingdom Kleinwort Benson (Guernsey) Services Ltd........................... United Kingdom Kleinwort Benson (Guernsey) Trustees Ltd........................... United Kingdom Kleinwort Benson (Jersey) Asset Managers Ltd........................... United Kingdom Kleinwort Benson (Jersey) Fund Managers Ltd........................... United Kingdom

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SUBSIDIARY JURISDICTION ---------- ------------ Kleinwort Benson (Jersey) Services Ltd.................................... United Kingdom Kleinwort Benson (Jersey) Trustees Ltd.................................... United Kingdom Kleinwort Benson (US) Asset Managers LLC........................... Delaware Kleinwort Benson (USA) Inc. ............. New York Kleinwort Benson Australia (Holdings) Ltd......................... Australia Kleinwort Benson Belgium SA.............. Belgium Kleinwort Benson Channel Islands (Holdings)............................. United Kingdom Kleinwort Benson China Management Ltd.................................... HongKong Kleinwort Benson Cross Financing Inc.................................... New York Kleinwort Benson Cross Financing Ltd.................................... United Kingdom Kleinwort Benson Equity Partner General Partner Ltd.................... United Kingdom Kleinwort Benson Farmland Trust (Managers) Ltd......................... United Kingdom Kleinwort Benson Financial Services Ltd........................... United Kingdom Kleinwort Benson Financiere SA i. L. .... Switzerland Kleinwort Benson Gilts Ltd............... United Kingdom Kleinwort Benson International Investment Ltd......................... United Kingdom Kleinwort Benson International United Kingdom Trust Corporation...................... Kleinwort Benson International Trustees Ltd........................... United Kingdom Kleinwort Benson Investment Holdings Australia Pty Ltd............. Australia Kleinwort Benson Investment Management Americas Inc................ New York Kleinwort Benson Investment Management Americas Inc................ Delaware Kleinwort Benson Investment Management Holdings Ltd................ United Kingdom Kleinwort Benson Investment Management Ltd......................... United Kingdom Kleinwort Benson Private Bank Limited................... United Kingdom Kleinwort Benson Securities (Asia) Holdings Ltd........................... HongKong Kleinwort Benson Trustees Ltd............ United Kingdom Kleinwort Benson Unit Trusts Ltd.................................... United Kingdom Kleinwort Capital Partners General Partner 1 Ltd. ................ United Kingdom Kleinwort Capital Partners IV............ United Kingdom Knowlfa Ltd.............................. United Kingdom KOMMATA Verwaltungsgesellschaft mbH & Co. KG.......................... Germany KTC Kommunikations- und Trainings- Center Konigstein GmbH................. Germany LA FIN SIM S.P.A. ....................... Italy LA PEYRADE............................... France LA RURALE................................ France

