Exhibit 8.1 Fiscal year 2004



|                                                          |  |               
|--------------------------------------------------------- |  | --------------
|Subsidiary                                                |  | Jurisdiction  
|Condor Immobilien-Gesellschaft mbH                      |  | GERMANY       
|Fontax Grundstücks-Verwaltungsgesellschaft mbH & Co. KG |  | GERMANY       
|4212657 Canada Inc.                                       |  | CANADA        
|48 ND Victoire                                            |  | FRANCE        
|5557 Greens Farm                                          |  | CONNECTICUT   
|A. Diffusion                                              |  | FRANCE        
|A.D.I.C.                                                  |  | COLOMBIA      
|AAAM                                                      |  | FRANCE        
|A-Car Inc                                                 |  | CAYMAN ISLANDS
|ACMAR                                                     |  | MOROCCO       
|ACM-Compagnie Mercur Aktiengesellschaft                   |  | GERMANY       
|ADAM Asia Pacific GmbH                                    |  | GERMANY       
|ADAM Hellas S.A.                                          |  | GREECE        
|ADAM Hong Kong Ltd                                        |  | HONG KONG     
|ADAM Ltd.                                                 |  | AUSTRALIA     
|ADAM Taiwan Ltd                                           |  | TAIWAN        
|ADAM U.S. Holding LL                                      |  | DELAWARE      
|ADAM U.S. Partners GP                                     |  | DELAWARE      
|ADEUS Aktienregister-Service-GmbH                         |  | GERMANY       
|Adriática de Seguros C.A.                                 |  | VENEZUELA     
|Advisa Zürich AG                                          |  | SWITZERLAND   
|AFA                                                       |  | FRANCE        
|AFC Assecuranzund Finanzvermittlungs-Contor GmbH         |  | GERMANY       
|Agemis GmbH                                               |  | GERMANY       
|AGF 2X                                                    |  | FRANCE        
|AGF AFRIQUE Holding                                       |  | FRANCE        
|AGF AFRIQUE S.A.                                          |  | COTE DIVOIRE 
|AGF Allianz Argentina Compania de Seguros Generales S.A.  |  | ARGENTINA     
|AGF Allianz South America Ltda.                           |  | BRAZIL        
|AGF ALTERNATIVE 2 ANS LH                                  |  | FRANCE        
|AGF ALTERNATIVE HOLDINGS PARTENAIRES MIN LH               |  | FRANCE        
|AGF Ameriques D                                           |  | FRANCE        
|AGF Asac Actions                                          |  | FRANCE        
|AGF Asia                                                  |  | SINGAPORE     
|AGF Asset Management S.A.                                 |  | FRANCE        
|AGF Assurances Financières                                |  | FRANCE        
|AGF Assurfinance                                          |  | FRANCE        
|AGF Belgium Holding S.A.                                  |  | BELGIUM       
|AGF Belgium Insurance S.A.                                |  | BELGIUM       
|AGF Benelux S.A.                                          |  | LUXEMBOURG    
|AGF Boïeldieu                                             |  | FRANCE        
|AGF Brasil Seguros S.A.                                   |  | BRAZIL        
|AGF CREATIONS1                                            |  | FRANCE        
|AGF CREATIONS2                                            |  | FRANCE        
|AGF do Brasil Ltda.                                       |  | BRAZIL        
|AGF Euro Actions C et D                                   |  | FRANCE        
|AGF Euro Inflation L                                      |  | FRANCE        



---

Exhibit 8.1 Fiscal year 2004



|                                                                  |  |               
|----------------------------------------------------------------- |  | --------------
|AGF Financement 2                                                 |  | FRANCE        
|AGF Haut Rendement                                                |  | FRANCE        
|AGF Holding                                                       |  | FRANCE        
|AGF Holdings (UK)                                                 |  | UNITED KINGDOM
|AGF HOSPITAL EURO L                                               |  | FRANCE        
|AGF Hospitalier International L                                   |  | FRANCE        
|AGF Hospitaliers Monde                                            |  | FRANCE        
|AGF Immobilier                                                    |  | FRANCE        
|AGF Indonesia                                                     |  | INDONESIA     
|AGF Informatique                                                  |  | FRANCE        
|AGF Insurance Limited                                             |  | UNITED KINGDOM
|AGF International                                                 |  | FRANCE        
|AGF Inversiones                                                   |  | ARGENTINA     
|AGF La Lilloise                                                   |  | FRANCE        
|AGF Life Luxembourg S.A.                                          |  | LUXEMBOURG    
|AGF Opéra                                                         |  | FRANCE        
|AGF Opti Index                                                    |  | FRANCE        
|AGF Pension Trustees                                              |  | UNITED KINGDOM
|AGF Private Equity                                                |  | FRANCE        
|AGF Project Management Ltd.                                       |  | UNITED KINGDOM
|AGF RAS Holding BV                                                |  | NETHERLANDS   
|AGF Richelieu                                                     |  | FRANCE        
|AGF Saude S.A.                                                    |  | BRAZIL        
|AGF SECURICASH L                                                  |  | FRANCE        
|AGF SECURICASH NL                                                 |  | FRANCE        
|AGF Senegal Vie S.A.                                              |  | SENEGAL       
|AGF Senegal IARD S.A.                                             |  | SENEGAL       
|AGF USA N                                                         |  | FRANCE        
|AGF USA USA                                                       |  | FRANCE        
|AGFARC Ltd.                                                       |  | UNITED KINGDOM
|AGFimo                                                            |  | FRANCE        
|AGIS Allianz Dresdner Informationssysteme GmbH                    |  | GERMANY       
|Agora Courtage                                                    |  | FRANCE        
|Agricola San Felice S.p.A.                                        |  | ITALY         
|AGT                                                               |  | TOGO          
|AI Industriebesitz und Beteiligungen Isar-Amperwerke AG & Co. OHG |  | GERMANY       
|Aiolos Vermögensverwaltungsgesellschaft mbH                       |  | GERMANY       
|Airbus-Leasing Beteiligungsgesellschaft mbH                       |  | GERMANY       
|Ajax Insurance Holdings Limited                                   |  | UNITED KINGDOM
|Alba Allgemeine Versicherungs-Gesellschaft                        |  | SWITZERLAND   
|Alexander Kralis Ltd.                                             |  | GREECE        
|Alexandria Capital PLC                                            |  | IRELAND       
|Alfa Trade Corporation spol s.r.o.                                |  | CZECH REPUBLIC
|Alico-Beteiligungsgesellschaft mbH                                |  | GERMANY       
|Alida Grundstücksgesellschaft mbH & Co. KG                        |  | GERMANY       
|Alida Grundstücksverwaltungs GmbH                                 |  | GERMANY       
|Allianz Australian Claims Services Limited                        |  | AUSTRALIA     
|Allianz (UK) Limited                                              |  | UNITED KINGDOM
|Allianz AADB Fonds                                                |  | GERMANY       



---

Exhibit 8.1 Fiscal year 2004



|                                                              |  |               
|------------------------------------------------------------- |  | --------------
|Allianz ABS Fonds                                             |  | GERMANY       
|Allianz AGF MAT UK Holding                                    |  | UNITED KINGDOM
|Allianz America Latina S.C. Ltda.                             |  | BRAZIL        
|Allianz Asset Management                                      |  | SWITZERLAND   
|Allianz Australia Workers Compensation (Victoria) Limited     |  | AUSTRALIA     
|Allianz Australia Advantage Ltd.                              |  | AUSTRALIA     
|Allianz Australia Employee Share Plan Pty Ltd.                |  | AUSTRALIA     
|Allianz Australia Insurance Limited                           |  | AUSTRALIA     
|Allianz Australia Limited                                     |  | AUSTRALIA     
|Allianz Australia Services (No. 2) Pty Ltd                    |  | AUSTRALIA     
|Allianz Australia Services Pty Limited                        |  | AUSTRALIA     
|Allianz Australia Workers Compensation (NSW) Limited          |  | AUSTRALIA     
|Allianz Australia Workers Compensation (SA) Limited           |  | AUSTRALIA     
|Allianz Autowelt GmbH                                         |  | GERMANY       
|Allianz AVM Fonds                                             |  | GERMANY       
|Allianz BADB Fonds                                            |  | GERMANY       
|Allianz Beteiligungs Management GmbH                          |  | GERMANY       
|Allianz Bulgaria Holding Company Ltd.                         |  | BULGARIA      
|Allianz Bulgaria Insurance and Reinsurance Company Ltd.       |  | BULGARIA      
|Allianz Bulgaria Life Insurance Company Ltd.                  |  | BULGARIA      
|Allianz Bulgaria Pension Assurance Company Ltd.               |  | BULGARIA      
|Allianz Capital Managers GmbH                                 |  | GERMANY       
|Allianz Capital Partners GmbH                                 |  | GERMANY       
|Allianz Capital Partners Management GmbH                      |  | GERMANY       
|Allianz Cash Pool LLC                                         |  | DELAWARE      
|Allianz Center Management GmbH (ACM)                          |  | GERMANY       
|Allianz Compagnia Italiana Finanziamenti S.p.A.               |  | ITALY         
|Allianz CompanÍa de Seguros y Reaseguros S.A.                 |  | SPAIN         
|Allianz Cornhill Equity Investments Ltd.                      |  | UNITED KINGDOM
|Allianz Cornhill Financial Management Ltd.                    |  | UNITED KINGDOM
|Allianz Cornhill Holdings Limited                             |  | UNITED KINGDOM
|Allianz Cornhill Information Services Private Ltd.            |  | INDIA         
|Allianz Cornhill Insurance Company Pension Fund Trustees Ltd. |  | UNITED KINGDOM
|Allianz Cornhill Insurance plc.                               |  | UNITED KINGDOM
|Allianz Cornhill Investment Properties Ltd.                   |  | UNITED KINGDOM
|Allianz Cornhill Northern Ireland Limited                     |  | UNITED KINGDOM
|Allianz Corporate Ireland Insurance p.l.c.                    |  | IRELAND       
|Allianz Credit Card Management Co.                            |  | GREECE        
|Allianz Dazhong Life Insurance Company Ltd.                   |  | CHINA         
|Allianz Dresdner Asset Management Australia Ltd.              |  | AUSTRALIA     
|Allianz Dresdner Asset Management Singapur Ltd.               |  | SINGAPORE     
|Allianz Dresdner Bauspar AG                                   |  | GERMANY       
|Allianz Dresdner Funds Ltd.                                   |  | UNITED KINGDOM
|Allianz Dresdner Global Investors Deutschland GmbH            |  | GERMANY       
|Allianz Dresdner Management Services (UK) Ltd.                |  | UNITED KINGDOM
|Allianz Dresdner Mutual Fund Management Co. S.A.              |  | GREECE        
|Allianz Dresdner Pension Consult GmbH                         |  | GERMANY       
|Allianz Dresdner Pensionsfonds AG                             |  | GERMANY       
|Allianz Dresdner Securities Investment Consulting Ltd.        |  | TAIWAN        
|Allianz EFU Health Insurance Ltd.                             |  | PAKISTAN      



---

Exhibit 8.1 Fiscal year 2004



|                                                                              |  |               
|----------------------------------------------------------------------------- |  | --------------
|Allianz Egypt Insurance Company S.A.E.                                        |  | EGYPT         
|Allianz Egypt Life Company S.A.E.                                             |  | EGYPT         
|Allianz Elementar Lebensversicherungs-Aktiengesellschaft                      |  | AUSTRIA       
|Allianz Elementar Versicherungs-Aktiengesellschaft                            |  | AUSTRIA       
|Allianz Elementar Werkküchen-Betriebsgesellschaft mbH                         |  | AUSTRIA       
|Allianz Europe Ltd.                                                           |  | NETHERLANDS   
|Allianz FADB Fonds                                                            |  | GERMANY       
|Allianz Finance B.V.                                                          |  | NETHERLANDS   
|Allianz Finance Corporation                                                   |  | DELAWARE      
|Allianz Finance II B.V.                                                       |  | NETHERLANDS   
|Allianz Finanzbeteiligungs GmbH                                               |  | GERMANY       
|Allianz FinanzInvest Beratungs Ges.mbH                                        |  | AUSTRIA       
|Allianz Fire and Marine Insurance Japan Ltd.                                  |  | JAPAN         
|ALLIANZ FRANCE                                                                |  | FRANCE        
|Allianz General Insurance (Vietnam) Co.                                       |  | VIET NAM      
|Allianz General Insurance Company S.A.                                        |  | GREECE        
|Allianz General Insurance Malaysia Berhad p.l.c.                              |  | MALAYSIA      
|Allianz Gestion Sociedad Gestora de Instituciones de Inversion Colectiva S.A. |  | SPAIN         
|Allianz GLA Fonds                                                             |  | GERMANY       
|Allianz Global Investors (Schweiz) AG                                         |  | SWITZERLAND   
|Allianz Global Investors Advisory GmbH                                        |  | GERMANY       
|Allianz Global Investors AG                                                   |  | GERMANY       
|Allianz Global Investors Europe GmbH                                          |  | GERMANY       
|Allianz Global Investors Holdings (UK) Ltd                                    |  | UNITED KINGDOM
|Allianz Global Investors Japan Co.                                            |  | JAPAN         
|Allianz Global Investors Luxembourg S.A.                                      |  | LUXEMBOURG    
|Allianz Global Investors of America L.P.                                      |  | DELAWARE      
|Allianz Global Investors of America LLC                                       |  | CALIFORNIA    
|Allianz Global Investors US Equities LLC                                      |  | DELAWARE      
|Allianz Global Investors US Holdings Inc.                                     |  | DELAWARE      
|Allianz Global Risks Rückversicherungs-AG                                     |  | GERMANY       
|Allianz Global Risks US Insurance Company                                     |  | CALIFORNIA    
|Allianz GLR Fonds                                                             |  | GERMANY       
|Allianz GLU Fonds                                                             |  | GERMANY       
|Allianz GREU Fonds                                                            |  | GERMANY       
|Allianz GRGB Fonds                                                            |  | GERMANY       
|Allianz HAI 2 Fonds                                                           |  | GERMANY       
|Allianz Healthcare Beteiligungs GmbH                                          |  | GERMANY       
|Allianz Hedge Fund P. (Caymen)                                                |  | CAYMAN ISLANDS
|Allianz Hedge Fund P. SARL                                                    |  | DELAWARE      
|Allianz Hedge Fund Parners LP                                                 |  | DELAWARE      
|Allianz Hedge Fund Partners                                                   |  | DELAWARE      
|Allianz Hedge Fund Partners Holdings LP                                       |  | DELAWARE      
|Allianz HKV-Fonds                                                             |  | GERMANY       
|Allianz Hungária Biztosító Rt.                                                |  | HUNGARY       
|Allianz Hungária Pénztárüzemeltetési Kft.                                     |  | HUNGARY       
|Allianz Immobilien GmbH                                                       |  | GERMANY       
|Allianz Immobilienfonds 1 KG                                                  |  | GERMANY       
|Allianz Immobilienfonds GmbH                                                  |  | GERMANY       



