**Exhibit 21**

** **

**WATSON WYATT WORLDWIDE, INC.**

**SUBSIDIARIES**

 
| **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                                         |       |                                                                            |

 

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| 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 |   |   |

 

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| Watson Wyatt BV                                                                   |   | Netherlands          |       |       |
|-----------------------------------------------------------------------------------|--------|----------------------|------------|------------|
|                                                                              |   |                 |       |       |
| Watson Wyatt  International, Inc.                                            |   | Nevada               |       |       |
|                                                                              |   |                 |       |       |
| Watson Wyatt  Philippines, Inc.                                              |   | Philippines          |       |       |
|                                                                              |   |                 |       |       |
| Watson Wyatt Puerto  Rico, Inc.                                              |   | Puerto Rico          |       |       |
|                                                                              |   |                 |       |       |
| 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       |       |       |

 

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| 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        |   |   |

 

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

 

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