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SUBSIDIARY JURISDICTION ---------- ------------ LA VITA.................................. Italy Langdale Nominees Ltd.................... United Kingdom Langham Nominees Ltd..................... United Kingdom Lapis Inc................................ Minnesota Larose Trintaudon Chile S.A.............. Chile Larose Trintaudon........................ France L'Assicuratrice Italiana Danni........... Italy L'Assicuratrice Italiana Vita S.p.A.................................. Italy LDS...................................... Italy Les Hautes Villes........................ France Life Agency USA of Minnesota............. Minnesota LISA..................................... United Kingdom LJ SARL.................................. France Lloyd Adriatico Real Estate.............. Italy Lloyd Adriatico S.p.A.................... Italy Lloyd Arte S.p.A......................... Italy LOGICA................................... Italy Logistikwerkstatt Assistance GmbH........ Austria Lombardkasse AG.......................... Germany London Verzekeringen NV.................. Netherlands LTCAmerica............................... Minnesota LUFRA Beteiligungsholding AG............. Switzerland Lufthansa Leasing GmbH & Co. Echo-Oscar KG.......................... Germany Lufthansa Leasing GmbH & Co. Echo-Papa KG........................... Germany M.R. Print Management Ltd................ United Kingdom Madeleine SA............................. France Manufacturers' Mutual Insurance Limited................................ Australia Marbot Pty Ltd........................... Australia Marlyna Ltd.............................. United Kingdom Martin Maurel Vie........................ France Mathis Assurances........................ France Mauritius Island, Mascareignes Services Assistance- MSA Ltd.................................... Morocco McGee Insurance Co. (Bermuda) Ltd.................................... Bermuda Medisalud Compania Colombiana de Medicina Prepagada S.A................. Colombia MEDISPAC................................. France Menza Grundstucks- Verwaltungsgesellschaft mbH & Co. KG................................. Germany Menza Grundtucks- Verwaltungsgesellschaft mbH............ Germany MERCOSUL ASSISTANCE ARGENTINE............................. Argentina MERCOSUL................................. Brazil Merkur Grundstucks-Gesellschaft mbH.................................... Germany MERLAN Mobilien- Verwaltungsgesellschaft mbH & Co. Projekt Nr. 16 KG.................. Germany META Finanz-Informationssysteme GmbH................................... Germany MetallRente Pensionsfonds AG............. Germany MetaPhysics S.A.......................... Switzerland

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SUBSIDIARY JURISDICTION ---------- ------------ Metropole................................ France Midway Insurance Company of Illinois............................... Illinois MMI Insurance (Fiji) Ltd................. New Zealand MMI Investments Mauritius................ Mauritius MMI Singapore Pte Limited................ Singapore MMI Worksafe Malaysia Sdn Bhd............ Malaysia Moerkerke................................ Belgium Mogenip SNC.............................. France Mondial Assistance Australia Holding Pty Ltd........................ Australia MONDIAL ASSISTANCE B.V. ................. Netherlands Mondial Assistance Beijing Services Co. Ltd. ..................... China Mondial Assistance Deutschland GmbH................................... Germany MONDIAL ASSISTANCE FRANCE "MAF" S.A. ..................... France Mondial Assistance Holding Deutschland AG......................... Germany Mondial Assistance Italia S.p.A. ........ Italy Mondial Assistance Japan................. Japan Mondial Assistance S.A................... France Mondial Assistance United Kingdom (MAUK) Ltd............................. United Kingdom Mondial Services Gesellschaft fur Pannenhilfe und Notruf GmbH................................... Germany Monticello Insurance Co.................. Delaware Morris (S.P.) Holdings Ltd............... United Kingdom MTS Accounting Services Ltd.............. United Kingdom Munchener und Magdeburger Agrarversicherung AG................... Germany Munsterlandische Bank Thie & Co..................................... Germany MVK Datenmanagement GmbH................. Austria National Surety Corporation.............. Illinois Nederland Administration B.V. i.L. ............................. Netherlands Nederland Hypotheekservice B.V........... Netherlands NEM Business Services Ltd................ United Kingdom NEM Insurance Ireland.................... Ireland Nemian Life & Pensions S.A............... Luxembourg Nereus Vermogensverwaltungsgesellschaft mbH.................................... Germany Neubar SA i. L. ......................... Switzerland Neunte DRESIB Beteiligungs- Gesellschaft mbH....................... Germany Neunte Herakles Beteiligungs- Gesellschaft mbH & Co. KG.............. Germany Neunte SIB Beteiligungs- Aktiengesellschaft..................... Germany Neunte SIB Beteiligungs- Aktiengesellschaft..................... Germany New comp. USA 1.......................... Cayman Islands NFJ Investment Group..................... Delaware NFJ Management Inc....................... Delaware Nicholas Applegate Capital Management LLC......................... Delaware