---

Exhibit 8.1 Fiscal year 2004



|                                                    |  |                   
|--------------------------------------------------- |  | ------------------
|Allianz Individual Insurance Group LLC              |  | MINNEAPOLIS       
|Allianz Informatik Beteiligungsgesellschaft mbH     |  | GERMANY           
|Allianz Insurance (Hong Kong) Limited               |  | CHINA             
|Allianz Insurance Company Lanka Limited             |  | SRI LANKA         
|Allianz Insurance Company of Singapore Pte. Ltd.    |  | SINGAPORE         
|Allianz Insurance Limited                           |  | SOUTH AFRICA      
|Allianz Insurance Management Asia Pacific Pte. Ltd. |  | SINGAPORE         
|Allianz International Ltd.                          |  | UNITED KINGDOM    
|Allianz Invest Kapitalanlage GmbH                   |  | AUSTRIA           
|Allianz Invest Osteuropa LH                         |  | AUSTRIA           
|Allianz Invest Osteuropa NL                         |  | AUSTRIA           
|Allianz Invest Ostrent NL                           |  | AUSTRIA           
|Allianz Investment 1 B.V.                           |  | NETHERLANDS       
|Allianz Investment 2 B.V.                           |  | NETHERLANDS       
|Allianz Investment Bank AG (A.I.B.)                 |  | AUSTRIA           
|Allianz Investment Company LLC                      |  | CONNECTICUT       
|Allianz Investment Management B.V.                  |  | NETHERLANDS       
|Allianz Ireland p.l.c.                              |  | IRELAND           
|Allianz Irish Life Holdings p.l.c.                  |  | IRELAND           
|Allianz Leben Private Equity Fonds Plus GmbH        |  | GERMANY           
|Allianz Lebensversicherungs-AG                      |  | GERMANY           
|Allianz Life Insurance Co. Ltd.                     |  | KOREA, REPUBLIC OF
|Allianz Life Insurance Company of North America     |  | MINNESOTA         
|Allianz Life Insurance Company S.A.                 |  | GREECE            
|Allianz Life Insurance Malaysia Berhad p.l.c.       |  | MALAYSIA          
|Allianz Life Insurance of New York                  |  | NEW YORK          
|Allianz Life Moskau                                 |  | RUSSIAN FEDERATION
|Allianz Management Services Ltd.                    |  | UNITED KINGDOM    
|Allianz Marine & Aviation France                    |  | FRANCE            
|Allianz Marine & Aviation Versicherungs-AG          |  | GERMANY           
|Allianz Marine (UK) Ltd.                            |  | UNITED KINGDOM    
|Allianz México S.A. Compañía de Seguros             |  | MEXICO            
|Allianz MRD Fonds                                   |  | GERMANY           
|Allianz Nederland Groep N.V.                        |  | NETHERLANDS       
|Allianz Nederland Levensverzekering N.V.            |  | NETHERLANDS       
|Allianz Nederland Schadeverzekering N.V.            |  | NETHERLANDS       
|Allianz New Zealand Limited                         |  | NEW ZEALAND       
|Allianz ObjektbeteiligungsGmbH                     |  | GERMANY           
|Allianz of America                                  |  | NEW YORK          
|Allianz of America Corp.                            |  | NEW YORK          
|Allianz of Asia-Pacific and Africa GmbH             |  | GERMANY           
|Allianz of South Africa (Proprietary) Ltd.          |  | SOUTH AFRICA      
|Allianz Ostrent LH                                  |  | AUSTRIA           
|Allianz Pensionskasse AG                            |  | AUSTRIA           
|Allianz Pensionskasse AG                            |  | GERMANY           
|Allianz penzijní fond                               |  | CZECH REPUBLIC    
|Allianz Pimco Corporate LH                          |  | AUSTRIA           
|Allianz Pimco Corporate NL                          |  | AUSTRIA           
|Allianz Pimco Mortgage LH                           |  | AUSTRIA           
|Allianz Pimco Mortgage NL                           |  | AUSTRIA           



---

Exhibit 8.1 Fiscal year 2004



|                                                                    |  |                               
|------------------------------------------------------------------- |  | ------------------------------
|Allianz pojistovna                                                  |  | CZECH REPUBLIC                
|Allianz President Life Insurance Co. Ltd.                           |  | TAIWAN                        
|Allianz Private Equity GmbH                                         |  | GERMANY                       
|Allianz Private Equity Partners                                     |  | NEW YORK                      
|Allianz Private Equity Partners GmbH                                |  | GERMANY                       
|Allianz Private Krankenversicherungs-AG                             |  | GERMANY                       
|Allianz Private Vermögensverwaltungsgesellschaft mbH                |  | GERMANY                       
|Allianz ProzessFinanz GmbH                                          |  | GERMANY                       
|Allianz PV WS Fonds                                                 |  | GERMANY                       
|Allianz Re Dublin Ltd.                                              |  | IRELAND                       
|Allianz Real Estate Corporation                                     |  | DELAWARE                      
|Allianz Rechtsschutz-Service GmbH                                   |  | GERMANY                       
|Allianz reosiguranje d.d.                                           |  | CROATIA (local name: Hrvatska)
|Allianz Risk Consultant SRL                                         |  | ROMANIA                       
|Allianz Risk Consultants B.V.                                       |  | NETHERLANDS                   
|Allianz Risk Consultants Inc.                                       |  | CALIFORNIA                    
|Allianz Risk Transfer (Bermuda) Ltd.                                |  | BERMUDA                       
|Allianz Risk Transfer (U.K.)                                        |  | UNITED KINGDOM                
|Allianz Risk Transfer AG                                            |  | SWITZERLAND                   
|Allianz Risk Transfer Inc.                                          |  | NEW YORK                      
|Allianz Risk Transfer N.V.                                          |  | NETHERLANDS                   
|Allianz Romania SA                                                  |  | ROMANIA                       
|Allianz S.A.                                                        |  | SPAIN                         
|Allianz Services (UK) Limited                                       |  | UNITED KINGDOM                
|Allianz Services Sp. z o.o.                                         |  | POLAND                        
|Allianz Servicios Técnicos                                          |  | SPAIN                         
|Allianz Share Scheme Trustees Limited                               |  | UNITED KINGDOM                
|Allianz Sociedad de Valores S.A.                                    |  | SPAIN                         
|Allianz Société Financiére S.à.r.l.                                 |  | LUXEMBOURG                    
|Allianz Specialised Investment Central Europe Sp. Zoo               |  | POLAND                        
|Allianz Specialised Investments Central Europe Kft                  |  | HUNGARY                       
|Allianz Specialised Investments Central Europe sro                  |  | CZECH REPUBLIC                
|Allianz Specialised Investments Ltd.                                |  | UNITED KINGDOM                
|Allianz Subalpina Società di Assicurazioni e Riassicurazioni S.p.A. |  | ITALY                         
|Allianz Suisse Immobilien AG                                        |  | SWITZERLAND                   
|Allianz Suisse Lebensversicherungs-Gesellschaft                     |  | SWITZERLAND                   
|Allianz Suisse Personal Financial Services AG                       |  | SWITZERLAND                   
|Allianz Suisse Versicherungs-Gesellschaft                           |  | SWITZERLAND                   
|Allianz Taunusanlage GbR                                            |  | GERMANY                       
|Allianz Technical Service Inc.                                      |  | DELAWARE                      
|Allianz Tiriac Insurance S.A.                                       |  | ROMANIA                       
|Allianz Underwriters Insurance Company                              |  | CALIFORNIA                    
|Allianz Venture Partners Beteiligungs-GmbH                          |  | GERMANY                       
|Allianz Versicherungs-AG                                            |  | GERMANY                       
|Allianz VKA Fonds                                                   |  | GERMANY                       
|Allianz VKBR-Fonds                                                  |  | GERMANY                       
|Allianz VKRD-Fonds                                                  |  | GERMANY                       
|Allianz VLBR-Fonds                                                  |  | GERMANY                       
|Allianz VSR Fonds                                                   |  | GERMANY                       
|Allianz VVB Fonds                                                   |  | GERMANY                       



---

Exhibit 8.1 Fiscal year 2004



|                                                                           |  |                               
|-------------------------------------------------------------------------- |  | ------------------------------
|Allianz Wohneigentum GmbH                                                  |  | GERMANY                       
|Allianz Worldwide Care Ltd.                                                |  | IRELAND                       
|Allianz Zagreb d.d.                                                        |  | CROATIA (local name: Hrvatska)
|Allianz ZB d.o.o. Company for the Management of an Obligatory Pension Fund |  | CROATIA (local name: Hrvatska)
|Allianz ZB d.o.o. company of the management of voluntary pension funds     |  | CROATIA (local name: Hrvatska)
|Allianz Zentrum für Technik GmbH                                           |  | GERMANY                       
|Allianz_ALD_Fonds                                                          |  | GERMANY                       
|Allianz_ALIK_Fonds                                                         |  | GERMANY                       
|Allianz_AVI_1 Fonds                                                        |  | GERMANY                       
|Allianz_AVM_B_Fonds                                                        |  | GERMANY                       
|Allianz_BRD_Fonds                                                          |  | GERMANY                       
|Allianz_DESTO_AR_Fonds                                                     |  | GERMANY                       
|Allianz_DESTO_Fonds                                                        |  | GERMANY                       
|Allianz_DGD_Fonds                                                          |  | GERMANY                       
|Allianz_DRD_Fonds                                                          |  | GERMANY                       
|Allianz_EAI_Fonds                                                          |  | GERMANY                       
|Allianz_FAD_Fonds                                                          |  | GERMANY                       
|Allianz_FRD_Fonds                                                          |  | GERMANY                       
|Allianz_HAI_1_Fonds                                                        |  | GERMANY                       
|Allianz_HME_1_Fonds                                                        |  | GERMANY                       
|Allianz_Invest_11                                                          |  | AUSTRIA                       
|Allianz_Invest_11                                                          |  | AUSTRIA                       
|Allianz_Invest_12                                                          |  | AUSTRIA                       
|Allianz_Invest_Spezial_2                                                   |  | AUSTRIA                       
|Allianz_Invest_Spezial_3                                                   |  | AUSTRIA                       
|Allianz_LAD_Fonds                                                          |  | GERMANY                       
|Allianz_LBR_Fonds                                                          |  | GERMANY                       
|Allianz_LFE_Fonds                                                          |  | GERMANY                       
|Allianz_LRD_Fonds                                                          |  | GERMANY                       
|Allianz_PV_1_Fonds                                                         |  | GERMANY                       
|Allianz_RFG_Fonds                                                          |  | GERMANY                       
|Allianz_RMO_1_Fonds                                                        |  | GERMANY                       
|Allianz_SALCO_Fonds                                                        |  | GERMANY                       
|Allianz_SDR_Fonds                                                          |  | GERMANY                       
|Allianz_SOA_Fonds                                                          |  | GERMANY                       
|Allianz_SWAG_Fonds                                                         |  | GERMANY                       
|Allianz_UGD_1_Fonds (UPR)                                                  |  | GERMANY                       
|Allianz_VAD_Fonds                                                          |  | GERMANY                       
|Allianz_VAE_Fonds                                                          |  | GERMANY                       
|Allianz_VGI_1_Fonds (UPR)                                                  |  | GERMANY                       
|Allianz_VGL_Fonds                                                          |  | GERMANY                       
|Allianz-PacLife Partners LLC                                               |  | DELAWARE                      
|Allianz-Slovenská DSS                                                      |  | SLOVAKIA (Slovak Republic)    
|Allianz-Slovenská poistovna a.s.                                          |  | SLOVAKIA (Slovak Republic)    
|ALLVOR AG                                                                  |  | SWITZERLAND                   
|Am Anger Immobilienverwaltungs-GmbH                                        |  | GERMANY                       
|Am Anger Verwaltungs-GmbH & Co. KG                                         |  | GERMANY                       
|Amaya AG                                                                   |  | SWITZERLAND                   



---

Exhibit 8.1 Fiscal year 2004



|                                                          |  |                                 
|--------------------------------------------------------- |  | --------------------------------
|Amaya Compania de Seguros y Reaseguros SA                 |  | SPAIN                           
|American Automobile Insurance Company                     |  | MISSOURI                        
|American Financial Marketing                              |  | MINNESOTA                       
|Annex Capital Partners LLC (GP)                           |  | CAYMAN ISLANDS                  
|Annex Holdings I LP                                       |  | CAYMAN ISLANDS                  
|Antoniana Veneta Popolare Assicurazioni S.p.A.            |  | ITALY                           
|Antoniana Veneta Popolare Vita S. p. A.                   |  | ITALY                           
|Aquila Beteiligungsgesellschaft mbH                       |  | GERMANY                         
|Arcalis                                                   |  | FRANCE                          
|Arlon Properties S.A.                                     |  | LUXEMBOURG                      
|ARSA B.V.                                                 |  | NETHERLANDS                     
|AS 24 (AS NIJUYON K.K.)                                   |  | JAPAN                           
|Asopos Vermögensverwaltungsgesellschaft mbH               |  | GERMANY                         
|ASREX                                                     |  | FRANCE                          
|Assimediass S.r.l.                                        |  | ITALY                           
|Assistance                                                |  | FRANCE                          
|ASSISTANCE AND SERVICES CORPORATION OF IRELAND A.S.C.I. |  | IRELAND                         
|Associated Group Benefits Ltd.                            |  | CANADA                          
|Associated Indemnity Corporation                          |  | CALIFORNIA                      
|Assurance Finance Europe (AFI Europe)                     |  | FRANCE                          
|Assurance Vie et Prévoyance (AVIP IARD) SA                |  | FRANCE                          
|Assurance Vie et Prévoyance (AVIP) SA                     |  | FRANCE                          
|Assurances Fédérales                                      |  | FRANCE                          
|Assurances Fédérales BV                                   |  | FRANCE                          
|Assurances Générales de France                            |  | FRANCE                          
|Assurances Générales de France IART S.A.                  |  | FRANCE                          
|Assurances Générales de France Vie S.A.                   |  | FRANCE                          
|Assurances Generales du Laos                              |  | LAO PEOPLES DEMOCRATIC REPUBLIC
|Athéna                                                    |  | FRANCE                          
|Athéna Gestion                                            |  | FRANCE                          
|Atrium SAS                                                |  | FRANCE                          
|Atropos Vermögensverwaltungsgesellschaft mbH              |  | GERMANY                         
|Auslands-Incasso-Bank GmbH                                |  | GERMANY                         
|Axioma Insurance (Cyprus) Ltd.                            |  | CYPRUS                          
|Az Global Risk Ltd.                                       |  | SOUTH AFRICA                    
|AZ Leben Private Equity Fonds 2001 GmbH                   |  | GERMANY                         
|AZ Private Equity (UK) Holdings Ltd.                      |  | UNITED KINGDOM                  
|AZ Via Immo 3                                             |  | FRANCE                          
|AZ-Almüco Vermögensverwaltungsgesellschaft mbH            |  | GERMANY                         
|AZ-Arges Vermögensverwalgungsgesellschaft mbH             |  | GERMANY                         
|AZ-Argos 10 Vermögensverwaltungsgesellschaft mbH          |  | GERMANY                         
|AZ-Argos 11 Vermögensverwaltungsgesellschaft mbH          |  | GERMANY                         
|AZ-Argos 12 Vermögensverwaltungsgesellschaft mbH          |  | GERMANY                         
|AZ-Argos 13 Vermögensverwaltungsgesellschaft mbH          |  | GERMANY                         
|AZ-Argos 14 Vermögensverwaltungsgesellschaft mbH          |  | GERMANY                         
|AZ-Argos 15 Vermögensverwaltungsgesellschaft mbH          |  | GERMANY                         
|AZ-Argos 16 Vermögensverwaltungsgesellschaft mbH          |  | GERMANY                         
|AZ-Argos 17 Vermögensverwaltungsgesellschaft mbH          |  | GERMANY                         



