Exhibit 21.1



List of Subsidiaries and Foreign Affiliates

Subsidiaries as of February, 2003



|Name of Subsidiary (1)                                                 |  | Incorporation            
|---------------------------------------------------------------------- |  | -------------------------
|National Auto Center, Inc.                                             |  | Delaware                 
|CellStar Financo, Inc.                                                 |  | Delaware                 
|CellStar Air Services, Inc.                                            |  | Delaware                 
|A&S Air Service, Inc.                                                  |  | Delaware                 
|CellStar Telecom, Inc.                                                 |  | Delaware                 
|CellStar Fulfillment, Inc.                                             |  | Delaware                 
|CellStar International Corporation/Asia                                |  | Delaware                 
|CellStar International Corporation/SA                                  |  | Delaware                 
|NAC Holdings, Inc.                                                     |  | Nevada                   
|Florida Properties, Inc.                                               |  | Texas                    
|Audiomex Export Corp.                                                  |  | Texas                    
|CellStar, Ltd.                                                         |  | Texas Limited Partnership
|CellStar Fulfillment, Ltd.                                             |  | Texas Limited Partnership
|CellStar Global Satellite Services, Ltd.                               |  | Texas Limited Partnership
|CellStar Foreign Sales Corporation                                     |  | Barbados                 
|Sizemore International B.V.                                            |  | Netherlands Antilles     
|CellStar Chile, S.A.                                                   |  | Chile                    
|CellStar de Colombia, Ltda.                                            |  | Colombia                 
|CellStar Telecommunications Service (Asia) Limited (2)                 |  | Hong Kong                
|CellStar (Asia) Corporation Limited                                    |  | Hong Kong                
|CellStar Ireland                                                       |  | United Kingdom           
|Celular Express S.A. de C.V.                                           |  | Mexico                   
|CellStar Mexico S.A. de C.V.                                           |  | Mexico                   
|Celular Express Management S.A. de C.V.                                |  | Mexico                   
|Shanghai CellStar International Trading Co. Ltd.                       |  | Peoples Republic of China
|Shanghai Fengzing CellStar Trading Telecommunications Trading Co. Ltd. |  | Peoples Republic of China
|Shenzhen CellStar Honbo Telecommunication Co. Ltd. (4)                 |  | Peoples Republic of China
|CellStar Philippines, Inc.                                             |  | Philippines              
|CellStar Pacific Pte. Ltd.                                             |  | Singapore                
|Cellular Express(S) Pte. Ltd.                                          |  | Singapore                
|CellStar Holding AB                                                    |  | Sweden                   
|CellStar-Intercall AB                                                  |  | Sweden                   
|CellStar TelecommunicationsTaiwan Co. Ltd.                             |  | Taiwan                   
|CellStar (UK) Limited                                                  |  | United Kingdom           
|CellStar Netherlands Holdings, B.V.                                    |  | The Netherlands          
|CellStar Netherlands, B.V.                                             |  | The Netherlands          
|CellStar Japan, Limited                                                |  | Japan                    
|CellStar Telecom Ltd. (5)                                              |  | Korea                    
|CellStar Asia Pacific Corporation                                      |  | Cayman Islands           
|CellStar Asia.com Inc.                                                 |  | British Virgin Islands   
|Systar Corporation Ltd. (6)                                            |  | Taiwan                   
|chinadotcom CellStar Ltd. (6)                                          |  | British Virgin Islands   

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|(1) |  | 100% owned by CellStar Corporation, unless otherwise stated.
|--- |  | ------------------------------------------------------------

|(2) |  | 60% owned.
|--- |  | ----------

|(3) |  | 30% directly owned and 19% beneficially owned.
|--- |  | ----------------------------------------------

|(4) |  | 51% owned.
|--- |  | ----------

|(5) |  | 80% owned.
|--- |  | ----------

|(6) |  | 40% owned.
|--- |  | ----------