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SUBSIDIARY JURISDICTION ---------- ------------ Nicholas Applegate Holdings LLC.......... Delaware Nicholas Applegate Securities LLC........ Delaware Nicholas Applegate Securities International.......................... California Nicholas-Applegate....................... California NIXOR Grundstucks- Verwaltungsgesellschaft mbH & Co. KG............................... Germany Noman.................................... Great Britain Nona- Vermogensverwaltungsgesellschaft mbH.................................... Germany Norman Nominees Ltd...................... United Kingdom North American London Underwriters, Ltd...................... Bermuda Objekt Burchardplatz GmbH & Co. KG............................... Germany OCC Distributors LLC..................... Delaware OLB-Beteiligungsgesellschaft mbH......... Germany OLB-Immobiliendienst GmbH................ Germany OLB-Versicherungsdienst GmbH............. Germany Oldenburgische Landesbank AG............. Germany Omega Poprad, a.s. ...................... Slovakia Omega Thai Investment Holding............ Netherlands Omnium Opel Handler Versicherungsdienst GmbH............... Germany OpCap Advisors LLC....................... Delaware Opernringhof Bau- und Betriebs AG........ Austria Oppenheimer Capital AM................... Delaware Oppenheimer Capital LLC.................. Delaware Oppenheimer Group, Inc................... Delaware Orbis Business Services Ltd.............. United Kongdom Orbis Directors (No 1) Ltd............... United Kingdom Orbis Directors (No 2) Ltd............... United Kingdom Orbis Group Ltd.......................... United Kingdom Orbis Management Ltd..................... United Kingdom Orbis Management Ltd..................... United Kingdom Orbis Nominees Jersey Ltd................ United Kingdom Orbis Pensions Trustees Ltd.............. United Kingdom Orbis Secretaries Jersey Ltd............. United Kingom Orbis SPV Management Ltd................. United Kingdom Orbis Tax Services Ltd................... United Kingdom Orbis Trustees (1997) Ltd................ United Kingdom Orbis Trustees Guernsey Ltd.............. United Kingdom Orbis Trustees Jersey (1997) Ltd......... United Kingdom Orbis Trustees Jersey Ltd................ United Kingdom Orbis Trustees Ltd....................... United Kingdom Organizacion G.o.a. S.A. ................ Peru Orpheus Vermogensverwaltungsgesellschaft mbH.................................... Germany Ost-West Allianz Insurance Company................................ Russian Republic Other US Equity Managers................. Delaware Oxford Insurance......................... Canada P.T. Asuransi Allianz Life Indonesia p.l.c........................ Indonesia P.T. Asuransi Allianz Utama Indonesia.............................. Indonesia PAC Investment Management................ Delaware

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SUBSIDIARY JURISDICTION ---------- ------------ Pacific Investment Management Company LLC............................ Delaware Pacific MMI Insurance Ltd................ Papua New Guinea Pallas- Vermogensverwaltungsgesellschaft mbH.................................... Germany PALP Ownership Structure................. Delware Parc Continental Ltd..................... United Kingdom Parctech Mietprogramme GmbH.............. Germany Parkway Insurance Company................ New Jersey Participations Gentil.................... France Pasquier................................. France Pegasus Beteiligungsgesellschaft mbH..... Germany PEMSE S.A. .............................. Spain Pension & Compensation Consulting GmbH................................... Germany Perfectis Private Equity................. France Perseus- Vermogensverwaltungsgesellschaft mbH.................................... Germany Personalized Brokerage Service LLC....... Kansas Pet Plan Ltd............................. United Kingdom Peter Street Properties Ltd.............. United Kingdom Petra Capital II Ltd. ................... Germany Phenix Alternative Holding............... France Phenix Iart.............................. Switzerland Phenix Immobilier........................ France Phenix Kleber............................ France Phenix Vie............................... Switzerland Philippe II S.C.I. ...................... Luxembourg PIMCO Advisors Advertising Agency, Inc. .......................... Delaware PIMCO Advisors CD Distributors, LLC...................... Delaware PIMCO Advisors Distributors LLC.......... Delaware PIMCO Advisors Fund Management LLC......................... Delaware PIMCO Advisors Managed Accounts LLC........................... Delaware PIMCO Advisors Retail Holdings LLC........................... Delaware PIMCO Advisors Services.................. Delaware PIMCO Asia PTE Ltd. ..................... Singapore PIMCO Australia Pty Ltd. ................ Australia PIMCO Equity Advisors, LLC............... Delaware PIMCO Equity AM.......................... Delaware PIMCO Equity Partners, LLC............... Delaware PIMCO Europe Limited..................... United Kingdom PIMCO Global Advisors.................... Delaware PIMCO Global Advisors (Ireland) Limited................................ Ireland PIMCO Global Advisors (Resources) Limited................................ Cayman Islands PIMCO Global Advisors LLC,............... Delaware PIMCO GmbH............................... Germany PIMCO Luxembourg SA. .................... Luxembourg PIMCO Japan Ltd.......................... Japan PIMCO Private Client Services, LLC.................................... Delaware