---

Exhibit 8.1 Fiscal year 2004





|                                                 |  |               
|------------------------------------------------ |  | --------------
|AZ-Argos 18 Vermögensverwaltungsgesellschaft mbH |  | GERMANY       
|AZ-Argos 19 Vermögensverwaltungsgesellschaft mbH |  | GERMANY       
|AZ-Argos 2 Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZ-Argos 21 Vermögensverwaltungsgesellschaft mbH |  | GERMANY       
|AZ-Argos 22 Vermögensverwaltungsgesellschaft mbH |  | GERMANY       
|AZ-Argos 3 Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZ-Argos 4 Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZ-Argos 5 Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZ-Argos 6 Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZ-Argos 9 Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZB-Arges Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|AZB-Arion Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|AZF-Arges1 Vermögensverwaltungsgesellschaft      |  | GERMANY       
|AZF-Arges2 Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZF-Arion Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|AZG-Arges Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|AZ-LAD Vermögensverwaltungsgesellschaft mbH      |  | GERMANY       
|AZL-Alico Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|AZL-Almüco Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZL-DRB Vermögensverwaltungsgesellschaft mbH     |  | GERMANY       
|AZ-Leben Private Equity Fonds 1998 GmbH          |  | GERMANY       
|AZ-LIN Vermögensverwaltungsgesellschaft mbH      |  | GERMANY       
|AZL-Nona Vermögensverwaltungsgesellschaft mbH    |  | GERMANY       
|AZL-Regina Vermögensverwaltungsgesellschaft mbH  |  | GERMANY       
|AZL-SER Vermögensverwaltungsgesellschaft mbH     |  | GERMANY       
|AZ-MPS Beteiligungsgesellschaft mbH & Co. KG     |  | GERMANY       
|AZ-Quinta Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|AZS-Arges Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|AZ-SDC Vermögensverwaltungsgesellschaft mbH      |  | GERMANY       
|AZ-SER Vermögensverwaltungsgesellschaft mbH      |  | GERMANY       
|AZ-SGD Private Equity Fonds GmbH                 |  | GERMANY       
|AZV-Arion Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|AZV-Nona Vermögensverwaltungsgesellschaft mbH    |  | GERMANY       
|BACAB S.A.                                       |  | SWITZERLAND   
|Bank for Europe Ltd.                             |  | UNITED KINGDOM
|Bankhaus W. Fortmann & Söhne                     |  | GERMANY       
|Banque AGF S.A.                                  |  | FRANCE        
|BARTEC AB                                        |  | SWEDEN        
|BARTEC AS                                        |  | NETHERLANDS   
|BARTEC Barlian Industries Holding AG             |  | SWITZERLAND   
|BARTEC Belgium N.V.                              |  | BELGIUM       
|BARTEC Benke GmbH                                |  | GERMANY       
|BARTEC Consult GmbH                              |  | GERMANY       
|BARTEC d.o.o.                                    |  | HUNGARY       
|BARTEC d.o.o.                                    |  | SLOVENIA      
|BARTEC Elektrotechnik GmbH                       |  | AUSTRIA       
|BARTEC Engineering + Services AG                 |  | SWITZERLAND   
|Bartec GmbH                                      |  | GERMANY       
|BARTEC Ltd.                                      |  | JAPAN         
|BARTEC Nederland B.V.                            |  | NETHERLANDS   



---

Exhibit 8.1 Fiscal year 2004





|                                                                                           |  |               
|------------------------------------------------------------------------------------------ |  | --------------
|BARTEC Nederland Ultrakust Division B.V.                                                   |  | NETHERLANDS   
|BARTEC Pte Ltd.                                                                            |  | SINGAPORE     
|BARTEC S.A.                                                                                |  | SPAIN         
|BARTEC s.a.r.l.                                                                            |  | FRANCE        
|BARTEC s.r.l.                                                                              |  | ITALY         
|BARTEC s.r.o.                                                                              |  | CZECH REPUBLIC
|BARTEC Sicherheits-Schaltanlagen GmbH                                                      |  | GERMANY       
|BARTEC UK Ltd.                                                                             |  | UNITED KINGDOM
|BARTEC US Corp.                                                                            |  | OKLAHOMA      
|BARTEC Varnost d.o.o.                                                                      |  | SLOVENIA      
|BAWAG Allianz Mitarbeitervorsorgekasse AG                                                  |  | AUSTRIA       
|Bayerische Versicherungsbank AG                                                            |  | GERMANY       
|BD-Financial Management Ltd.                                                               |  | IRELAND       
|BdW Beteiligungsverwaltungsgesellschaft mbH                                                |  | GERMANY       
|Beethoven Funding Corporation                                                              |  | NEW YORK      
|BERGA Grundstücks-Verwaltungsgesellschaft mbH & Co. KG                                     |  | GERMANY       
|Bergwitzer Braunkohle AG                                                                   |  | GERMANY       
|Bernese Assicurazioni Compagnia Italo-Svizzera di Assicurazioni e Riassicurazioni S.p.A.   |  | ITALY         
|Bernese Assicurazioni Finanziaria S.p.A.                                                   |  | ITALY         
|Bernese Vita Compagnia Italo-Svizzera di Assicurazioni e Riassicurazioni sulla Vita S.p.A. |  | ITALY         
|BFC Berliner Film Companie Beteiligungsgesellschaft mbH                                    |  | GERMANY       
|BFC Berliner Film Companie CoP GmbH                                                        |  | GERMANY       
|BFC Berliner Film Companie Distribution GmbH                                               |  | GERMANY       
|BFC Berliner Film Companie Produktions GmbH                                                |  | GERMANY       
|BFC Berliner Film Companie Studio GmbH                                                     |  | GERMANY       
|BIC                                                                                        |  | BRAZIL        
|Bilan Service                                                                              |  | FRANCE        
|BIP Arbitrage-Gesellschaft mbH i. L.                                                       |  | GERMANY       
|BNP-AK-Dresdner Finansal Kiralama A.S.                                                     |  | TURKEY        
|Borgo San Felice S.r.l.                                                                    |  | ITALY         
|Borrowdale Nominees Ltd                                                                    |  | UNITED KINGDOM
|Bosphorus Capital Limited                                                                  |  | IRELAND       
|Botanic Building S.A.                                                                      |  | BELGIUM       
|Braun & Co. Gesellschaft mbH                                                               |  | AUSTRIA       
|Bridge Re Limited                                                                          |  | MASSACHUSETTS 
|British Financial Union Ltd                                                                |  | UNITED KINGDOM
|British Reserve Insurance Co. Ltd.                                                         |  | UNITED KINGDOM
|Buck Consultants Ireland                                                                   |  | IRELAND       
|Buck Heissmann B.V. NL                                                                     |  | NETHERLANDS   
|Buck Heissmann International Services GmbH                                                 |  | GERMANY       
|Buck Heissmann S.L.                                                                        |  | SPAIN         
|Buck Heissmann Sarl                                                                        |  | SWITZERLAND   
|Buizerlann                                                                                 |  | NETHERLANDS   
|Bulgaria Net Co. Ltd.                                                                      |  | BULGARIA      
|Bureau dExpertises Despretz S.A.                                                          |  | BELGIUM       
|Bürgel Beteiligungs GmbH                                                                   |  | GERMANY       
|Bürgel Erfurt Beteiligungsgesellschaft mbH                                                 |  | GERMANY       
|Bürgel Erfurt GmbH & Co. KG                                                                |  | GERMANY       



---

Exhibit 8.1 Fiscal year 2004





|                                                                             |  |               
|---------------------------------------------------------------------------- |  | --------------
|Bürgel Wirtschaftsinformationen AG Zürich                                    |  | SWITZERLAND   
|Bürgel Wirtschaftsinformationen GmbH & Co. KG                                |  | GERMANY       
|Bürgel Wirtschaftsinformationen Hamburg GmbH                                 |  | GERMANY       
|Bürgel Wirtschaftsinformationen Vertriebsgesellschaft mbH                    |  | GERMANY       
|Bürgel Wirtschaftsinformationen Verwaltungs-GmbH                             |  | GERMANY       
|C. F. Erste Beteiligungsgesellschaft mbH                                     |  | GERMANY       
|Cabinet Terlier SARL                                                         |  | FRANCE        
|Cadence Capital Management LLC                                               |  | MASSACHUSETTS 
|Cadence Capital Mangement Inc.                                               |  | DELAWARE      
|Calypso S.A.                                                                 |  | FRANCE        
|Camat                                                                        |  | FRANCE        
|CAP                                                                          |  | FRANCE        
|Carene                                                                       |  | FRANCE        
|Carwood Holdings                                                             |  | DELAWARE      
|Carwood Holdings II                                                          |  | DELAWARE      
|Casas del Toqui S.A.                                                         |  | CHILE         
|CASBROKERS                                                                   |  | CHILE         
|Cathedral Limited                                                            |  | UNITED KINGDOM
|Caywood Scholl Capital Management LLC                                        |  | DELAWARE      
|CCB Zweite FraMü Beteiligungs GmbH                                           |  | GERMANY       
|CERT Zertifizierungsgesellschaft mbH                                         |  | GERMANY       
|Chicago Auto Insurance Service                                               |  | ILLINOIS      
|Chicago Insurance Company                                                    |  | ILLINOIS      
|CIC Allianz Insurance Ltd.                                                   |  | AUSTRALIA     
|City of Westminster Insurance Company Ltd.                                   |  | UNITED KINGDOM
|Claims Consultancy & Investigation Services Limited                          |  | IRELAND       
|Classic Finance BV                                                           |  | NETHERLANDS   
|Classic I Netherlands Limited                                                |  | NETHERLANDS   
|Classic III Netherlands Limited                                              |  | NETHERLANDS   
|CLB S.à.r.l.                                                                 |  | LUXEMBOURG    
|Club Marine Limited                                                          |  | AUSTRALIA     
|Codinf Services                                                              |  | FRANCE        
|Colseguros Capitalizacion                                                    |  | COLOMBIA      
|Colseguros Generales S.A.                                                    |  | COLOMBIA      
|Colseguros Vida S.A.                                                         |  | COLOMBIA      
|Colserauto                                                                   |  | COLOMBIA      
|Commercial Bank Allianz Bulgaria Ltd.                                        |  | BULGARIA      
|Commerzbank_LEBENCO_Fonds                                                    |  | GERMANY       
|Compagnie dAssurance de Protection Juridique S.A.                           |  | SWITZERLAND   
|Compagnie de Gestion et Prevoyance                                           |  | FRANCE        
|Compagnie Financière pour la Réalisation dOpérations Immobilières COFIDIM |  | FRANCE        
|Companhia de Seguros Allianz Portugal S.A.                                   |  | PORTUGAL      
|Compania Colombiana De Inversion Colseguros S.A.                             |  | COLOMBIA      
|COMPANIA DE ASISTENCIA SUDAMERICANA S.A. (CAS SA)                            |  | CHILE         
|Coparc                                                                       |  | FRANCE        
|Cornhill Insurance (Guernsey) Ltd.                                           |  | UNITED KINGDOM
|Cornhill Investment Properties (Reigate) Ltd.                                |  | UNITED KINGDOM
|Cornhill Trustee (Guernsey) Ltd.                                             |  | UNITED KINGDOM
|Cornhill Unit Trust Managers Ltd.                                            |  | UNITED KINGDOM



---

Exhibit 8.1 Fiscal year 2004





|                                                                  |  |               
|----------------------------------------------------------------- |  | --------------
|Corporate Secretaries (Jersey) Ltd                                |  | UNITED KINGDOM
|Corporate Services (Guernsey) Ltd                                 |  | UNITED KINGDOM
|Corsetec                                                          |  | BRAZIL        
|COTINCO Assessoria Empresarial Ltda                               |  | BRAZIL        
|COTINCO Beratungsgesellschaft mbH                                 |  | GERMANY       
|COTINCO Consultora Técnica                                        |  | MEXICO        
|COTINCO Consultora Técnica                                        |  | MEXICO        
|Crédit Lyonnais Capital 1                                         |  | LUXEMBOURG    
|Crédito Argentino Germánico SA                                    |  | ARGENTINA     
|Crédito Germánico S.A.                                            |  | URUGUAY       
|CreditRas Assicurazioni S.p.A.                                    |  | ITALY         
|CreditRas Vita S.p.A.                                             |  | ITALY         
|Crop Growers Corporation                                          |  | DELAWARE      
|Cros Belcher Investissements                                      |  | FRANCE        
|DAG Management and Trading Company Ltd                            |  | CAYMAN ISLANDS
|DARTA INVESTMENT FUNDS PLC                                        |  | IRELAND       
|DARTA SAVING LIFE ASSURANCE LTD.                                  |  | IRELAND       
|DB Cayman                                                         |  | NEW YORK      
|dbi DGF Bond                                                      |  | GERMANY       
|dbi DGF Dresdner Grund Fonds                                      |  | GERMANY       
|DBI Insurance Company Ltd.                                        |  | UNITED KINGDOM
|DBI_HK1_827_Fonds                                                 |  | GERMANY       
|dbi-Fonds AKAR                                                    |  | GERMANY       
|dbi-Fonds Ammerland                                               |  | GERMANY       
|dbi-Fonds BAG                                                     |  | GERMANY       
|dbi-Fonds DAV                                                     |  | GERMANY       
|dbi-Fonds DBLA                                                    |  | GERMANY       
|dbi-Fonds DF                                                      |  | GERMANY       
|dbi-Fonds MAXIMILIAN                                              |  | GERMANY       
|dbi-Fonds Ostfriesland                                            |  | GERMANY       
|dbi-Fonds WE                                                      |  | GERMANY       
|DDS Dresdner Direktservice GmbH                                   |  | GERMANY       
|DEGI Deutsche Gesellschaft für Immobilienfonds mbH                |  | GERMANY       
|DEGI Schweden AB                                                  |  | SWEDEN        
|Delaware Valley Financial Services                                |  | DELAWARE      
|Delta-Vermögensverwaltungsgesellschaft mbH                        |  | GERMANY       
|Deutsche Außenhandels-Gesellschaft mbH                            |  | GERMANY       
|Deutsche Lebensversicherungs-AG                                   |  | GERMANY       
|DEUTSCHER INVESTMENT-TRUST Gesellschaft für Wertpapieranlagen mbH |  | GERMANY       
|DFV Deutsche Fondsund Vorsorgeberatungs GmbH                     |  | GERMANY       
|Dieznet Comercio Eloctrónico                                      |  | SPAIN         
|Dimensione S.R.L                                                  |  | ITALY         
|Disko-Flug Vermietungsgesellschaft mbH i. L.                      |  | GERMANY       
|DIT-FONDS ALSI                                                    |  | GERMANY       
|DIT-Fonds APAV                                                    |  | GERMANY       
|DIT-FONDS EEE                                                     |  | GERMANY       
|DIT-FONDS PV-RD                                                   |  | GERMANY       
|DK Capital Advisory Services (India) Private Ltd                  |  | INDIA         
|DKNA Phoenix LLC                                                  |  | DELAWARE      



