**Exhibit 21**

 

**KAISER GROUP HOLDINGS, INC.**9300 Lee HighwayFairfax, VA 22031(703) 934-3413

 

Kaiser Group Holdings, Inc.’sconsolidated subsidiaries are listed below. Consolidated subsidiaries which are less than wholly owned are indicatedby the ownership percentage figure in parentheses following the name of theconsolidated subsidiary.

 
| **Consolidated Subsidiary** | ** **                       | **Jurisdiction  of Formation**              | ** **                            |
|-----------------------------|----------------------------------|---------------------------------------------|---------------------------------------|
|                        |                             |                                        |                                  |   |
| I.                          | Kaiser Group International, Inc. |                                        | Delaware                              |   |
|                        | II.                              | Kaiser Analytical Management Services, Inc. |                                  | Delaware |   |
|                        | II.                              | Kaiser Engineers Group, Inc.                |                                  | Delaware |   |
|                        |                             | III.                                        | Kaiser Engineers, Inc.                |   | Ohio |   |
|                        |                             |                                        | IV.                                   | Kaiser Overseas Engineering, Inc. |   | Delaware |   |
|                        |                             |                                        | IV.                                   | Kaiser Engineers and Constructors, Inc. |   | Nevada |   |
|                        |                             |                                        |                                  | V. | Kaiser Engenharia, S.A. (50%) |   | Portugal |   |
|                        |                             |                                        | IV.                                   | Kaiser Engineers International, Inc. |   | Nevada |   |
|                        |                             |                                        |                                  | V. | Kaiser Engenharia, S.A. (50%) |   | Portugal |   |
|                        | II.                              | Kaiser Engineers Massachusetts, Inc.        |                                  | Delaware |   |
|                        | II.                              | Kaiser Government Programs, Inc.            |                                  | Delaware |   |
|                        |                             | III.                                        | Kaiser K-H Holdings, Inc.             |   | Delaware |   |
|                        |                             |                                        | IV.                                   | Kaiser-Hill Company, LLC (50%) |   | Colorado |   |
|                        |                             |                                        |                                  | V. | Kaiser-Hill Funding Company, L.L.C. (98%) |   | Delaware |   |
|                        |                             |                                        | IV.                                   | Kaiser-Hill Funding Company, L.L.C. (1%) |   | Delaware |   |
|                        | II.                              | Kaiser Holdings Unlimited, Inc.             |                                  | Delaware |   |
|                        |                             | III.                                        | Kaiser Engineers Eastern Europe, Inc. |   | Delaware |   |
|                        |                             |                                        | IV.                                   | Kaiser Netherlands B.V. (10%) |   | Netherlands |   |
|                        |                             | III.                                        | Kaiser Netherlands B.V. (90%)         |   | Netherlands |   |
|                        | II.                              | Kaiser Technology Holdings, Inc.            |                                  | Delaware |   |
|                        | II.                              | Monument Select Insurance Company           |                                  | Vermont |   |
|                        |                             | III.                                        | MSIC, Inc.                            |   | Delaware |   |
|                        | II.                              | Tudor Engineering Company                   |                                  | Delaware |   |

 

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