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SUBSIDIARY JURISDICTION ---------- ------------ PIMCO Specialty Markets LLC.............. Delaware PinacleUSA LLC........................... New Jersey PL Sarl.................................. France Plantmerge Ltd........................... United Kingdom POLY -- ASSISTANCE & SERVICES A.E.................................... Greece Portal Company Ltd....................... France Poseidon Life Insurance Co. S.A.................................... Greece PRESTALYS................................ France Previndustria - Fid. Prev. Imprenditori S.p.A. ........ Italy Prevint Gestione Servizi Previdenziali S.p.A.................... Italy Privatinvest Bank AG..................... Austria Promotota Country........................ Colombia Pronto Lloyd srl......................... Italy Property Nominees (Channel Islands) Ltd........................... United Kingdom Protexia France.......................... France PTE Allianz Polska SA.................... Polska Puren - Schaumstoff GmbH................. Germany Qualis................................... France Quatrinvest.............................. France Quinta- Vermogensverwaltungsgesellschaft mbH.................................... Germany Quintet Properties Ltd................... Ireland R. B. Nominees Ltd....................... United Kingdom R.I.T. Servizi per l'Information Technology S.p.A....................... Italy Radian Inc. ............................. Cayman Islands Rambouillet Daumesnil.................... France RAS ALTERNATIVE INVESTMENTS SGR S.p.A. ............................ Italy RAS Asset Management SGR S.p.A.................................. Italy RAS Asset Management..................... Luxembourg Ras Hellas S.A. ......................... Greece RAS IMMOBILIARE SRL...................... Italy Ras International N.V.................... Netherlands RAS Tutela Giudiziaria S.p.A. ........... Italy Rasbank (Swiss) S.A...................... Switzerland Rasbank S.p.A............................ Italy Rasfin Societa di Intermediazione Mobiliare S.p.A.................................. Italy RASSERVICE s.c.p.a. ..................... Italy RB Fiduciaria SpA........................ Italy RB Vita S.p.A............................ Italy RBL Finance Ltd.......................... United Kingdom RBL Industrial Finance Ltd............... United Kingdom RC Verwaltungs- und Beteiligungsgesellschaft mbH........... Germany Real Fr Hausmann SAS..................... France Real Iena SAS............................ France Real Messine SAS......................... France Real Reaumur SAS......................... France Reaumur.................................. France Receivable Partners Inc. ................ Delaware