---

Exhibit 8.1 Fiscal year 2004





|                                                                                    |  |                               
|----------------------------------------------------------------------------------- |  | ------------------------------
|DMC Dresdner Management Consult GmbH                                                |  | GERMANY                       
|DMC Dresdner Management Consult South East Asia Pte Ltd                             |  | SINGAPORE                     
|DOF                                                                                 |  | FRANCE                        
|Domestic Insurance Services Ltd                                                     |  | UNITED KINGDOM                
|Donator Beteiligungsverwaltung GmbH                                                 |  | GERMANY                       
|DORANA Dreiundvierzigste Verwaltungsgesellschaft mbH                                |  | GERMANY                       
|DR Gesellschaft für Diagnostik und Rehabilitation mbH                               |  | GERMANY                       
|Dr. Dr. Heissmann GmbH Unternehmensberatung für Versorgung & Vergütung              |  | GERMANY                       
|DreCan Holding Ltd                                                                  |  | CANADA                        
|Dreiunddreißigste DRESIB Beteiligungs-Gesellschaft mbH                              |  | GERMANY                       
|Dreiundzwanzigste DRESIB Beteiligungs-Gesellschaft mbH                              |  | GERMANY                       
|Dreizehnte FraMü Beteiligungs GmbH                                                  |  | GERMANY                       
|Dreizehnte SIB Beteiligungs-Aktiengesellschaft                                      |  | GERMANY                       
|Dresdner Advisors LLC                                                               |  | DELWARE                       
|Dresdner Asset Management Brasil S/A Distribuidora de Titulos é Valores Mobiliários |  | BRAZIL                        
|Dresdner Asset Management Ltd                                                       |  | SINGAPORE                     
|Dresdner Bank (Hungaria) Rt.                                                        |  | HUNGARY                       
|Dresdner Bank (Schweiz) AG                                                          |  | SWITZERLAND                   
|Dresdner Bank AG                                                                    |  | GERMANY                       
|Dresdner Bank Berlin Immobilien-Service GmbH                                        |  | GERMANY                       
|Dresdner Bank Brasil S.A. Corretora de Cambio                                       |  | BRAZIL                        
|Dresdner Bank Brasil SA Banco Múltiplo                                              |  | BRAZIL                        
|Dresdner Bank Croatia dd                                                            |  | CROATIA (local name: Hrvatska)
|Dresdner Bank Gestions France                                                       |  | FRANCE                        
|Dresdner Bank Lateinamerika AG                                                      |  | GERMANY                       
|Dresdner Bank Luxembourg S.A.                                                       |  | LUXEMBOURG                    
|Dresdner Bank Polska S.A.                                                           |  | POLAND                        
|Dresdner Bank ZAO                                                                   |  | RUSSIAN FEDERATION            
|Dresdner Brasil Representacoés Ltda                                                 |  | BRAZIL                        
|Dresdner Brasil Servicos Ltda                                                       |  | BRAZIL                        
|Dresdner Brazil Finance Ltd                                                         |  | CAYMAN ISLANDS                
|Dresdner Capital LLC I                                                              |  | DELAWARE                      
|Dresdner Capital LLC II                                                             |  | DELAWARE                      
|Dresdner Capital LLC III                                                            |  | DELAWARE                      
|Dresdner Capital LLC IV                                                             |  | DELAWARE                      
|Dresdner Capital LLC V                                                              |  | DELAWARE                      
|Dresdner Capital LLC VI Wilmington/Delaware                                         |  | DELAWARE                      
|Dresdner Capital LLC VII                                                            |  | DELAWARE                      
|Dresdner Corporate Finance GmbH                                                     |  | GERMANY                       
|Dresdner Finance BV                                                                 |  | NETHERLANDS                   
|Dresdner Finanzberatungsgesellschaft mbH                                            |  | GERMANY                       
|Dresdner Finanziaria SpA                                                            |  | ITALY                         
|Dresdner Fund Administration (Cayman) Ltd                                           |  | CAYMAN ISLANDS                
|Dresdner Gazdasági Szolgáltató Kft.                                                 |  | HUNGARY                       
|Dresdner Gestion Privée                                                             |  | FRANCE                        
|Dresdner Global Asset Management Beteiligungs-GmbH                                  |  | GERMANY                       
|Dresdner Guatemala Representación                                                   |  | GUATEMALA                     
|Dresdner International Management Services Ltd                                      |  | IRELAND                       



---

Exhibit 8.1 Fiscal year 2004





|                                                                  |  |               
|----------------------------------------------------------------- |  | --------------
|Dresdner Investments (UK) Ltd                                     |  | UNITED KINGDOM
|Dresdner Kleinwort Benson General Life Sciences LP                |  | NEW YORK      
|Dresdner Kleinwort Benson North America Inc                       |  | DELAWARE      
|Dresdner Kleinwort Benson Private Equity Partner LP               |  | NEW YORK      
|Dresdner Kleinwort Benson Services (Guernsey) Ltd                 |  | UNITED KINGDOM
|Dresdner Kleinwort Benson Services EURL                           |  | FRANCE        
|Dresdner Kleinwort Capital (USA) Inc                              |  | NEW YORK      
|Dresdner Kleinwort Capital 1 Limited Partnership                  |  | NEW YORK      
|Dresdner Kleinwort Capital 1 LLC                                  |  | UNITED KINGDOM
|Dresdner Kleinwort Capital 2001 LLC                               |  | DELAWARE      
|Dresdner Kleinwort Capital Advisory services Pte Ltd              |  | SINGAPORE     
|Dresdner Kleinwort Capital Asia Ltd                               |  | HONG KONG     
|Dresdner Kleinwort Capital Beratungs GmbH                         |  | GERMANY       
|Dresdner Kleinwort Capital C&EE LP Ltd.                           |  | CAYMAN ISLANDS
|Dresdner Kleinwort Capital Central & Eastern Europe GP Ltd        |  | DELAWARE      
|Dresdner Kleinwort Capital Investment Company Ltd                 |  | UNITED KINGDOM
|Dresdner Kleinwort Capital Investment Trust Ltd                   |  | UNITED KINGDOM
|Dresdner Kleinwort Capital Italia Beteiligungsverwaltung GmbH     |  | GERMANY       
|Dresdner Kleinwort Capital Jersey Ltd                             |  | UNITED KINGDOM
|Dresdner Kleinwort Capital Life Science Managers L.P.             |  | DELAWARE      
|Dresdner Kleinwort Capital LLC                                    |  | NEW YORK      
|Dresdner Kleinwort Capital Partners 2001 Limited Partnership      |  | DELAWARE      
|Dresdner Kleinwort Capital UK Ltd                                 |  | UNITED KINGDOM
|Dresdner Kleinwort Capital Ventures Management Ltd                |  | UNITED KINGDOM
|Dresdner Kleinwort Capital Verwaltungs GmbH                       |  | GERMANY       
|Dresdner Kleinwort Holdings Inc                                   |  | NEW YORK      
|Dresdner Kleinwort Wasserstein (Argentina) SA                     |  | BRAZIL        
|Dresdner Kleinwort Wasserstein (Canada) Ltd                       |  | CANADA        
|Dresdner Kleinwort Wasserstein (China) Ltd                        |  | HONG KONG     
|Dresdner Kleinwort Wasserstein (DRC) Ltd                          |  | UNITED KINGDOM
|Dresdner Kleinwort Wasserstein (Hong Kong) Ltd                    |  | HONG KONG     
|Dresdner Kleinwort Wasserstein (Japan) Limited                    |  | HONG KONG     
|Dresdner Kleinwort Wasserstein (LBDP) Holdings Ltd                |  | UNITED KINGDOM
|Dresdner Kleinwort Wasserstein (LBDP) Ltd                         |  | UNITED KINGDOM
|Dresdner Kleinwort Wasserstein (Nominees Pte Lt)d                 |  | SINGAPORE     
|Dresdner Kleinwort Wasserstein (Nominees) Pte. Ltd.               |  | SINGAPORE     
|Dresdner Kleinwort Wasserstein (Services) Inc                     |  | PANAMA        
|Dresdner Kleinwort Wasserstein (South East Asia) Ltd.             |  | SINGAPORE     
|Dresdner Kleinwort Wasserstein Advisory Services (Thailand) Ltd   |  | THAILAND      
|Dresdner Kleinwort Wasserstein Asesorias y Inversiones Chile Ltda |  | CHILE         
|Dresdner Kleinwort Wasserstein Australia (Securitisation) Pty Ltd |  | AUSTRALIA     
|Dresdner Kleinwort Wasserstein Australia Ltd                      |  | AUSTRALIA     
|Dresdner Kleinwort Wasserstein Beteiligungs-Gesellschaft mbH      |  | GERMANY       
|Dresdner Kleinwort Wasserstein Derivative Investments Limited     |  | UNITED KINGDOM
|Dresdner Kleinwort Wasserstein do Brasil s/c Ltda                 |  | BRAZIL        
|Dresdner Kleinwort Wasserstein Equipment LLC                      |  | DELAWARE      
|Dresdner Kleinwort Wasserstein Europe Ltd                         |  | UNITED KINGDOM
|Dresdner Kleinwort Wasserstein Finance BV                         |  | NETHERLANDS   
|Dresdner Kleinwort Wasserstein Finance EURL                       |  | FRANCE        
|Dresdner Kleinwort Wasserstein Finance Inc.                       |  | NEW YORK      



---

Exhibit 8.1 Fiscal year 2004





|                                                                  |  |                   
|----------------------------------------------------------------- |  | ------------------
|Dresdner Kleinwort Wasserstein France SCA                         |  | FRANCE            
|Dresdner Kleinwort Wasserstein Grantchester Securities Inc.       |  | DELAWARE          
|Dresdner Kleinwort Wasserstein Group Inc                          |  | DELAWARE          
|Dresdner Kleinwort Wasserstein Group Ltd                          |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Inc.                               |  | DELAWARE          
|Dresdner Kleinwort Wasserstein Leasing December (1) Ltd           |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing December (2) Ltd           |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing December (3) Ltd           |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing December (4) Ltd           |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing December (5) Ltd           |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing December (6) Ltd           |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing December 14 Limited        |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing Inc                        |  | DELAWARE          
|Dresdner Kleinwort Wasserstein Leasing International Ltd          |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing June (1) Ltd               |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing June (2) Ltd               |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing June (3) Ltd               |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing Ltd                        |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing March (1) Ltd              |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing March (2) Ltd              |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing March (3) Ltd              |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing September (1) Ltd          |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing September (3) Ltd          |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing September (4) Ltd          |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Leasing September (5) Limited      |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein LLC                                |  | RUSSIAN FEDERATION
|Dresdner Kleinwort Wasserstein Ltd                                |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Metals Ltd                         |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Online Ventures Ltd                |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Overseas Employees Ltd             |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Overseas Holdings plc              |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Partnership 2001 LP                |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Partnership 2001 Ltd               |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Property Management & Services Ltd |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Research (Malaysia) SDN BHD        |  | MALAYSIA          
|Dresdner Kleinwort Wasserstein Research GmbH                      |  | GERMANY           
|Dresdner Kleinwort Wasserstein Securities (Asia) Holdings Ltd.    |  | HONG KONG         
|Dresdner Kleinwort Wasserstein Securities (Asia) Ltd              |  | HONG KONG         
|Dresdner Kleinwort Wasserstein Securities (Australia) Pty Ltd     |  | AUSTRALIA         
|Dresdner Kleinwort Wasserstein Securities (India) Private Ltd     |  | INDIA             
|Dresdner Kleinwort Wasserstein Securities France SA               |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Securities LLC                     |  | DELAWARE          
|Dresdner Kleinwort Wasserstein Securities Ltd                     |  | UNITED KINGDOM    
|Dresdner Kleinwort Wasserstein Services LLC                       |  | DELAWARE          
|Dresdner Kleinwort Wasserstein Servicios y Asesorias Ltda         |  | COTE DIVOIRE     
|Dresdner Lateinamerika Financial Advisors LLC                     |  | FLORIDA           
|Dresdner Lateinamerika S.A. Corredores de Bolsa                   |  | CHILE             
|Dresdner Management Institut GmbH                                 |  | GERMANY           
|Dresdner Pension Fund Holdings LLC                                |  | DELAWARE          



