WATSON WYATT & COMPANY HOLDINGS

SUBSIDIARIES

01/29/2002

|SUBSIDIARY NAME                                  | JURISDICTION OF INCORPORATION/
ORGANIZATION | Name(s) under which such subsidiary does business (if different)*
|------------------------------------------------ | ------------------------------------------- | -----------------------------------------------------------------
|                                                 |                                             |                                                                  
|Watson Wyatt Argentina S.A.                      | Argentina                                   |                                                                  
|Watson Wyatt Australia Pty Ltd                   | Australia                                   |                                                                  
|Wycomp Pty Ltd                                   | Australia                                   |                                                                  
|Watson Wyatt Superannuation Pty Ltd              | Australia                                   |                                                                  
|Watson Wyatt S.A.                                | Belgium                                     |                                                                  
|Watson Wyatt Brasil Ltda.                        | Brazil                                      |                                                                  
|Watson Wyatt Company Limited                     | Canada                                      |                                                                  
|Watson Wyatt Consultancy (Shanghai) Ltd.         | China                                       |                                                                  
|Watson Wyatt Colombia S.A.                       | Colombia                                    |                                                                  
|Watson Wyatt S.A.R.L.                            | France                                      |                                                                  
|Watson Wyatt GmbH                                | Germany                                     |                                                                  
|Wyatt Bode Grabner GmbH                          | Germany                                     |                                                                  
|Watson Wyatt International Pension Trustees Ltd. | Guernsey, Channel Islands                  
|Watson Wyatt Hong Kong Limited                   | Hong Kong                                   |                                                                  
|Watson Wyatt Systems Ltd.                        | Hong Kong                                   |                                                                  
|Watson Wyatt India Private Limited               | India                                       |                                                                  
|P.T. Watson Wyatt Purbajaga                      | Indonesia                                   |                                                                  
|Watson Wyatt ISSO s.r.l.                         | Italy                                       |                                                                  
|Watson Wyatt K.K.                                | Japan                                       |                                                                  
|Watson Wyatt (Malaysia) Sdn. Bhd.                | Malaysia                                    |                                                                  
|Watson Wyatt Holdings (Mauritius) Limited        | Mauritius                                   |                                                                  
|Wyatt Internacional, S.A. de C.V.                | Mexico                                      |                                                                  
|Watson Wyatt Mexico, S.A. de C.V.                | Mexico                                      |                                                                  
|Watson Wyatt B.V.                                | Netherlands                                 |                                                                  
|Watson Wyatt European Region B.V.                | Netherlands                                 |                                                                  
|Watson Wyatt New Zealand Limited                 | New Zealand                                 |                                                                  
|Retirement Planning Seminars (NZ) Limited        | New Zealand                                 |                                                                  
|Retirement Trustees NZ Limited                   | New Zealand                                 |                                                                  
|Watson Wyatt Philippines, Inc.                   | Philippines                                 |                                                                  
|Watson Wyatt Puerto Rico, Inc.                   | Puerto Rico                                 |                                                                  
|Watson Wyatt Singapore Pte. Ltd.                 | Singapore                                   |                                                                  
|Watson Wyatt de España, S.A.                     | Spain                                       |                                                                  
|Watson Wyatt A.B.                                | Sweden                                      |                                                                  
|Watson Wyatt AG                                  | Switzerland                                 |                                                                  
|Watson Wyatt (Thailand) Ltd.                     | Thailand                                    |                                                                  
|Wyatt Trustee Limited                            | U.K.                                        |                                                                  
|PCL (1991) Limited                               | U.K.                                        |                                                                  
|PCL Limited                                      | U.K.                                        |                                                                  
|The Wyatt Company (UK) Limited                   | U.K.                                        |                                                                  
|The Wyatt Company Holdings Limited               | U.K.                                        |                                                                  
|Watson Wyatt Holdings (Europe) Limited           | U.K.                                        |                                                                  
|Watson Wyatt Limited                             | U.K.                                        |                                                                  
|Wyatt Financial Services Limited                 | U.K.                                        |                                                                  
|Wyatt Pension Plan Trustee Limited               | U.K.                                        |                                                                  
|Watson Wyatt & Company                           | U.S. Delaware                               |                                                                  
|Watson Wyatt Insurance Consulting, Inc.          | U.S. Delaware                               |                                                                  
|Watson Wyatt Investment Consulting, Inc.         | U.S. Delaware                               |                                                                  
|Wyatt Data Services, Inc.                        | U.S. Delaware                               |                                                                  
|Watson Wyatt Insurance Brokerage, Inc.           | U.S. Massachusetts                          |                                                                  
|Watson Wyatt International, Inc.                 | U.S. Nevada                                 |                                                                  
|Watson Wyatt & Company II                        | U.S. Nevada                                 |                                                                  
|WW Finance, Inc.                                 | U.S. Delaware                               |                                                                  

*All of these subsidiaries do business under their own name or under the name Watson Wyatt Worldwide.