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SUBSIDIARY JURISDICTION ---------- ------------ Receivable Partners...................... New York Recovre Pty Ltd.......................... Australia Reliance Trading Company (Liverpool) Ltd........................ United Kingdom Rentech Finance Ltd...................... United Kingdom Rentech Hire Ltd......................... United Kingdom RES Gesellschaft fur Immobilienbesitz mbH.................................... Germany Reunion Island, Bourbon Service Assistance S.A......................... France Reuschel & Co. Beteiligungs- und Verwaltungs GmbH....................... Germany Reuschel & Co. Finanz-Service GmbH................................... Germany Reuschel & Co. Verwaltungs GmbH.......... Germany Reuschel & Co............................ Germany RHEA..................................... Luxembourg Rhone Nominees SA........................ Panama Risikomanagement und Softwareentwicklung GmbH............... Austria Risk & Safety Services Limited........... Ireland risklab germany GmbH..................... Germany Riskon Aktiengesellschaft geschlossenen Typs..................... Russian Republic Riunione Adriatica di Sicurta S.p.A.................................. Italy RM ARROUX................................ France Robert Benson Lonsdale & Co (Canada) Ltd........................... United Kingdom Robert Benson Lonsdale & Co. Ltd......... United Kingdom Roese GmbH- Versicherungsmakler.......... Germany Romanus Zug GmbH......................... Switzerland Rood Nominees Ltd........................ United Kingdom Royal Schiedam Schade.................... Netherlands RVB Verwaltungs- und Beteiligungs GmbH................................... Germany S. C. I. Dutilleul....................... France S. C. I. Garibaldi....................... France S. C. I. Part-Dieu....................... France S.C. ASIT REAL ESTATE S.R.L. ............ Romania S.C.I. de la Boucle...................... France S.I. Rue de L'Industrie 19 S.A. ......... Switzerland S.I.B.I.................................. France S.N.C. Haussmann Viager 2................ France S.N.C. SNC Dresdner Service.............. France SA Immobiliere de L'Avenue du Roule............................... France Sa Paindavoine........................... France Sabesac Investimentos S/C Ltda........... Brazil SACNAS DEVELOPPEMENT S.A................. France SACNAS INTERNATIONAL S.A................. France SACNAS RE................................ Luxembourg SAFARRIV IARD S.A........................ Ivory Coast SAFARRIV VIE S.A......................... Ivory Coast SafetyNet Services Pty Ltd............... Australia SAGE SARL................................ France Saint-Barth Assurances S.A.R.L........... France San Francisco Reinsurance Company................................ California SARL BTKM................................ France

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SUBSIDIARY JURISDICTION ---------- ------------ Sarl de l'Etoile......................... France SARL du Rocher Saint Helene.............. France Sarl FFE................................. France SARL G V DEVELOPPEMENT................... France SARL H.B. Pergola........................ France SARL L.J................................. France SARL MEDISPAC............................ France SARL MIDAGUIEM........................... France SARL MJBD................................ France SARL PASCALE............................. France SARL RM Arroux........................... France SARL RS PIAU............................. France SAS LAENNEC.............................. France SAT S.A.................................. Turkey Schmalbach-Lubeca Finanzanlagen GmbH..................... Germany Schmalbach-Lubeca PET Centre Technique et de Recherche S.A.S. ...................... France Schmalbach-Lubeca Service Center N.V. ........................... Belgium SCI Atrium W9............................ France SCI AVIP Atlantique...................... France SCI AVIP Boulogne Schumann............... France SCI AVIP Champs Elysee................... France SCI Avip des Pivolles.................... France SCI AVIP La Templerie.................... France SCI AVIP Limas du Vieux CEP.............. France SCI AVIP Marly-Saint Cyr................. France SCI AVIP Paris X......................... France SCI AVIP SCPI Selection.................. France SCI Bel.................................. France SCI Bercy W9............................. France SCI camp laurent......................... France SCI Cardidaloc........................... France SCI Carmidaloc........................... France SCI Chaponnay............................ France SCI Chene Alpes.......................... France SCI CRAM................................. France SCI des 108 et 110 Boulevard Haussmann... France SCI des Mercieres........................ France SCI Dicca................................ France SCI Du Manoir Queval..................... France SCI en Presles........................... France SCI F.D.B.L.............................. France SCI Fonciere du mas de Roman............. France SCI IDF.................................. France SCI Immobiliere des Pennes Mirabeau........................ France SCI J.T. ................................ France SCI Jamin................................ France SCI Jelavie.............................. France SCI La Balandrane........................ France SCI La Riche 540......................... France SCI La Rize.............................. France SCI Lajevie.............................. France SCI Limmo 2.............................. France SCI Limmo................................ France SCI Marcleau............................. France