---

Exhibit 8.1 Fiscal year 2004



|                                                                         |  |               
|------------------------------------------------------------------------ |  | --------------
|Dresdner Polska Sp.z.o.o.                                                |  | POLAND        
|Dresdner Private Placement GmbH                                          |  | GERMANY       
|Dresdner Private Placement GmbH & Co. SREI KG                            |  | GERMANY       
|Dresdner RCM Finances                                                    |  | FRANCE        
|Dresdner RCM Gestion                                                     |  | FRANCE        
|Dresdner RCM Global Investors (Jersey) Australia                         |  | AUSTRALIA     
|Dresdner RCM Global Investors (Jersey) Hong Kong                         |  | HONG KONG     
|Dresdner RCM Global Investors (Jersey) Ltd                               |  | UNITED KINGDOM
|Dresdner RCM Global Investors (Jersey) Taiwan                            |  | TAIWAN        
|Dresdner RCM Global Investors Commingled Funds LLC                       |  | CALIFORNIA    
|Dresdner RCM Global Investors Pacific Ltd                                |  | BERMUDA       
|Dresdner RCM Nominee Services Ltd                                        |  | UNITED KINGDOM
|Dresdner RCM Strategic Holdings (HK) Ltd                                 |  | HONG KONG     
|Dresdner RCM Trust Company                                               |  | CALIFORNIA    
|Dresdner Securitized Products GmbH                                       |  | GERMANY       
|Dresdner Symphonica Management S.A.                                      |  | LUXEMBOURG    
|Dresdner U.S. Finance Inc                                                |  | DELAWARE      
|Dresdner UK Investments 2 B.V.                                           |  | NETHERLANDS   
|Dresdner UK Investments N.V.                                             |  | NETHERLANDS   
|Dresdner Versicherung GmbH                                               |  | GERMANY       
|Dresdner Wirtschaftsdienstleistungsgesellschaft mit beschränkter Haftung |  | HUNGARY       
|dresdnerbank investment management Kapitalanlagegesellschaft mbH         |  | GERMANY       
|DresdnerGrund-Fonds                                                      |  | GERMANY       
|Dritte SIB Beteiligungs-Aktiengesellschaft                               |  | GERMANY       
|DrKW Delaware Funding Inc.                                               |  | DELAWARE      
|DRKW EIV Manager                                                         |  | DELAWARE      
|DrKW Equipment Finance Ltd                                               |  | UNITED KINGDOM
|DrKW Finance LLC                                                         |  | DELAWARE      
|DrKW Funding Inc.                                                        |  | DELAWARE      
|DrKW Funding LLC                                                         |  | DELAWARE      
|DrKW Holdings                                                            |  | WILMINGTON    
|DrKW Holdings II                                                         |  | WILMINGTON    
|DrKW Holdings LLC                                                        |  | WILMINGTON    
|DrKW Pfandbriefe Investments                                             |  | DELAWARE      
|DrKW Services (Guernsey) Ltd.                                            |  | UNITED KINGDOM
|DrKW Standby Nominees Ltd                                                |  | UNITED KINGDOM
|egemis GmbH                                                              |  | GERMANY       
|Einunddreißigste DRESIB Beteiligungs-Gesellschaft mbH                    |  | GERMANY       
|Elco Leasing Ltd                                                         |  | UNITED KINGDOM
|ELF Technologies Limited                                                 |  | IRELAND       
|ELVIA Assistance GmbH                                                    |  | AUSTRIA       
|ELVIA Assistance Kft. (Ltd.)                                             |  | HUNGARY       
|ELVIA Assistance s.r.o.                                                  |  | CZECH REPUBLIC
|ELVIA Reiseversicherungs-Gesellschaft AG                                 |  | SWITZERLAND   
|ELVIA S.p.z.o.o.                                                         |  | POLAND        
|ELVIA Service S.r.l.                                                     |  | ITALY         
|ELVIA Travel Insurance International N.V.                                |  | NETHERLANDS   
|Elviaseg S.A.                                                            |  | SPAIN         



---

Exhibit 8.1 Fiscal year 2004



|                                                                   |  |               
|------------------------------------------------------------------ |  | --------------
|ELVIASSIST Servicos de Assistencia 24 Horas LDA                    |  | PORTUGAL      
|Empresa de Inversiones S.A.                                        |  | PERU          
|Energy Insurance Company Ltd.                                      |  | BULGARIA      
|EP Euro-Projektentwicklungs GmbH & Co. Objekt 1 KG                 |  | GERMANY       
|EP Euro-Projektentwicklungs GmbH & Co. Objekt 1KG                  |  | GERMANY       
|EP Euro-Projektentwicklungs GmbH & Co. Objekt Am Markt Chemnitz KG |  | GERMANY       
|EP Euro-Projektentwicklungs GmbH & Co. Objekt Köln-Porz KG         |  | GERMANY       
|EP Euro-Projektentwicklungs-Verwaltungs GmbH                       |  | GERMANY       
|Ernst Vigener GmbH & Co. KG                                        |  | GERMANY       
|Erobon Ltd                                                         |  | UNITED KINGDOM
|Erste DRESIB Beteiligungs-Gesellschaft mbH                         |  | GERMANY       
|Erste FraMü Beteiligungs GmbH                                      |  | GERMANY       
|Établissement Nomeco SA                                            |  | FRANCE        
|ETI First Source Limited                                           |  | UNITED KINGDOM
|ETI Australia Pty Ltd.                                             |  | AUSTRALIA     
|ETI International Limited                                          |  | UNITED KINGDOM
|ETI Property Limited                                               |  | UNITED KINGDOM
|ETI Sales Limited                                                  |  | UNITED KINGDOM
|Etoile Foncière et Immobilière                                     |  | FRANCE        
|EulerSFAC Recouvrement                                            |  | FRANCE        
|Euler & Hermes Germany GmbH                                        |  | GERMANY       
|Euler & Hermes International Centre Limited                        |  | UNITED KINGDOM
|Euler Agent Limited                                                |  | UNITED KINGDOM
|Euler American Credit Indemnity Mexico                             |  | MEXICO        
|Euler Credito y Caution                                            |  | SPAIN         
|Euler do Brasil Seguros Exportacao                                 |  | BRAZIL        
|Euler Gestion                                                      |  | FRANCE        
|Euler Hermes                                                       |  | POLAND        
|Euler Hermes ACI Holding                                           |  | NEW YORK      
|Euler Hermes ACI Inc.                                              |  | MARYLAND      
|Euler Hermes ACI Services LLP                                      |  | MARYLAND      
|Euler Hermes Beteiligungen GmbH                                    |  | GERMANY       
|Euler Hermes Cashflow Solutions Limited                            |  | UNITED KINGDOM
|Euler Hermes Cescob                                                |  | CZECH REPUBLIC
|Euler Hermes Cescob Service s.r.o.                                 |  | CZECH REPUBLIC
|Euler Hermes Collections UK Limited                                |  | UNITED KINGDOM
|Euler Hermes Crédit Insurance Belgium S.A. (N.V.)                  |  | BELGIUM       
|Euler Hermes Credit Services (JP) Ltd.                             |  | JAPAN         
|Euler Hermes Credit Underwriters Hong Kong Ltd.                    |  | CHINA         
|EULER HERMES EMPORIKI SA                                           |  | GREECE        
|EULER HERMES EMPORIKI Services Ltd.                                |  | GREECE        
|Euler Hermes Forderungsmanagement GmbH                             |  | GERMANY       
|Euler Hermes Gesellschaft für Finanzdienstleistungen mbH           |  | GERMANY       
|Euler Hermes Gesellschaft für Informationsdienstleistungen mbH     |  | GERMANY       
|Euler Hermes Guarantee plc.                                        |  | UNITED KINGDOM
|Euler Hermes Holdings UK plc                                       |  | UNITED KINGDOM
|Euler Hermes Interborg N.V.                                        |  | NETHERLANDS   
|Euler Hermes International Ltd.                                    |  | UNITED KINGDOM
|Euler Hermes Kredietverzekering NV                                 |  | NETHERLANDS   



---

Exhibit 8.1 Fiscal year 2004



|                                              |  |                           
|--------------------------------------------- |  | --------------------------
|Euler Hermes Kreditförsäkring Norden AB       |  | SWEDEN                    
|Euler Hermes Kreditversicherungs-AG           |  | GERMANY                   
|Euler Hermes Kreditverzekering NV             |  | NETHERLANDS               
|Euler Hermes Magyar Hitelbiztositó Rt.        |  | HUNGARY                   
|Euler Hermes Magyar Követeleskezelö Kft.      |  | HUNGARY                   
|Euler Hermes Rating GmbH                      |  | GERMANY                   
|Euler Hermes Risk Management GmbH & Co. KG    |  | GERMANY                   
|Euler Hermes Risk Management Verwaltungs-GmbH |  | GERMANY                   
|Euler Hermes Risk Services UK Limited         |  | UNITED KINGDOM            
|Euler Hermes S.A.                             |  | FRANCE                    
|Euler Hermes Seguros de Crédito S.A.          |  | BRAZIL                    
|Euler Hermes Seguros de Crédito S.A.          |  | MEXICO                    
|Euler Hermes Services (HK) Limited            |  | HONG KONG                 
|Euler Hermes Services AG                      |  | SWITZERLAND               
|Euler Hermes Services Belgium S.A.            |  | BELGIUM                   
|Euler Hermes Servicii Financiare              |  | ROMANIA                   
|Euler Hermes Servicos Ltda                    |  | BRAZIL                    
|Euler Hermes Servicos SL                      |  | SPAIN                     
|Euler Hermes Servis s.r.o.                    |  | SLOVAKIA (Slovak Republic)
|Euler Hermes SFAC Crédit                      |  | FRANCE                    
|Euler Hermes SFAC S.A.                        |  | FRANCE                    
|Euler Hermes SIAC S.p.A.                      |  | ITALY                     
|Euler Hermes SIAC Services spa.               |  | ITALY                     
|Euler Hermes UK plc                           |  | UNITED KINGDOM            
|Euler Hermes Versicherungsbeteiligungen GmbH  |  | GERMANY                   
|Euler Hermes Zarzadzanie Ryzkiem Sp. z o.o.   |  | POLAND                    
|Euler Incorporation Inc.                      |  | MARYLAND                  
|Euler Re                                      |  | LUXEMBOURG                
|Euler Services                                |  | FRANCE                    
|Euler SFAC Asset Management                   |  | FRANCE                    
|Euler Tech                                    |  | FRANCE                    
|Euler UK Group Services Limited               |  | UNITED KINGDOM            
|Eurl 20/22 Le Peletier                        |  | FRANCE                    
|EURL 2D3                                      |  | FRANCE                    
|EURL B Anat                                   |  | FRANCE                    
|EURL BTKM                                     |  | FRANCE                    
|EURL COLLEGE CLERC                            |  | FRANCE                    
|EURL DDV                                      |  | FRANCE                    
|EURL La Peyrade                               |  | FRANCE                    
|EURL Livi Développement                       |  | FRANCE                    
|EURL PL                                       |  | FRANCE                    
|EURL RM ARROUX                                |  | FRANCE                    
|EURL ROCHER STE HELENE                        |  | FRANCE                    
|EURL SARL du Rocher St. Hélène                |  | FRANCE                    
|EURL SARL Pascale                             |  | FRANCE                    
|Euro American Arbitrage Inc                   |  | ILLINOIS                  
|Euro Drukker Beheer B.V.                      |  | NETHERLANDS               
|EURO GESTION                                  |  | FRANCE                    
|Europe Reinsurance SA                         |  | LUXEMBOURG                
|European Credit Underwriters Limited          |  | UNITED KINGDOM            



---

Exhibit 8.1 Fiscal year 2004



|                                                    |  |                   
|--------------------------------------------------- |  | ------------------
|European Properties Inc Ltd                         |  | UNITED KINGDOM    
|European Venture Leasing Ltd                        |  | UNITED KINGDOM    
|European Venture Partners (General Partner) Ltd     |  | UNITED KINGDOM    
|European Venture Partners (Israel) Ltd              |  | ISRAEL            
|European Venture Partners (Sweden) AB               |  | SWEDEN            
|European Venture Partners Ltd                       |  | UNITED KINGDOM    
|EuroShip Assekuradeurgesellschaft mbH & Co. KG      |  | GERMANY           
|Eurotax Garantie AG                                 |  | SWITZERLAND       
|Eurovida S.A. Compañía de Seguros y Reaseguros      |  | SPAIN             
|Eustache                                            |  | FRANCE            
|EWA Life                                            |  | LUXEMBOURG        
|F.C.C. LOGIFIX                                      |  | FRANCE            
|FAF Inc.                                            |  | CAYMAN ISLANDS    
|FAI Allianz Ltd                                     |  | AUSTRALIA         
|Failure & Risk Consulting GmbH                      |  | GERMANY           
|Felix Ltd                                           |  | UNITED KINGDOM    
|Fenchurch Fiduciaries Ltd                           |  | UNITED KINGDOM    
|Fenchurch Finance Ltd                               |  | UNITED KINGDOM    
|Fenchurch International Holdings Ltd                |  | UNITED KINGDOM    
|Fenchurch Nominees (Singapore) Pte Ltd              |  | SINGAPORE         
|Fenchurch Nominees Ltd                              |  | UNITED KINGDOM    
|Fenchurch Nominees Ltd                              |  | UNITED KINGDOM    
|Fenchurch Properties Ltd                            |  | UNITED KINGDOM    
|Fenchurch Trust Ltd                                 |  | UNITED KINGDOM    
|Fendrake Ltd                                        |  | UNITED KINGDOM    
|Fenix Directo Compania de Seguros y Reaseguros S.A. |  | SPAIN             
|FFIC of Bermuda                                     |  | BERMUDA           
|Financière et Foncière Européenne                   |  | FRANCE            
|Financière Galilée                                  |  | FRANCE            
|Financière Ile de France                            |  | FRANCE            
|Finanztrust AG                                      |  | GERMANY           
|Finnish Credit Insurance Company Ltd.               |  | FINLAND           
|Firemans Fund Agribusiness Inc.                    |  | MONTANA           
|Firemans Fund Indemnity Corporation                |  | NEW JERSEY        
|Firemans Fund Insurance Company                    |  | CALIFORNIA        
|Firemans Fund Insurance Company of Georgia         |  | GEORGIA           
|Firemans Fund Insurance Company of Hawaii          |  | HAWAII            
|Firemans Fund Insurance Company of Louisiana       |  | LOUISANA          
|Firemans Fund Insurance Company of Missouri        |  | MISSOURI          
|Firemans Fund Insurance Company of Nebraska        |  | NEBRASKA          
|Firemans Fund Insurance Company of Ohio            |  | OHIO              
|Firemans Fund Insurance Company of Texas           |  | TEXAS             
|Firemans Fund Insurance Company of Wisconsin       |  | WISCONSIN         
|First Building Management Company Ltd.              |  | KOREA, REPUBLIC OF
|First Call Direct Limited                           |  | IRELAND           
|First European DELTA Beteiligungs GmbH              |  | GERMANY           
|First European OMEGA Beteiligungs GmbH              |  | GERMANY           
|First Rate Direct Limited                           |  | UNITED KINGDOM    
|Fitrust                                             |  | SWITZERLAND       
|Foncias Iart S.A.                                   |  | BURKINA FASO      



