**Exhibit21**

** **

**WATSON WYATT &COMPANY HOLDINGS**

**SUBSIDIARIES**

**9-26-05**

** **
| **SUBSIDIARY NAME**                                | ** ** | **JURISDICTION OF  INCORPORATION/  ORGANIZATION** | ** ** | **Name(s) under which  such subsidiary does  business (if  different)(a)** | ** ** |
|----------------------------------------------------|------------|---------------------------------------------------|------------|----------------------------------------------------------------------------|------------|
|                                               |       |                                              |       |                                                                       |       |
| 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 Insurance & Financial Services SA |       | Belgium                                           |       |                                                                       |       |
| Watson Wyatt Brasil Ltda.                          |       | Brazil                                            |       |                                                                       |       |
| Watson Wyatt Consulting Limited                    |       | Canada, Ontario                                   |       |                                                                       |       |
| Watson Wyatt Company Limited                       |       | Canada, Ontario                                   |       |                                                                       |       |
| 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 Hong Kong Limited                     |       | China                                             |       |                                                                       |       |
| Watson Wyatt Insurance Consulting Ltd.             |       | China                                             |       |                                                                       |       |
| Watson Wyatt Colombia S.A.                         |       | Colombia                                          |       |                                                                       |       |
| Watson Wyatt Consultores Colombia S.A.             |       | Colombia                                          |       |                                                                       |       |
| Watson Wyatt S.A.R.L.                              |       | France                                            |       |                                                                       |       |
| Watson Wyatt GmbH                                  |       | Germany                                           |       |                                                                       |       |
| Watson Wyatt Deutschland GmbH                      |       | Germany                                           |       |                                                                       |       |
| Watson Wyatt Insurance Consulting GmbH             |       | Germany                                           |       |                                                                       |       |
| Watson Wyatt Kft                                   |       | Hungary                                           |       |                                                                       |       |
| Watson Wyatt (Ireland) Limited                     |       | Ireland                                           |       |                                                                       |       |
| Watson Wyatt India Private Limited                 |       | India                                             |       |                                                                       |       |
| Watson Wyatt Insurance Consulting Private Ltd      |       | India                                             |       |                                                                       |       |
| P.T. Watson Wyatt Purbajaga                        |       | Indonesia                                         |       |                                                                       |       |
| P.T. Watson Wyatt Indonesia                        |       | Indonesia                                         |       |                                                                       |       |
| Watson Wyatt Italia s.r.l.                         |       | Italy                                             |       |                                                                       |       |
| Watson Wyatt K.K.                                  |       | Japan                                             |       |                                                                       |       |
| Watson Wyatt Insurance Consulting KK               |       | Japan                                             |       |                                                                       |       |
| Watson Wyatt Insurance Consulting (Korea) Limited  |       | Korea                                             |       |                                                                       |       |
| Watson Wyatt (Malaysia) Sdn. Bhd.                  |       | Malaysia                                          |       |                                                                       |       |
| Watson Wyatt Holdings (Mauritius) Limited          |       | Mauritius                                         |       |                                                                       |       |
| Watson Wyatt Mexico, S.A. de C.V.                  |       | Mexico                                            |       |                                                                       |       |
| Watson Wyatt B.V.                                  |       | Netherlands                                       |       |                                                                       |       |
| Watson Wyatt European Region B.V.                  |       | Netherlands                                       |       |                                                                       |       |
| Watson Wyatt Insurance Consulting BV               |       | Netherlands                                       |       |                                                                       |       |
| Watson Wyatt Philippines, Inc.                     |       | Philippines                                       |       |                                                                       |       |
| Watson Wyatt Puerto Rico, Inc.                     |       | Puerto Rico                                       |       |                                                                       |       |
| Watson Wyatt Singapore Pte. Ltd.                   |       | Singapore                                         |       |                                                                       |       |
| Watson Wyatt Insurance Consulting Pte Ltd          |       | Singapore                                         |       |                                                                       |       |
| Watson Wyatt de España, S.A.                  |       | Spain                                             |       |                                                                       |       |
| Watson Wyatt Insurance Consulting (Spain) SA       |       | Spain                                             |       |                                                                       |       |

 

 

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| Watson Wyatt A.B.                                                            |   | Sweden        |   |   |   |
|------------------------------------------------------------------------------|--------|---------------|--------|--------|--------|
| Watson Wyatt AG                                                              |   | Switzerland   |   |   |   |
| Watson Wyatt (Thailand) Ltd.                                                 |   | Thailand      |   |   |   |
| Watson Wyatt Uruguay S.A.                                                    |   | Uruguay       |   |   |   |
| 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 Limited                                                |   | U.K.          |   |   |   |
| Watson Wyatt Holdings (Europe) Limited                                       |   | U.K.          |   |   |   |
| Watson Wyatt International Limited                                           |   | U.K.          |   |   |   |
| Wyatt Financial Services Limited                                             |   | U.K.          |   |   |   |
| Wyatt Pension Plan Trustee Limited                                           |   | U.K.          |   |   |   |
| Watson Wyatt European Region Limited                                         |   | U.K.          |   |   |   |
| Watson Wyatt Limited                                                         |   | U.K.          |   |   |   |
| Watson Wyatt (UK) Acquisitions 1 Limited                                     |   | U.K.          |   |   |   |
| Watson Wyatt (UK) Acquisitions 2 Limited                                     |   | U.K.          |   |   |   |
| Watson Wyatt European Investment LP                                          |   | U.K.          |   |   |   |
| Watson Wyatt European Investment Holdings Limited                            |   | U.K.          |   |   |   |
| Watson Wyatt Insurance & Financial Services  Consulting Holdings Limited |   | U.K.          |   |   |   |
| Watson Wyatt Trustees Limited                                                |   | U.K.          |   |   |   |
| Watsons International Limited                                                |   | U.K.          |   |   |   |
| RWS Trustee Limited                                                          |   | U.K.          |   |   |   |
| Watson Wyatt Pretium Limited                                                 |   | U.K.          |   |   |   |
| Watson’s Pensioneer Trustees Limited                                    |   | U.K.          |   |   |   |
| Watson Wyatt Services 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 European Investment Holdings, Inc.                              |   | U.S. Delaware |   |   |   |
| Watson Wyatt European Investment Holdings 1, LLC                             |   | U.S. Delaware |   |   |   |
| Watson Wyatt European Investment Holdings 2, LLC                             |   | U.S. Delaware |   |   |   |
| Watson Wyatt Insurance & Financial Services Inc.                         |   | U.S. Delaware |   |   |   |
| Watson Wyatt International, Inc.                                             |   | U.S. Nevada   |   |   |   |

 

(a) All of these subsidiaries do business under theirown name or under the name Watson Wyatt Worldwide.

 

 

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