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SUBSIDIARY JURISDICTION ---------- ------------ SCI mediterranee distribution............ France SCI PRELLOYD............................. France SCI RELAIS S.SAUVEUR..................... France SCI Rhone Alpe........................... France SCI Rue Babeuf........................... France SCI Stratus.............................. France SCI Trescol.............................. France SCI Turenne.............................. France SCI Vilaje............................... France Sealdrift Ltd............................ Great Britain Sechste FraMu Beteiligungs- gesellschaft mbH....................... Germany Sechste Herakles Beteiligungs- gesellschaft mbH & Co. KG.............. Germany Sechste Sonnenplatz Beteiligungs- Gesellschaft mbH....................... Germany Sechzehnte DRESIB Beteiligungs- Gesellschaft mbH....................... Germany Secunda- Vermogensverwaltungsgesellschaft mbH... Germany Security Ltd. ........................... Greece Serexim.................................. France Setri.................................... France Sexta- Vermogensverwaltungsgesellschaft mbH... Germany SFAC Credit.............................. France SHA Seminarhotel AG...................... Switzerland Shertoon Pty Ltd......................... Australia SIAC Services spa........................ Italy Siebte FraMu Beteiligungs- gesellschaft mbH....................... Germany Siebte Herakles Beteiligungs- Gesellschaft mbH & Co. KG.............. Germany Siebte SIB Beteiligungs- Aktiengesellschaft..................... Germany Siebzehnte DRESIB Beteiligungs- Gesellschaft mbH....................... Germany Signature Financial Services LLC......... Washington Silver Lux Inc........................... Cayman Islands Silver Tower 125 Inc..................... Cayman Islands Sipari Volney............................ France SIPARI................................... France Sirius Management Australia Pty Ltd...... Australia SNA Holding (Bermuda) Ltd................ Bermuda SNA Re Societe Nationale D'Assurances et de Reassurances (Bermuda) Ltd.......... Bermuda SNA Sal.................................. Lebanon SNAM S.A.L. ............................. Lebanon SNC AGF Cash............................. France SNC AGF Clearing......................... France SNC AIP.................................. France SNC Allianz Bercy........................ France SNC Kleber Magdebourg.................... France SNC Maxium............................... France

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SUBSIDIARY JURISDICTION ---------- ------------ SOCIEDAD MUNDIAL DE ASISTENCIA (S.M.A.S.A.) S.A....................... Spain SOCIETE BELGE D'ASSISTANCE INTERNATIONAL S.A. "S.B.A.I.".......... Belgium SOCIETE BELGE DE SERVICES TELEPHONIQUES "S.B.S.T." S.A........... Belgium Societe Civile Construction Vente 33 Lafayette, Paris.............. France SOCIETE EUROPEENNE DE PROTEC. ET DE SEVICES D'ASSIST. A DOMICILE "S.E.P.S.A.D." S.A..................... France Societe Financiere du Leman.............. Switzerland Societe Fonciere Europeenne.............. France Societe Nationale D'Assurances S.A.L. ................... Lebanon Societe Nouvelle D'Assurances du Cameroun S.A. ......................... Cameroon Societe Nouvelle D'Assurances du Senegal Iard S.A. ............................. Senegal Societe Nouvelle D'Assurances du Senegal Vie S.A. .............................. Senegal Societe Nouvelle D'Assurances vie du Cameroun S.A........................... Cameroon Sofiholding S.A.......................... Belgium Sofiras Underwriters S.A. ............... Luxembourg Sogafi................................... France SOLVET S.r.l. ........................... Italy Somerset Valley Insurance Services, LLC.. New Jersey Sonimm................................... France Sorega................................... France Southwark Bridge Investments Ltd......... United Kingdom Space Park Aufbau GmbH................... Germany Space Park Erste Verwaltungs GmbH........ Germany Space Park GmbH & Co. KG................. Germany SPACECO.................................. France SSC Societe de Services Communs.......... France Standard General Agency, Inc............. Texas Stanislas H. Haine....................... Belgium StocksPLUS Management Inc................ Delaware StocksPLUS Sub-Fund B LLC................ California StocksPLUS, L.P.......................... Delaware Strategic Reinsurance Ltd................ Bermuda Structured Security Company, Inc. ....... Delaware Subarban Finance Company Limited......... Cayman Islands Subarban Finance Company II Limited...... Cayman Islands Subarbon Finance Co. .................... United Kingdom