---

Exhibit 8.1 Fiscal year 2004



|                                                                                      |  |               
|------------------------------------------------------------------------------------- |  | --------------
|Foncias vie S.A.                                                                      |  | BURKINA FASO  
|Fondsdepotbank GmbH                                                                   |  | GERMANY       
|Foreign Holdings Ltd                                                                  |  | UNITED KINGDOM
|Four Seasons Health Care Jersey                                                       |  | UNITED KINGDOM
|Four Seasons Health Care Ltd.                                                         |  | UNITED KINGDOM
|FRAGONARD ASSURANCE                                                                   |  | FRANCE        
|FRANCE SECOURS INTERNATIONAL ASSISTANCE S.A.                                          |  | FRANCE        
|Frank Nominees Ltd                                                                    |  | UNITED KINGDOM
|Frankfurter Versicherungs-AG                                                          |  | GERMANY       
|Freesun Pty Ltd                                                                       |  | AUSTRALIA     
|FS2A S.A.                                                                             |  | FRANCE        
|Fünfte DRESIB Beteiligungs-Gesellschaft mbH                                           |  | GERMANY       
|Fünfzehnte DRESIB Beteiligungs-Gesellschaft mbH                                       |  | GERMANY       
|Fünfzehnte FraMü Beteiligungs GmbH                                                    |  | GERMANY       
|G.I.T. Uniphénix                                                                      |  | FRANCE        
|Gaipare Diffusion                                                                     |  | FRANCE        
|Gallus Bau-Gesellschaft mbH                                                           |  | GERMANY       
|Gamma-Vermögensverwaltungsgesellschaft mbH                                            |  | GERMANY       
|Gangrey Ltd.                                                                          |  | UNITED KINGDOM
|Gateway HomeCare Limited                                                              |  | ILLINOIS      
|GAVD Gesellschaft für Altersvorsorge-Dienstleistungen mbH                             |  | GERMANY       
|GbR Berlin Pariser Platz 5a/6                                                         |  | GERMANY       
|GE.SI Gestione Sistemi Informativi S.p.A                                              |  | ITALY         
|Générale Viagère                                                                      |  | FRANCE        
|Generation Vie                                                                        |  | FRANCE        
|GENIALLOYD S.p.A.                                                                     |  | ITALY         
|GENUJO Beteiligungs-GmbH                                                              |  | GERMANY       
|GENUJO Sechste Beteiligungs GmbH                                                      |  | GERMANY       
|GENUJO Vierte Beteiligungs GmbH                                                       |  | GERMANY       
|GERUSIA Grundstücks-Verwaltungsgesellschaft mbH & Co. KG                              |  | GERMANY       
|Gesellschaft für Vorsorgeberatung                                                     |  | SWITZERLAND   
|Gestiass S.r.l.                                                                       |  | ITALY         
|GESTION DE TELESECURITE ET DE SERVICES GTS S.A.                                     |  | FRANCE        
|GIE Groupe Dresdner KB France                                                         |  | FRANCE        
|GIE Placements dAssurances                                                           |  | FRANCE        
|GIM Grundwert Immobilien Management GmbH                                              |  | GERMANY       
|GKB (General Partner) Limited                                                         |  | UNITED KINGDOM
|Golden Gate Reinsurance Company Limited                                               |  | BERMUDA       
|Götz GmbH & Co.                                                                       |  | GERMANY       
|Grafton Properties Limited                                                            |  | IRELAND       
|Grosvenor Kleinwort Benson Residential Ltd.                                           |  | UNITED KINGDOM
|Groupe Mondial Assistance                                                             |  | SWITZERLAND   
|Groupe Saint Thomas                                                                   |  | FRANCE        
|Growler Trading SA                                                                    |  | PANAMA        
|Grundstücksgesellschaft der Vereinten Versicherungen mbH                              |  | GERMANY       
|Grundstücksgesellschaft der Vereinten Versicherungen mbH & Co. Besitzund Betriebs KG |  | GERMANY       
|Grundstücks-Gesellschaft mbH                                                          |  | GERMANY       
|Guernsey Nominees Ltd                                                                 |  | UNITED KINGDOM
|GV DEVELOPPEMENT                                                                      |  | FRANCE        



---

Exhibit 8.1 Fiscal year 2004



|                                                                                  |  |                   
|--------------------------------------------------------------------------------- |  | ------------------
|GVP Grundwert Verwaltungsund Projektentwicklungs GmbH                            |  | GERMANY           
|GVT Grundbesitz Verwaltung und Treuhand GmbH                                      |  | GERMANY           
|Hamburger Handelsund Verwaltungs-Gesellschaft mbH                                |  | GERMANY           
|Hamudi S.A.                                                                       |  | FRANCE            
|HANSA-Bau-Gesellschaft mbH                                                        |  | GERMANY           
|Hardy Beteiligungs-Gesellschaft mbH                                               |  | GERMANY           
|Hauteville Insurance Company Limited                                              |  | UNITED KINGDOM    
|Havelaar et Van Stolk B.V.                                                        |  | NETHERLANDS       
|HEISSMANN CONSULTANTS GMBH European Partner of Mellon HR&IS                       |  | AUSTRIA           
|HEISSMANN CONSULTANTS INTERNATIONAL GMBH                                          |  | GERMANY           
|HELVIASS Verzekeringen BV                                                         |  | NETHERLANDS       
|Herakles Beteiligungs-Gesellschaft mbH                                            |  | GERMANY           
|HERMES & EULER CREDIT INSURANCE AGENCY (S) PTE LTD.                               |  | SINGAPORE         
|Hermes e-Business GmbH                                                            |  | GERMANY           
|Herradura Ltd                                                                     |  | UNITED KINGDOM    
|Hilary Nominees Ltd                                                               |  | UNITED KINGDOM    
|Hilary Street Properties Ltd                                                      |  | UNITED KINGDOM    
|Histel Beteiligungs GmbH                                                          |  | GERMANY           
|Holland Beleggingsgroep B.V.                                                      |  | NETHERLANDS       
|Holland Bewaarbedrijf B.V.                                                        |  | NETHERLANDS       
|Home Management Inc.                                                              |  | BELIZE            
|Honeywell Grundbesitzverwaltungs-GmbH & Co. Vermietungs-KG                        |  | GERMANY           
|Hungária Biztosító Rt. Szolgáltató és Ellátó Kft. (Betriebsund Versorgungs-GmbH) |  | HUNGARY           
|Hungária Biztosító Számitástechnikai Kft. (Hungária EDV-Betriebsgesellschaft mbH) |  | HUNGARY           
|Hunter Premium Funding Ltd.                                                       |  | AUSTRALIA         
|IDS GmbHAnalysis and Reporting Services                                          |  | GERMANY           
|IFS Individual Family Services AG                                                 |  | SWITZERLAND       
|Immovalor Gestion                                                                 |  | FRANCE            
|Informatica Y Servicios Financieros S.A. (Insesa)                                 |  | SPAIN             
|INI-Ventures GmbH & Co. Beteiligungs KG                                           |  | GERMANY           
|Inmobiliaria Driavena                                                             |  | VENEZUELA         
|Insolvency Risk Insurance Services Limited                                        |  | UNITED KINGDOM    
|Insolvency Risk Management Limited                                                |  | UNITED KINGDOM    
|Insurance Joint Stock Company Allianz                                           |  | RUSSIAN FEDERATION
|Intermediass S.r.l.                                                               |  | ITALY             
|International Reinsurance Company S.A.                                            |  | LUXEMBOURG        
|Interstate Fire & Casualty Company                                                |  | ILLINOIS          
|Interstate Indemnity Company                                                      |  | ILLINOIS          
|Interstate National Corporation                                                   |  | ILLINOIS          
|Interstate National Corporation of Texas                                          |  | TEXAS             
|INVCO SAS                                                                         |  | FRANCE            
|Inveresk Stockholders Ltd                                                         |  | UNITED KINGDOM    
|INVESTITORI HOLDING SPA                                                           |  | ITALY             
|INVESTITORI SGR S.p.a.                                                            |  | ITALY             
|INVESTITORI SWISS                                                                 |  | SWITZERLAND       
|ITB Immobilientreuhandgesellschaft mbH                                            |  | AUSTRIA           
|ITEB B.V.                                                                         |  | NETHERLANDS       
|JBC Ltd                                                                           |  | CAYMAN ISLANDS    



---

Exhibit 8.1 Fiscal year 2004



|                                                                 |  |                           
|---------------------------------------------------------------- |  | --------------------------
|JeffCo Management Company Inc.                                   |  | NEW JERSEY                
|Jefferson Insurance Company of N.Y.                              |  | NEW YORK                  
|Johneve Ltd.                                                     |  | UNITED KINGDOM            
|Jota-Vermögensverwaltungsgesellschaft mbH                        |  | GERMANY                   
|Kappa Holdings Ireland Limited                                   |  | IRELAND                   
|KB (C.I.) Nominees Ltd                                           |  | UNITED KINGDOM            
|KB EMF II (Guernsey) Ltd                                         |  | UNITED KINGDOM            
|KB Investment Management International                           |  | UNITED KINGDOM            
|KBEMF (GP) Ltd                                                   |  | UNITED KINGDOM            
|KBEMF II (Guernsey) Ltd                                          |  | UNITED KINGDOM            
|KBG Immobilier SA                                                |  | FRANCE                    
|KBIM (IT) Nominees Ltd                                           |  | UNITED KINGDOM            
|KBIM General Nominees Ltd                                        |  | UNITED KINGDOM            
|KBIM Standby Nominees Ltd                                        |  | UNITED KINGDOM            
|KB-LPL Holdings Inc                                              |  | NEW YORK                  
|KB-LPL Inc                                                       |  | UNITED STATES             
|KEVA spol.                                                       |  | SLOVAKIA (Slovak Republic)
|KGB Kraftwerksgesellschaft mbH                                   |  | GERMANY                   
|Kléber Lamartine                                                 |  | FRANCE                    
|Kléber Passy                                                     |  | FRANCE                    
|Kleinwort Benson (Channel Islands) Investment                    |  | UNITED KINGDOM            
|Kleinwort Benson (Channel Islands) Investment Management Limited |  | UNITED KINGDOM            
|Kleinwort Benson (Channel Islands) Ltd.                          |  | UNITED KINGDOM            
|Kleinwort Benson (Channel Islands) Trustees                      |  | UNITED KINGDOM            
|Kleinwort Benson (Geneva) Trustee SA                             |  | SWITZERLAND               
|Kleinwort Benson (Guernsey) Fund Services Ltd                    |  | UNITED KINGDOM            
|Kleinwort Benson (Guernsey) Ltd                                  |  | UNITED KINGDOM            
|Kleinwort Benson (Guernsey) Services Ltd                         |  | UNITED KINGDOM            
|Kleinwort Benson (Guernsey) Trustees Ltd                         |  | UNITED KINGDOM            
|Kleinwort Benson (Jersey) Asset Managers Ltd                     |  | UNITED KINGDOM            
|Kleinwort Benson (Jersey) Fund Managers Ltd                      |  | UNITED KINGDOM            
|Kleinwort Benson (Jersey) Services Ltd                           |  | UNITED KINGDOM            
|Kleinwort Benson (Jersey) Trustees Ltd                           |  | UNITED KINGDOM            
|Kleinwort Benson (US) Asset Managers LLC                         |  | DELAWARE                  
|Kleinwort Benson (USA) Inc.                                      |  | NEW YORK                  
|Kleinwort Benson Australia (Holdings) Ltd                        |  | AUSTRALIA                 
|Kleinwort Benson Belgium SA                                      |  | BELGIUM                   
|Kleinwort Benson Channel Islands (Holdings)                      |  | UNITED KINGDOM            
|Kleinwort Benson China Management Ltd                            |  | HONG KONG                 
|Kleinwort Benson Cross Financing Inc                             |  | NEW YORK                  
|Kleinwort Benson Cross Financing Ltd                             |  | UNITED KINGDOM            
|Kleinwort Benson Equity Partner General Partner Ltd              |  | UNITED KINGDOM            
|Kleinwort Benson Farmland Trust (Managers) Ltd                   |  | UNITED KINGDOM            
|Kleinwort Benson Financial Services Ltd                          |  | UNITED KINGDOM            
|Kleinwort Benson Financière SA i. L.                             |  | SWITZERLAND               
|Kleinwort Benson Gilts Ltd                                       |  | UNITED KINGDOM            
|Kleinwort Benson International Trust Corporation                 |  | UNITED KINGDOM            
|Kleinwort Benson International Trustees Ltd                      |  | UNITED KINGDOM            
|Kleinwort Benson Investment Holdings Australia Pty Ltd           |  | AUSTRALIA                 



---

Exhibit 8.1 Fiscal year 2004



|                                                         |  |               
|-------------------------------------------------------- |  | --------------
|Kleinwort Benson Investment Management Americas (HK) Inc |  | NEW YORK      
|Kleinwort Benson Investment Management Americas Inc      |  | NEW YORK      
|Kleinwort Benson Investment Management Holdings Ltd      |  | UNITED KINGDOM
|Kleinwort Benson Investment Management Ltd               |  | UNITED KINGDOM
|Kleinwort Benson Private Bank Limited                    |  | UNITED KINGDOM
|Kleinwort Benson Securities (Asia) Holdings Ltd          |  | HONG KONG     
|Kleinwort Benson Trustees Ltd                            |  | UNITED KINGDOM
|Kleinwort Benson Unit Trusts Ltd                         |  | UNITED KINGDOM
|Kleinwort Capital Partners General Partner 1 Ltd.        |  | UNITED KINGDOM
|Knowlfa Ltd                                              |  | UNITED KINGDOM
|KOMMATA Verwaltungsgesellschaft mbH & Co. KG             |  | GERMANY       
|KTC Kommunikationsund Trainings-Center Königstein GmbH  |  | GERMANY       
|L.A. PARTECIPAZIONI e SERVIZI                            |  | ITALY         
|LA FIN SIM S.P.A.                                        |  | ITALY         
|LA PEYRADE                                               |  | FRANCE        
|LA RURALE                                                |  | FRANCE        
|LA VITA                                                  |  | ITALY         
|Langbourn Nominees Ltd                                   |  | UNITED KINGDOM
|Langdale Nominees Ltd                                    |  | UNITED KINGDOM
|Langham Nominees Ltd                                     |  | UNITED KINGDOM
|Larose Trintaudon                                        |  | FRANCE        
|Larose Trintaudon Chile S.A.                             |  | CHILE         
|LAssicuratrice Italiana Danni                           |  | ITALY         
|LAssicuratrice Italiana Vita S.p.A.                     |  | ITALY         
|LDS                                                      |  | ITALY         
|Les Hautes Villes                                        |  | FRANCE        
|Life Agency USA of Minnesota                             |  | MINNESOTA     
|Liffey Emmerald                                          |  | UNITED KINGDOM
|Lisa Synthetic CDO                                       |  | GERMANY       
|LJ SARL                                                  |  | FRANCE        
|Lloyd Adriatico Real Estate                              |  | ITALY         
|Lloyd Adriatico S.p.A.                                   |  | ITALY         
|Local Market Fundo de Investimento Financeiro            |  | BRAZIL        
|LOGICA                                                   |  | ITALY         
|Lombardkasse AG                                          |  | GERMANY       
|London Verzekeringen N.V.                                |  | NETHERLANDS   
|LTCAmerica Holding                                       |  | MINNESOTA     
|LUFRA Beteiligungsholding AG                             |  | SWITZERLAND   
|Lufthansa Leasing GmbH & Co. Echo-Oscar KG               |  | GERMANY       
|Lufthansa Leasing GmbH & Co. Echo-Papa KG                |  | GERMANY       
|M.R. Print Management Ltd.                               |  | UNITED KINGDOM
|Madeleine SA                                             |  | FRANCE        
|Marlyna Ltd                                              |  | UNITED KINGDOM
|Martin Maurel Vie                                        |  | FRANCE        
|Mathis Assurances                                        |  | FRANCE        
|Mauritius Island                                         |  | MAURITIUS     
|McGee Insurance Co. (Bermuda) Ltd.                       |  | BERMUDA       
|Medisalud Compania Colombiana de Medicina Prepagada S.A. |  | COLOMBIA      
|MEDISPAC                                                 |  | FRANCE        
|Menza Grundstücks-Verwaltungsgesellschaft mbH            |  | GERMANY       



