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                                                                      EXHIBIT 21

                                  SUBSIDIARIES

Boca Telecommunications Investors, Inc., a Florida corporation
Coloconnection, a Florida corporation
NAP of the Americas, Inc., a Florida corporation
Park West Telecommunications Investors, Inc., a Florida corporation (1)
TECOTA Services Corp., a Delaware corporation (2)(3)
Terremark Trademark Holdings, Inc., a Nevada corporation
TerreNAP Data Centers, Inc., a Florida corporation (4)
TerreNAP Services, Inc., a Florida corporation (5)

(1)   Park West Telecommunications Investors, Inc. is a significant shareholder
      or owns a significant interest in:
            Technology Center of the Americas, Inc., a Florida corporation (7)
            Technology Center of the Americas, Ltd., a Florida limited
              partnership

(2)   TECOTA Services Corp. is the sole shareholder of:
            T-Rex Miami, LLC, a Delaware limited liability company

(3)   TECOTA Services Corp. is a minority shareholder of:
            Technology Center of the Americas, LLC, a Delaware limited
              liability corporation

(4)   TerreNAP Data Centers, Inc., is the sole shareholder of:
            Spectrum Telecommunications Corp., a Delaware corporation (6)
            Terremark Asia Company, Ltd., a Bermuda corporation (8)
            Terremark Latin America, Inc., a Florida corporation (10)(11)

(5)   Terremark NAP Services, Inc. is the sole shareholder of:
            Terremark Centre GP, Inc., a Florida corporation
            Terremark Centre Partner, Inc., a Florida corporation
            Terremark Development, Inc., a Florida corporation (9)
            Terremark Financial Services, Inc., a Florida corporation
            Terremark Fortune House #1, Inc., a Florida corporation
            Terremark Fortune House #2, Inc., a Florida corporation
            Terremark Galloway, Inc., a Florida corporation
            Terremark Management Services, Inc., a Florida corporation
            Terremark Northeast, Inc., a New York corporation
            Terremark Realty, Inc., a Florida corporation
            Terremark Technology Contractors, Inc., a Florida corporation

(6)   Spectrum Telecommunications Corp. is the sole shareholder of:
            Terremark Americas Group, a Delaware corporation

(7)   Technology Center of the Americas, Inc. owns a minority interest in:
            Technology Center of the Americas, Ltd., a Florida limited
              partnership

(8)   Terremark Asia Company, Ltd., a Bermuda corporation, is the sole
      shareholder of:
            Asia Connect, Ltd., a Bermuda corporation
            TerreNAP Data Centers (China), Ltd., a Bermuda corporation

(9)   Terremark Development, Inc. is the sole shareholder of:
            Terremark Miami Avenue, Inc., a Florida corporation


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(10)  Terremark Latin America, Inc. is a majority shareholder of:
            Terremark Latin America de Argentina, SA, an Argentine corporation
            Terremark Latin America (Brasil) Ltda, a Brazil corporation
            Terremark Latin America de Mexico, SA de CV, a Mexican corporation

(11)  Terremark Latin America, Inc. is a minority shareholder of:
            Terremark do Brasil Ltda, a Brazil corporation (12)

(12)  Terremark Latin America (Brasil) Ltda, a Brazil corporation, is a majority
      shareholder of:
            Terremark do Brasil Ltda, a Brazil corporation

*     Terremark Worldwide, Inc. owns a minority shareholder interest in:
            Terremark Latin America de Argentina, SA, an Argentine corporation
            Terremark Latin America (Brasil) Ltda, a Brazil corporation
            Terremark Latin America de Mexico, SA de CV, a Mexican corporation



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