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                                                                    EXHIBIT 21.2


                  LIST OF SUBSIDIARIES OF CELLSTAR CORPORATION
                  --------------------------------------------
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NAME OF SUBSIDIARY                       INCORPORATION                    TRADENAMES USED
------------------                       -------------                    ---------------                   
<S>                                      <C>                              <C>
 
National Auto Center, Inc.                  Texas                      National Auto Cellular
 
                                                                            PC Cellular
                                                                              TelStar
                                                                        Communication Center
                                                                              CellStar
                                                                        Cellular Accessories
                                                                               CMart
 
CellStar Air Services, Inc.               Delaware                              None
 
NAC Holdings, Inc.                         Nevada                               None
 
CellStar Fulfillment, Inc.                Delaware                              None
 
CellStar International
 Corporation/Asia                         Delaware                              None
 
CellStar International
 Corporation/S.A.                         Delaware                              None
 
Audiomex Export Corporation               Delaware                              None
 
CellStar Ltd.                     Texas Limited Partnership            National Auto Cellular
                                                                            PC Cellular
                                                                        Communication Center
                                                                              CellStar
                                                                             interACT/CS
                                                              Pacific Bell Mobile Services Fulfullment
 
CellStar Fulfillment, Ltd.        Texas Limited Partnership                     None
 
A & S Air Service, Inc.                   Delaware                              None
 
CellStar West, Inc.                       Delaware                              None

CellStar (Asia) Corporation LTD           Hong Kong                             None
 
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                                        JURISDICTION OF
NAME OF SUBSIDIARY                       INCORPORATION                    TRADENAMES USED 
------------------                       -------------                    --------------- 
<S>                                      <C>                              <C> 
CellStar Pacific PTE LTD                   Singapore                            None
 
CellStar Singapore PTE LTD                 Singapore                            None
 
CellStar S.A.                              Argentina                          Servicell
 
CellStar International
 Telefonia Celular, Ltda.                   Brazil                        Cellular Express
 
CellStar Celular Chile S.A.                 Chile                             Servicell
 
CellStar Celular S.A.                     Venezuela                             None
 
CellStar Industria da
 Telefonia da Amazonia LTD                  Brazil                              None
 
CellStar de Colombia, Ltda.                Colombia                       Cellular Express
                                                                              Servicell
 
CellStar Ecuador S.A.                      Ecuador                              None
 
CellStar (UK) Limited                  United Kingdom                           None
 
Celular Express S.A. de C.V.               Mexico                               None
 
Celular Express
 Management S.A. de C.V.                   Mexico                               None
 
CellStar Philippines, Inc.              Philippines                             None
 
CellStar Amtel Sdn Bhd.                   Malaysia                              None
 
CellStar (Taiwan) Co., Ltd.                Taiwan                               None
 
CellStar Telecommunication
 Service Company                         Hong Kong                              None
 
Shanghai CellStar International
 Trading Company, LTD                      China                                None
 
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