---

Exhibit 8.1 Fiscal year 2004



|                                                                    |  |               
|------------------------------------------------------------------- |  | --------------
|Menza Grundstücks-Verwaltungsgesellschaft mbH & Co. KG              |  | GERMANY       
|MERCOSUL                                                            |  | BRAZIL        
|MERCOSUL ASSISTANCE ARGENTINE                                       |  | ARGENTINA     
|Merkur Grundstücks-Gesellschaft mbH                                 |  | GERMANY       
|MERLAN Mobilien-Verwaltungsgesellschaft mbH & Co. Projekt Nr. 16 KG |  | GERMANY       
|META Finanz-Informationssysteme GmbH                                |  | GERMANY       
|MetallRente Pensionsfonds AG                                        |  | GERMANY       
|MetaPhysics S.A.                                                    |  | SWITZERLAND   
|Métropole                                                           |  | FRANCE        
|Midway Insurance Company of Illinois                                |  | ILLINOIS      
|MMI Worksafe (Malaysia) Sdn Bhd                                     |  | MALAYSIA      
|Moerkerke                                                           |  | BELGIUM       
|Mole Finance Inc.                                                   |  | CAYMAN ISLANDS
|Mondial Assistance Australia Holding Pty Ltd.                       |  | AUSTRALIA     
|MONDIAL ASSISTANCE B.V.                                             |  | NETHERLANDS   
|Mondial Assistance Beijing Services Co. Ltd.                        |  | CHINA         
|Mondial Assistance Deutschland GmbH                                 |  | GERMANY       
|MONDIAL ASSISTANCE FRANCE MAF S.A.                                |  | FRANCE        
|Mondial Assistance Italia S.p.A.                                    |  | ITALY         
|Mondial Assistance S.A.                                             |  | FRANCE        
|Mondial Assistance United Kingdom (MAUK) Ltd.                       |  | UNITED KINGDOM
|Monticello Insurance Co.                                            |  | DELAWARE      
|Morris (S.P.) Holdings Ltd                                          |  | UNITED KINGDOM
|MTS Accounting Services Ltd                                         |  | UNITED KINGDOM
|Münchener und Magdeburger Agrarversicherung AG                      |  | GERMANY       
|Münsterländische Bank Thie & Co.                                    |  | GERMANY       
|MVK Datenmanagement GmbH                                            |  | AUSTRIA       
|National Surety Corporation                                         |  | ILLINOIS      
|Nederland Administration B.V. i.L.                                  |  | NETHERLANDS   
|Nederland Hypotheekservice B.V.                                     |  | NETHERLANDS   
|NEM Business Services Ltd.                                          |  | UNITED KINGDOM
|NEM Insurance Ireland                                               |  | IRELAND       
|Nemian Life & Pensions S.A.                                         |  | LUXEMBOURG    
|Nereus Vermögensverwaltungsgesellschaft mbH                         |  | GERMANY       
|Neubar SA i. L.                                                     |  | SWITZERLAND   
|Neunte SIB Beteiligungs-Aktiengesellschaft                          |  | GERMANY       
|NFJ Investment Group L.P.                                           |  | TEXAS         
|NFJ Management Inc.                                                 |  | DELAWARE      
|Nicholas Applegate                                                  |  | CALIFORNIA    
|Nicholas Applegate Capital Management LLC                           |  | DELAWARE      
|Nicholas Applegate Holdings LLC                                     |  | DELAWARE      
|Nicholas Applegate Securities International                         |  | CALIFORNIA    
|Nicholas Applegate Securities LLC                                   |  | DELAWARE      
|NIXOR Grundstücks-Verwaltungsgesellschaft mbH & Co. KG              |  | GERMANY       
|Noman LTD.                                                          |  | UNITED KINGDOM
|Nona-Vermögensverwaltungsgesellschaft mbH                           |  | GERMANY       
|Norman Nominees Ltd                                                 |  | UNITED KINGDOM
|North American London Underwriters                                  |  | BERMUDA       
|Objekt Burchardplatz GmbH & Co. KG                                  |  | GERMANY       



---

Exhibit 8.1 Fiscal year 2004



|                                             |  |                 
|-------------------------------------------- |  | ----------------
|OCC Distributors LLC                         |  | DELAWARE        
|Octagon Ltd.                                 |  | CAYMAN ISLANDS  
|OLB-Beteiligungsgesellschaft mbH             |  | GERMANY         
|OLB-Immobiliendienst GmbH                    |  | GERMANY         
|OLB-Versicherungsdienst GmbH                 |  | GERMANY         
|Oldenburgische Landesbank AG                 |  | GERMANY         
|Omega Thai Investment Holding                |  | NETHERLANDS     
|Omnium Opel Händler Versicherungsdienst GmbH |  | GERMANY         
|OpCap Advisors LLC                           |  | DELAWARE        
|Opernringhof Bau  und Betriebs AG           |  | AUSTRIA         
|Oppenheimer Capital AM                       |  | DELAWARE        
|Oppenheimer Capital LLC                      |  | DELAWARE        
|Oppenheimer Group                            |  | DELAWARE        
|Orbis Business Services Ltd                  |  | UNITED KINGDOM  
|Orbis Directors (No 1) Ltd                   |  | UNITED KINGDOM  
|Orbis Directors (No 2) Ltd                   |  | UNITED KINGDOM  
|Orbis Management Ltd                         |  | UNITED KINGDOM  
|Orbis Management Ltd                         |  | UNITED KINGDOM  
|Orbis Nominees Jersey Ltd                    |  | UNITED KINGDOM  
|Orbis Pensions Trustees Ltd                  |  | UNITED KINGDOM  
|Orbis Secretaries Jersey Ltd                 |  | UNITED KINGDOM  
|Orbis SPV Management Ltd                     |  | UNITED KINGDOM  
|Orbis Tax Services Ltd                       |  | UNITED KINGDOM  
|Orbis Trustees (1997) Ltd                    |  | UNITED KINGDOM  
|Orbis Trustees Guernsey Ltd                  |  | UNITED KINGDOM  
|Orbis Trustees Jersey (1997) Ltd             |  | UNITED KINGDOM  
|Orbis Trustees Jersey Ltd                    |  | UNITED KINGDOM  
|Orbis Trustees Ltd                           |  | UNITED KINGDOM  
|Organizacion G.o.a. S.A.                     |  | PERU            
|Orpheus Vermögensverwaltungsgesellschaft mbH |  | GERMANY         
|Other US Equity Managers                     |  | DELAWARE        
|PA Advertising Agency                        |  | DELAWARE        
|PA CD Distributors                           |  | CONNETICUT      
|PA Distributors LLC                          |  | DELAWARE        
|PA Fund Management LLC                       |  | DELAWARE        
|PA Managed Accounts LLC                      |  | DELAWARE        
|PA Retail Holdings LLC                       |  | DELAWARE        
|PAC Investment Management                    |  | DELAWARE        
|Pacific Investment Management Company LLC    |  | DELAWARE        
|Pacific MMI Insurance Ltd.                   |  | PAPUA NEW GUINEA
|Pallas-Vermögensverwaltungsgesellschaft mbH  |  | GERMANY         
|PALP Ownership Structure                     |  | DELWARE         
|Parc Continental Ltd                         |  | UNITED KINGDOM  
|Parkway Insurance Company                    |  | NEW JERSEY      
|Participations Gentil                        |  | FRANCE          
|PEA Capital LLC                              |  | NEW YORK        
|Pegasus Beteiligungsgesellschaft mbH         |  | GERMANY         
|PEMSE S.A.                                   |  | SPAIN           
|Personalized Brokerage Service LLC           |  | KANSAS          
|Pet Plan Ltd.                                |  | UNITED KINGDOM  



---

Exhibit 8.1 Fiscal year 2004



|                                              |  |               
|--------------------------------------------- |  | --------------
|Peter Street Properties Ltd                   |  | UNITED KINGDOM
|Petra Capital II Ltd.                         |  | GERMANY       
|Phenix Alternative Holding                    |  | FRANCE        
|Phénix Iart                                   |  | SWITZERLAND   
|Phénix Immobilier                             |  | FRANCE        
|Phénix Kléber                                 |  | FRANCE        
|Phenix Sécurité L                             |  | FRANCE        
|Phénix Vie                                    |  | SWITZERLAND   
|Philippe II S.C.I.                            |  | LUXEMBOURG    
|PIMCO Advisors Services                       |  | DELAWARE      
|PIMCO Asia PTE Ltd.                           |  | SINGAPORE     
|PIMCO Australia Pty Ltd.                      |  | AUSTRALIA     
|Pimco Canada Corp.                            |  | CANADA        
|Pimco Canada Management Inc.                  |  | DELAWARE      
|PIMCO Equity AM                               |  | DELAWARE      
|PIMCO Equity Partners                         |  | DELAWARE      
|PIMCO Europe Limited                          |  | UNITED KINGDOM
|PIMCO Global Advisors (Ireland) Limited       |  | IRELAND       
|PIMCO Global Advisors (Resources) Limited     |  | CAYMAN ISLANDS
|PIMCO Global Advisors LLC                     |  | DELAWARE      
|PIMCO GmbH                                    |  | GERMANY       
|PIMCO Japan Ltd.                              |  | JAPAN         
|PIMCO Luxembourg SA.                          |  | LUXEMBOURG    
|PIMCO Private Client Services LLC             |  | DELAWARE      
|PIMCO Specialty Markets LLC                   |  | DELAWARE      
|PinacleUSA LLC                                |  | NEW JERSEY    
|Pinnacle USA                                  |  | MINNESOTA     
|PL Sarl                                       |  | FRANCE        
|POLYASSISTANCE & SERVICES A.E.               |  | GREECE        
|PrevindustriaFid. Prev. Imprenditori S.p.A.  |  | ITALY         
|Prevint Gestione Servizi Previdenziali S.p.A. |  | ITALY         
|Privatinvest Bank AG                          |  | AUSTRIA       
|Promotota Country                             |  | COLOMBIA      
|Pronto Lloyd srl                              |  | ITALY         
|Property Nominees (Channel Islands) Ltd       |  | UNITED KINGDOM
|Protexia France                               |  | FRANCE        
|PT Asuransi Allianz Life Indonesia p.l.c.     |  | INDONESIA     
|PT Asuransi Allianz Utama Indonesia Ltd.      |  | INDONESIA     
|PTE Allianz Polska SA                         |  | POLAND        
|Qualis                                        |  | FRANCE        
|Quinta-Vermögensverwaltungsgesellschaft mbH   |  | GERMANY       
|Quintet Properties Ltd.                       |  | IRELAND       
|R. B. Nominees Ltd                            |  | UNITED KINGDOM
|Radian Inc.                                   |  | CAYMAN ISLANDS
|RAS ALTERNATIVE INVESTMENTS SGR S.p.A.        |  | ITALY         
|RAS Asset Management SGR S.p.A.               |  | ITALY         
|RAS IMMOBILIARE SRL                           |  | ITALY         
|Ras International N.V.                        |  | NETHERLANDS   
|RAS Tutela Giudiziaria S.p.A.                 |  | ITALY         
|Rasbank (Swiss) S.A.                          |  | SWITZERLAND   



---

Exhibit 8.1 Fiscal year 2004



|                                                   |  |                   
|-------------------------------------------------- |  | ------------------
|Rasbank S.p.A.                                     |  | ITALY             
|Rasfin Società di Intermediazione Mobiliare S.p.A. |  | ITALY             
|RASSERVICE s.c.p.a.                                |  | ITALY             
|RB Fiduciaria SpA                                  |  | ITALY             
|RB Vita S.p.A.                                     |  | ITALY             
|RC Verwaltungs  und Beteiligungsgesellschaft mbH  |  | GERMANY           
|RCM (UK). Ltd.                                     |  | UNITED KINGDOM    
|RCM Capital Management LLC                         |  | CALIFORNIA        
|RCM Distiributors LLC                              |  | CALIFORNIA        
|RCM US Holdings LLC                                |  | CALIFORNIA        
|Real Faubourg Haussmann SAS                        |  | FRANCE            
|Real Fr Haussmann SAS                              |  | FRANCE            
|Receivable Partners Inc.                           |  | DELAWARE          
|Receivable Partners New York                       |  | NEW YORK          
|Recovre Pty Ltd                                    |  | AUSTRALIA         
|Reliance Trading Co. (Liverpool) Limited           |  | UNITED KINGDOM    
|RES Gesellschaft für Immobilienbesitz mbH          |  | GERMANY           
|Reunion Island                                     |  | FRANCE            
|Reuschel & Co. Beteiligungs  und Verwaltungs GmbH |  | GERMANY           
|Reuschel & Co. Finanz-Service GmbH                 |  | GERMANY           
|Reuschel & Co. Kommanditgesellschaft               |  | GERMANY           
|Reuschel & Co. Verwaltungs GmbH                    |  | GERMANY           
|RHEA                                               |  | LUXEMBOURG        
|Rhone Nominees SA                                  |  | PANAMA            
|Rhyme Jersey Holding                               |  | UNITED KINGDOM    
|Rhyme UK Holding                                   |  | UNITED KINGDOM    
|Risikomanagement und Softwareentwicklung GmbH      |  | AUSTRIA           
|Risk & Safety Services Limited                     |  | IRELAND           
|risklab germany GmbH                               |  | GERMANY           
|Riskon Aktiengesellschaft geschlossenen Typs       |  | RUSSIAN FEDERATION
|Riunione Adriatica di Sicurtà S.p.A.               |  | ITALY             
|RM ARROUX                                          |  | FRANCE            
|Robert Benson Lonsdale & Co (Canada) Ltd           |  | UNITED KINGDOM    
|Robert Benson Lonsdale & Co. Ltd                   |  | UNITED KINGDOM    
|Roese GmbH  Versicherungsmakler                   |  | GERMANY           
|Rood Nominees Ltd                                  |  | UNITED KINGDOM    
|RVB Verwaltungs  und Beteiligungs GmbH            |  | GERMANY           
|S. C. I. Dutilleul                                 |  | FRANCE            
|S. C. I. Part-Dieu                                 |  | UNITED KINGDOM    
|S.A. PRESTALYS                                     |  | FRANCE            
|S.C. ASIT REAL ESTATE S.R.L.                       |  | ROMANIA           
|S.C.I. de la Boucle                                |  | FRANCE            
|S.I. Rue de LIndustrie 19 S.A.                    |  | SWITZERLAND       
|S.I.B.I.                                           |  | FRANCE            
|S.N.C. Haussmann Viager 2                          |  | FRANCE            
|S.N.C. SNC Dresdner Service                        |  | FRANCE            
|SA Immobilière de LAvenue du Roule                |  | FRANCE            
|Sa Paindavoine                                     |  | FRANCE            
|SACNAS INTERNATIONAL S.A.                          |  | FRANCE            
|SACNAS RE                                          |  | LUXEMBOURG        



