Exhibit 21.1



CellStar Corporation

List of Subsidiaries and Affiliates

For Fiscal Year End 2004

[100% Owned Unless Otherwise Indicated]



|                                                 |  |                          
|------------------------------------------------ |  | -------------------------
|Name of Subsidiary                               |  | Incorporation            
|National Auto Center, Inc.                       |  | Delaware                 
|CellStar Financo, Inc.                           |  | Delaware                 
|CellStar Air Services, Inc. (4)                  |  | Delaware                 
|A&S Air Service, Inc. (4)                        |  | Delaware                 
|CellStar Telecom, Inc. (4)                       |  | Delaware                 
|CellStar Fulfillment, Inc.                       |  | Delaware                 
|CellStar International Corporation/Asia          |  | Delaware                 
|CellStar International Corporation/SA            |  | Delaware                 
|NAC Holdings, Inc.                               |  | Nevada                   
|Florida Properties, Inc. (4)                     |  | Texas                    
|Audiomex Export Corp.                            |  | Texas                    
|CellStar, Ltd. (1)                               |  | Texas Limited Partnership
|CellStar Fulfillment, Ltd. (2)                   |  | Texas Limited Partnership
|CellStar Global Satellite Services, Ltd. (1)     |  | Texas Limited Partnership
|CellStar Chile, S.A.                             |  | Chile                    
|CellStar de Colombia Ltda. (3)                   |  | Colombia                 
|CellStar (Asia) Corporation Limited              |  | Hong Kong                
|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                   
|Sizemore International N.V. (4)                  |  | Netherlands Antilles     
|Shanghai CellStar International Trading Co. Ltd. |  | Peoples Republic of China
|CellStar Philippines, Inc. (4)                   |  | Philippines              
|CellStar Holding AB                              |  | Sweden                   
|CellStar Japan, Limited (4)                      |  | Japan                    
|CellStar Telecommunications Taiwan Co. Ltd.      |  | Taiwan                   
|CellStar (UK) Limited (4)                        |  | United Kingdom           
|CellStar Netherlands Holdings, B.V.              |  | The Netherlands          
|CellStar Asia Pacific Corporation                |  | Cayman Islands           
|CellStar Asia.com Inc.                           |  | British Virgin Islands   



|/1/ | National Auto Center, Inc. is 1% General Partner and NAC Holdings, Inc. is 99% limited partner.
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|/2/ | CellStar Fulfillment, Inc. is 1% General Partner and NAC Holdings, Inc. is 99% limited partner.
|--- | -----------------------------------------------------------------------------------------------



|/3/ | 19% owned by CellStar International Corporation/SA. Remaining 81% owned by Mobile Technologies Services, S.A., a Panama corporation, which is not owned or controlled by any CellStar
entity. This 81% is pledged to secure promissory notes owed to CellStar entities.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|/4/ | Corporate entity inactive and/or dormant.
|--- | -----------------------------------------