**Exhibit21**

 

**WATSONWYATT WORLDWIDE, INC.**

 

**SUBSIDIARIES**

 

**(12-31-08)**

 
| **SUBSIDIARY  NAME**                                      | ** ** | **JURISDICTION OF  INCORPORATION/  ORGANIZATION** | ** ** | **Name(s) under  which such  subsidiary  does business  (if  different)(a)** |
|-----------------------------------------------------------|------------|---------------------------------------------------|------------|-----------------------------------------------------------------------------------|
| ** **                                                | ** ** | ** **                                        | ** ** | ** **                                                                        |
| Watson Wyatt Argentina  S.A.                              |       | Argentina                                         |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Marcu &  Asociados S.A.                          |       | Argentina                                         |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Australia  Pty Ltd                           |       | Australia                                         |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Wycomp Pty Ltd                                            |       | Australia                                         |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt  Superannuation Pty Ltd                      |       | Australia                                         |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt (Austria)  GmbH                              |       | Austria                                           |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Insurance  and Financial Services SA         |       | Belgium                                           |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt NV                                           |       | Belgium                                           |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Brasil  Ltda                                 |       | Brazil                                            |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Canada ULC                                   |       | Canada                                            |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Chile S.A.                                   |       | Chile                                             |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Corredores de Seguros  Watson Wyatt Limitada              |       | Chile                                             |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt  Consultancy (Shanghai) Ltd                  |       | China                                             |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt  Consultancy (Shenzhen) Ltd                  |       | China                                             |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt  Consultores Colombia S.A.                   |       | Colombia                                          |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt &  Company                          |       | Delaware                                          |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Wyatt Data  Services, Inc.                           |       | Delaware                                          |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Investment  Consulting, Inc.            |       | Delaware                                          |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Insurance  Consulting, Inc.             |       | Delaware                                          |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Insurance  and Financial Services, Inc. |       | Delaware                                          |       |                                                                              |
|                                                      |       |                                              |       |                                                                              |
| Watson Wyatt Canadian  Holdings, Inc.                |       | Delaware                                          |       |                                                                              |

 

----

 
| Watson Wyatt European  Investment Holdings, Inc.   |   | Delaware  |   |   |
|---------------------------------------------------------|--------|-----------|--------|--------|
|                                                    |   |      |   |   |
| Watson Wyatt European  Investment Holdings 1, LLC       |   | Delaware  |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt European  Investment Holdings 2, LLC       |   | Delaware  |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt SARL                                       |   | France    |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Heissmann  (Düsseldorf) GmbH          |   | Germany   |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Heissmann  (München-Frankfurt) GmbH   |   | Germany   |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Insurance  Consulting GmbH                 |   | Germany   |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Heissmann  GmbH                            |   | Germany   |   |   |
|                                                    |   |      |   |   |
| Buck Heissmann Holding  GmbH                            |   | Germany   |   |   |
|                                                    |   |      |   |   |
| Buck Heissmann GmbH                                     |   | Germany   |   |   |
|                                                    |   |      |   |   |
| IPC Heissmann  Versicherungsservice GmbH                |   | Germany   |   |   |
|                                                    |   |      |   |   |
| Verlag Arbeit Und Alter  GmbH                           |   | Germany   |   |   |
|                                                    |   |      |   |   |
| Heissmann Consultants  GmbH                             |   | Germany   |   |   |
|                                                    |   |      |   |   |
| PM&S  Pensions-managment und Sicherungs-Treuhand AG |   | Germany   |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Insurance  Consulting Ltd                  |   | Hong Kong |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Hong Kong  Limited                         |   | Hong Kong |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Investment  Consulting Hong Kong Limited   |   | Hong Kong |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Kft                                        |   | Hungary   |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Insurance  Consulting Private Ltd          |   | India     |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt India  Private Limited                     |   | India     |   |   |
|                                                    |   |      |   |   |
| PT Watson Wyatt  Purbajaga                              |   | Indonesia |   |   |
|                                                    |   |      |   |   |
| PT Watson Wyatt  Indonesia                              |   | Indonesia |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt (Ireland)  Limited                         |   | Ireland   |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Consulting  Limited                        |   | Ireland   |   |   |
|                                                    |   |      |   |   |
| BCI Trustees Limited                                    |   | Ireland   |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Italia Srl                                 |   | Italy     |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Insurance  Consulting KK                   |   | Japan     |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt KK                                         |   | Japan     |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt (Malaysia)  Sdn Bhd                        |   | Malaysia  |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Holdings  (Mauritius) Limited              |   | Mauritius |   |   |
|                                                    |   |      |   |   |
| Watson Wyatt Mexico,  S.A. de C.V.                      |   | Mexico    |   |   |