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SUBSIDIARY JURISDICTION ---------- ------------ Sudamero Consultoria SA.................. Costa Rica Sudamero Trust Company (Cayman) Ltd........................... Cayman Islands Suddeutsche Industrie- Beteiligungs-Gesellschaft mbH.......... Germany Suffolk Investments Inc................. New York Syscom Instruments S.A.................. Switzerland T.U. Allianz Polska S.A................. Poland T.U. Allianz Polska Zycie S.A........... Poland Takecare Management Ltd. ............... Great Britain Target Insurance Brokers Pte Ltd. (TIB) ....................... Singapore Tech-Line Insurance Services Ltd................................... Canada TFI ALLIANZ POLSKA S.A. ................ Poland The Ajax Insurance Association Ltd................................... United Kingdom The American Insurance Company.......... Nebraska The Kleinwort Benson Mezzanine Fund L.P.............................. New York The M.I. Group Ltd...................... United Kingdom The M.I. Property Management Company Ltd........................... United Kingdom Thornton Brokerage Ltd.................. HongKong Thornton Management (C.I.) Ltd.......... United Kingdom Thornton Nominees Ltd................... United Kingdom Thurlastone Finance Limited............................... United Kingdom TopReport Schaden- besichtigungs GmbH.................... Austria Tour Cristal............................ France Towarzystwo Ubezpieczeniowe Euler Hermes S.A. .................... Poland TRADE INDEMNITY Collections Ltd................................... United Kingdom Trafalgar Insurance Company of Canada................................ Canada Trafalgar Insurance PLC................. United Kingdom Traktir................................. France Travel Care Inc......................... Florida Treewalk Group Ltd...................... United Kingdom Treewalk Health Care Ltd................................... United Kingdom Turnpike Crossing 1, LLC................ Delaware UCAR SA................................. Central Africa UNIPENSAO -- Soc. Gestora de Fondos de Pensiones................... Portugal Universal Leven N.V..................... Netherlands Unterstutzungseinrichtung des Bankhauses Reuschel & Co. GmbH........ Germany USAllianz Advisers, LLC................. Minnesota USAllianz Insurance & Securities Agency, Inc........................... Minnesota USAllianz Insurance & Securities Agency, Inc........................... Alabama USAllianz Insurance & Securities Agency, Inc........................... Colorado USAllianz Insurance & Securities Agency, Inc........................... Hawaii USAllianz Insurance & Securities Agency, Inc........................... Kentucky

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SUBSIDIARY JURISDICTION ---------- ------------ USAllianz Insurance & Securities Agency, Inc........................... Nevada USAllianz Insurance & Securities Agency, Inc........................... New Mexico USAllianz Insurance & Securities Agency, Inc........................... Ohio USAllianz Insurance & Securities Agency, Inc........................... Texas USAllianz Insurance & Securities Agency, Inc........................... Vermont USAllianz Insurance Agency, Inc................................... Minnesota USAllianz Insurance Agency, Inc. ....... Delaware USAllianz Investor Services, LLC................................... Minnesota USAllianz Securities.................... Minnesota Valley Green Business Park Inc. ........ Minnesota Valley Green Business Park Ltd. ........ Minnesota Variable Film........................... Spain Vauban Mobilisations Garanties.......... France Veer Palthe Voute (Antilles) NV......... Netherlands Veer Palthe Voute (Suisse) SA........... Switzerland Veer Palthe Voute N.V. ................. Netherlands Vencap.................................. France Vendome Capital......................... France Vendome Investissements................. France Vendome Lease SA........................ France Vereinte Spezial Krankenversicherung AG................ Germany Vereinte Spezial Versicherung AG........ Germany Verlag Arbeit und Alter GmbH............ Germany Vernon.................................. France Vestrust Envestments Venezuela S.R.L. ..................... Venezuela Vestrust Peru S.R. ..................... Peru VIA PIERRE 1............................. France Vierte Herakles Beteiligungs- Gesellschaft mbH & Co. KG.............. Germany Vierundzwanzigste DRESIB Beteiligungs-Gesellschaft mbH.......... Germany Vignon................................... France Villa La Pagliaia S.r.l. ................ Italy Vina de Larose........................... Chile Vintage Insurance Company................ California visionapp GmbH........................... Germany W Finance Assurances..................... France W Finance................................ France W9 Atrium SARL........................... France W9 Bercy SARL............................ France Wall Street Technology Managers............................... New York Warner Insurance Company................. Illinois Wasserstein Perella & Co. Deutschland GmbH....................... Germany Wasserstein Perella & Co. Holdings, Inc.......................... Delaware Wasserstein Perella & Co. Inc. (Delaware)............................. Delaware Wasserstein Perella & Co. Japan Ltd.................................... Japan

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SUBSIDIARY JURISDICTION ---------- ------------ Wasserstein Perella & Co. Pacific, Ltd.................................... Delaware Wasserstein Perella & Co., Limited....... United Kingdom Wasserstein Perella (France) SA.......... France Wasserstein Perella Group Holdings, LLC.......................... Delaware WDDC Inc................................. Delaware WebTek Software Private Limited.......... India Weser Ems International Bond Funds A................................ Germany Weser Ems International Bond Funds B................................ Germany Wessex Holdings Inc...................... New York Westbourne Properties Ltd................ United Kingdom Wilhelm Reuschel GmbH.................... Germany Willemsbruggen........................... Netherlands Wm. H McGee & Co. (Bermuda) Ltd.................................... Bermuda Wm. H McGee & Co. of Puerto Rico Inc.................................... Puerto Rico Wm. H McGee & Co., Inc................... New York Wm. H McGee Services, Inc................ New York Wm. H. McGee & Co. of Canada, Ltd.................................... Canada World Access ASIA (PTE) Ltd.............. Singapore World Access Canada Inc.................. Canada World Access Europe LTD.................. United Kingdom World Access Healthcare Services Inc.................................... Florida World Access Insurance Broker Ltd.................................... Canada World Access Service Corp................ Virginia World Access, Inc........................ Virginia WP Bridge Finance, Inc................... Delaware WP Plan Management Partners, Inc.................................... Delaware WP Services Inc.......................... Delaware Yarra Finance Limited.................... United Kingdom YD CHOLLET FINANCE....................... France ZA Verzekeringen N.V..................... Belgium Zehnte FraMu Beteiligungs GmbH...................... Germany Zehnte Herakles Beteiligungs- Gesellschaft mbH & Co. KG.............. Germany Zehnte SIB Beteiligungs- Aktiengesellschaft..................... Germany Zehnte Sonnenplatz Beteiligungs- Gesellschaft mbH....................... Germany Zenon Beteiligungs-GmbH.................. Germany Zweite FraMu Beteiligungs GmbH................................... Germany Zweite Sonnenplatz Beteiligungs- Gesellschaft mbH....................... Germany Zwolfte DRESIB Beteiligungs- Gesellschaft mbH....................... Germany Zwolfte FraMu Beteiligungs GmbH...................... Germany Zwolfte SIB Beteiligungs- Aktiengesellschaft..................... Germany

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SUBSIDIARY JURISDICTION ---------- ------------ Zwolsche Allgemeene Europa B.V. ........................... Netherlands Zwolsche Allgemeene Herverzekering......................... Netherlands Zwolsche Algemeene Schadeverzekering N.V.................. Netherlands

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