 

----

 
| Watson Wyatt European  Region BV                                                  |   | Netherlands          |   |   |
|-----------------------------------------------------------------------------------|--------|----------------------|--------|--------|
|                                                                              |   |                 |   |   |
| Watson Wyatt Insurance  Consulting BV                                             |   | Netherlands          |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt BV                                                                   |   | Netherlands          |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt  International, Inc.                                            |   | Nevada               |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt  Philippines, Inc.                                              |   | Philippines          |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt (Portugal) Unipessoal Limitada                                       |   | Portugal             |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Puerto  Rico, Inc.                                              |   | Puerto Rico          |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt, Limited Liability  Company                                          |   | Russia               |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Insurance  Consulting Pte Ltd                                        |   | Singapore            |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Singapore  Pte Ltd                                                   |   | Singapore            |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Insurance  Consulting (Spain) SA                                     |   | Spain                |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt de Espana  SA                                                        |   | Spain                |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt AB                                                                   |   | Sweden               |   |   |
|                                                                              |   |                 |   |   |
| Verbier WW Stockholm AB                                                           |   | Sweden               |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt AG                                                                   |   | Switzerland          |   |   |
|                                                                              |   |                 |   |   |
| Buck Heissmann Sarl                                                               |   | Switzerland          |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt (Thailand)  Limited                                                  |   | Thailand             |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Dubai LLC                                                            |   | United Arab Emirates |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Limited                                                              |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Holdings  Limited                                                    |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Trustees  Limited                                                    |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| The Wyatt Company  Holdings Limited                                               |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Services  Limited                                                    |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Pretium  Limited                                                     |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt Holdings  (Europe) Limited                                           |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt  International Limited                                               |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson  Wyatt Insurance & Financial Services Consulting Holdings Limited |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt European  Region Limited                                             |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt European  Investment Holdings Limited                                |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watsons Pensioneer  Trustees Limited                                              |   | United Kingdom       |   |   |
|                                                                              |   |                 |   |   |
| Watson Wyatt (UK)  Acquisitions 1 Limited                                         |   | United Kingdom       |   |   |

 

----

 
| PCL Limited                                           |   | United Kingdom |   |   |
|-------------------------------------------------------|--------|----------------|--------|--------|
|                                                  |   |           |   |   |
| PCL 1991 Limited                                      |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| Wyatt Trustee Limited                                 |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| The Wyatt Company (UK)  Limited                       |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| Wyatt Pension Plan  Trustee Limited                   |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| Wyatt Financial  Services Limited                     |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| Watsons International  Limited                        |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| RWS Trustee Limited                                   |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| Watson Wyatt Healthcare  Trustees Limited             |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| Watson Wyatt (UK)  Acquisitions 2 Limited             |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| Watson Wyatt European  Investment Limited Partnership |   | United Kingdom |   |   |
|                                                  |   |           |   |   |
| Watson Wyatt Uruguay  S.A.                            |   | Uruguay        |   |   |

 

----

(a)All of thesesubsidiaries do business under their own name or under the name Watson WyattWorldwide.

 

----