---

Exhibit 8.1 Fiscal year 2004



|                                                              |  |              
|------------------------------------------------------------- |  | -------------
|SAFARRIV IARD S.A.                                            |  | COTE DIVOIRE
|SAFARRIV VIE S.A.                                             |  | COTE DIVOIRE
|SAGE SARL                                                     |  | FRANCE       
|Saint-Barth Assurances S.A.R.L.                               |  | FRANCE       
|San Francisco Reinsurance Company                             |  | CALIFORNIA   
|SARL BTKM                                                     |  | FRANCE       
|SARL CACHACAG                                                 |  | FRANCE       
|Sarl de lEtoile                                              |  | FRANCE       
|Sarl FFE                                                      |  | FRANCE       
|SARL G V DEVELOPPEMENT                                        |  | FRANCE       
|SARL H.B. Pergola                                             |  | FRANCE       
|SARL L.J                                                      |  | FRANCE       
|SARL Lège                                                     |  | FRANCE       
|SARL MEDISPAC                                                 |  | FRANCE       
|SARL MIDAGUIEM                                                |  | FRANCE       
|SARL MIFRA                                                    |  | FRANCE       
|SARL MJBD                                                     |  | FRANCE       
|SARL RM Arroux                                                |  | FRANCE       
|SARL RS PIAU                                                  |  | FRANCE       
|SAS LAENNEC                                                   |  | FRANCE       
|SAT S.A.                                                      |  | TURKEY       
|Schmalbach-Lubeca Finanzanlagen GmbH                          |  | GERMANY      
|Schmalbach-Lubeca PET Centre Technique et de Recherche S.A.S. |  | FRANCE       
|Schmalbach-Lubeca Service Center N.V.                         |  | BELGIUM      
|SCI Atrium W9                                                 |  | FRANCE       
|SCI AVIP Atlantique                                           |  | FRANCE       
|SCI AVIP Boulogne Schumann                                    |  | FRANCE       
|SCI AVIP Champs Elysée                                        |  | FRANCE       
|SCI Avip des Pivolles                                         |  | FRANCE       
|SCI AVIP La Templerie                                         |  | FRANCE       
|SCI AVIP Limas du Vieux CEP                                   |  | FRANCE       
|SCI AVIP Marly-Saint Cyr                                      |  | FRANCE       
|SCI AVIP Paris X                                              |  | FRANCE       
|SCI AVIP SCPI Selection                                       |  | FRANCE       
|SCI Bel                                                       |  | FRANCE       
|SCI Bercy W9                                                  |  | FRANCE       
|SCI Carmidaloc                                                |  | FRANCE       
|SCI champ laurent                                             |  | FRANCE       
|SCI Chaponnay                                                 |  | FRANCE       
|SCI Chene Alpes                                               |  | FRANCE       
|SCI CRAM                                                      |  | FRANCE       
|SCI de Bonlieu et du lac                                      |  | FRANCE       
|SCI des 108 et 110 Boulevard Haussmann                        |  | FRANCE       
|SCI des Mercieres                                             |  | FRANCE       
|SCI Dicca                                                     |  | FRANCE       
|SCI Du Manoir Queval                                          |  | FRANCE       
|SCI en Presles                                                |  | FRANCE       
|SCI F.D.B.L.                                                  |  | FRANCE       
|SCI Fonciere du mas de Roman                                  |  | FRANCE       



---

Exhibit 8.1 Fiscal year 2004



|                                                                          |  |               
|------------------------------------------------------------------------- |  | --------------
|SCI IDF                                                                   |  | FRANCE        
|SCI Immobilière des Pennes Mirabeau                                       |  | FRANCE        
|SCI J.T.                                                                  |  | FRANCE        
|SCI Jamin                                                                 |  | FRANCE        
|SCI Jelavie                                                               |  | FRANCE        
|SCI La Balandrane                                                         |  | FRANCE        
|SCI La Riche 540                                                          |  | FRANCE        
|SCI La Rize                                                               |  | FRANCE        
|SCI Lajevie                                                               |  | FRANCE        
|SCI Limmo                                                                 |  | FRANCE        
|SCI Limmo 2                                                               |  | FRANCE        
|SCI Marcleau                                                              |  | FRANCE        
|SCI mediterranee distribution                                             |  | FRANCE        
|SCI RELAIS S.SAUVEUR                                                      |  | FRANCE        
|SCI Rhone Alpe                                                            |  | FRANCE        
|SCI Rue Babeuf                                                            |  | FRANCE        
|SCI Stratus                                                               |  | FRANCE        
|SCI Trescol                                                               |  | FRANCE        
|SCI Turenne                                                               |  | FRANCE        
|SCI Vilaje                                                                |  | FRANCE        
|Sealdrift Ltd                                                             |  | UNITED KINGDOM
|Sechste FraMü Beteiligungsgesellschaft mbH                                |  | GERMANY       
|Sechzehnte FraMü Beteiligungs GmbH                                        |  | GERMANY       
|Secunda-Vermögensverwaltungsgesellschaft mbH                              |  | GERMANY       
|Security Ltd.                                                             |  | GREECE        
|Sexta-Vermögensverwaltungsgesellschaft mbH                                |  | GERMANY       
|SF Development FCPR L                                                     |  | FRANCE        
|SHA Seminarhotel AG                                                       |  | SWITZERLAND   
|Siebte FraMü Beteiligungsgesellschaft mbH                                 |  | GERMANY       
|Siebte SIB Beteiligungs-Aktiengesellschaft                                |  | GERMANY       
|Siebzehnte DRESIB Beteiligungs-Gesellschaft mbH                           |  | GERMANY       
|Signature Financial Services                                              |  | PENNSYLVANIA  
|Silver Lux Inc.                                                           |  | CAYMAN ISLANDS
|Silver Tower 125 Inc.                                                     |  | CAYMAN ISLANDS
|Skylark                                                                   |  | CAYMAN ISLANDS
|SNA Holding (Bermuda) Ltd.                                                |  | BERMUDA       
|SNA  Ré Societé Nationale DAssurances et de Reassurances (Bermuda) Ltd. |  | BERMUDA       
|SNA Sal                                                                   |  | LEBANON       
|SNAM S.A.L                                                                |  | LEBANON       
|SNC AGF Cash                                                              |  | FRANCE        
|SNC AGF Clearing                                                          |  | FRANCE        
|SNC AIP                                                                   |  | FRANCE        
|SNC Allianz Bercy                                                         |  | FRANCE        
|SNC Dresdner Services                                                     |  | FRANCE        
|SNC Kléber Magdebourg                                                     |  | FRANCE        
|SNC Maxium                                                                |  | FRANCE        
|SOBAC                                                                     |  | BENIN         
|SOCIEDAD MUNDIAL DE ASISTENCIA (S.M.A.S.A.) S.A.                          |  | SPAIN         
|SOCIETE BELGE DASSISTANCE INTERNATIONALE S.A. S.B.A.I.                 |  | BELGIUM       



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Exhibit 8.1 Fiscal year 2004



|                                                                                      |  |               
|------------------------------------------------------------------------------------- |  | --------------
|SOCIETE BELGE DE SERVICES TELEPHONIQUES S.B.S.T. S.A.                               |  | BELGIUM       
|Société Civile Construction Vente 33 Lafayette                                        |  | FRANCE        
|SOCIETE EUROPEENNE DE PROTECT. ET DE SEVICES DASSIST. A DOMICILE S.E.P.S.A.D. S.A. |  | FRANCE        
|Société Financière du Léman                                                           |  | SWITZERLAND   
|Société Foncière Européenne                                                           |  | FRANCE        
|Société Foncière Européenne                                                           |  | NETHERLANDS   
|Société Nationale DAssurances S.A.L.                                                 |  | LEBANON       
|Société Nouvelle DAssurances du Cameroun S.A.                                        |  | CAMEROON      
|Société Nouvelle DAssurances vie du Cameroun S.A.                                    |  | CAMEROON      
|Sofiholding S.A.                                                                      |  | BELGIUM       
|Sogafi                                                                                |  | FRANCE        
|SOLVET S.r.l.                                                                         |  | ITALY         
|Somerset Valley Insurance Services                                                    |  | NEW JERSEY    
|Sonimm                                                                                |  | FRANCE        
|Southwark Bridge Investments Ltd                                                      |  | UNITED KINGDOM
|Space Park Aufbau GmbH                                                                |  | GERMANY       
|Space Park Erste Verwaltungs GmbH                                                     |  | GERMANY       
|Space Park GmbH & Co. KG                                                              |  | GERMANY       
|SPACECO                                                                               |  | FRANCE        
|SSC Société de Services Communs                                                       |  | FRANCE        
|Standard General Agency                                                               |  | TEXAS         
|Stanislas H. Haine                                                                    |  | BELGIUM       
|StocksPLUS                                                                            |  | DELAWARE      
|StocksPLUS Management Inc.                                                            |  | DELAWARE      
|StocksPLUS Sub-Fund B LLC.                                                            |  | CALIFORNIA    
|Strategic Reinsurance Ltd.                                                            |  | BERMUDA       
|Structured Security Company                                                           |  | DELAWARE      
|Subarban Finance Company Limited                                                      |  | CAYMAN ISLANDS
|Subarban Finance Company II Limited                                                   |  | CAYMAN ISLANDS
|Subarbon Finance Co.                                                                  |  | UNITED KINGDOM
|Sudamero Consultoria SA                                                               |  | FRANCE        
|Sudamero Trust Company (Cayman) Ltd                                                   |  | CAYMAN ISLANDS
|Süddeutsche Industrie-Beteiligungs-Gesellschaft mbH                                   |  | GERMANY       
|Suffolk Investments Inc                                                               |  | NEW YORK      
|Symphony No 1 LLC                                                                     |  | CAYMAN ISLANDS
|Syscom Instruments S.A.                                                               |  | SWITZERLAND   
|T.U. Allianz Polska S.A.                                                              |  | POLAND        
|T.U. Allianz Polska Zycie S.A.                                                        |  | POLAND        
|Takecare Management Ltd.                                                              |  | UNITED KINGDOM
|TFI ALLIANZ POLSKA S.A.                                                               |  | POLAND        
|TGAF Inc.                                                                             |  | CAYMAN ISLANDS
|Thames SPC                                                                            |  | UNITED KINGDOM
|The Ajax Insurance Association Ltd.                                                   |  | UNITED KINGDOM
|The American Insurance Company                                                        |  | NEBRASKA      
|The Export Credit Clearing House Limited                                              |  | UNITED KINGDOM
|The Kleinwort Benson Mezzanine Fund L.P.                                              |  | NEW YORK      
|The MI Group Limited                                                                  |  | UNITED KINGDOM



---

Exhibit 8.1 Fiscal year 2004



|                                                             |  |                         
|------------------------------------------------------------ |  | ------------------------
|The MI Property Management Company Limited                   |  | UNITED KINGDOM          
|Thornton Brokerage Ltd                                       |  | HONG KONG               
|Thornton Management (C.I.) Ltd                               |  | UNITED KINGDOM          
|Thornton Nominees Ltd                                        |  | UNITED KINGDOM          
|Thurlastone Finance Limited                                  |  | UNITED KINGDOM          
|Tindall Riley & Co.                                          |  | UNITED KINGDOM          
|Top Logistikwerkstatt Assistance GmbH                        |  | AUSTRIA                 
|Top Versicherungsservice GmbH                                |  | AUSTRIA                 
|Tour Cristal                                                 |  | FRANCE                  
|Towarzystwo Ubezpieczeniowe Euler Hermes S.A.                |  | POLAND                  
|Trade Debtor Insurance Services Limited                      |  | UNITED KINGDOM          
|TRADE INDEMNITY Collections Ltd.                             |  | UNITED KINGDOM          
|Trade Indemnity Credit Corporation Limited                   |  | UNITED KINGDOM          
|Trade Indemnity Factors Limited                              |  | UNITED KINGDOM          
|Trafalgar Insurance Public Limited Company                   |  | UNITED KINGDOM          
|Traktir                                                      |  | FRANCE                  
|Travel Care Inc.                                             |  | FLORIDA                 
|Turnpike Crossing 1                                          |  | DELAWARE                
|Turnpike Crossing 2                                          |  | NEW JERSEY              
|TURNPIKE CROSSING 3                                          |  | CONNETICUT              
|UAB Euler Hermes Services Baltic                             |  | LITHUANIA               
|UAB Lietuvos draudimo kreditu draudimas (LDKD)               |  | LITHUANIA               
|Union Centrafricaine DAssurances et de Reassurances S.A.    |  | CENTRAL AFRICAN REPUBLIC
|UNIPENSÃOSoc. Gestora de Fundos de Pensões                  |  | PORTUGAL                
|Universal Leven N.V.                                         |  | NETHERLANDS             
|Unterstützungseinrichtung des Bankhauses Reuschel & Co. GmbH |  | GERMANY                 
|USAllianz Advisers                                           |  | MINNESOTA               
|USAllianz Insurance & Securities Agency                      |  | MINNESOTA               
|USAllianz Insurance & Securities Agency                      |  | ALABAMA                 
|USAllianz Insurance & Securities Agency                      |  | COLORADO                
|USAllianz Insurance & Securities Agency                      |  | HAWAII                  
|USAllianz Insurance & Securities Agency                      |  | KENTUCKY                
|USAllianz Insurance & Securities Agency                      |  | NEVADA                  
|USAllianz Insurance & Securities Agency                      |  | NEW MEXICO              
|USAllianz Insurance & Securities Agency                      |  | OHIO                    
|USAllianz Insurance & Securities Agency                      |  | TEXAS                   
|USAllianz Insurance & Securities Agency                      |  | VERMONT                 
|USAllianz Insurance Agency                                   |  | MINNESOTA               
|USAllianz Insurance Agency                                   |  | NEW YORK                
|USAllianz Insurance Agency                                   |  | DELAWARE                
|USAllianz Investor Services                                  |  | MINNESOTA               
|USAllianz Securities                                         |  | MINNESOTA               
|Valley Green Business Park Inc.                              |  | MINNESOTA               
|Valley Green Business Park Ltd.                              |  | MINNESOTA               
|Veer Palthe Voûte (Antilles) NV                              |  | NETHERLANDS ANTILLES    
|Veer Palthe Voûte (Suisse) SA                                |  | SWITZERLAND             
|Veer Palthe Voûte N.V.                                       |  | NETHERLANDS             
|Vendome Lease SA                                             |  | UNITED KINGDOM          
|Vereinte Spezial Krankenversicherung AG                      |  | GERMANY                 
|Vereinte Spezial Versicherung AG                             |  | GERMANY                 



---

Exhibit 8.1 Fiscal year 2004



|                                                       |  |               
|------------------------------------------------------ |  | --------------
|Verlag Arbeit und Alter GmbH                           |  | GERMANY       
|Vernon                                                 |  | FRANCE        
|Vestrust Investments Venezuela S.R.L.                  |  | VENEZUELA     
|Vestrust Peru S.R.                                     |  | PERU          
|Vierzehnte FraMü Beteiligungs GmbH                     |  | GERMANY       
|Villa La Pagliaia S.r.l.                               |  | ITALY         
|Vintage Insurance Company                              |  | CALIFORNIA    
|visionapp GmbH                                         |  | GERMANY       
|W Finance                                              |  | FRANCE        
|W Finance Assurances                                   |  | FRANCE        
|W9 Atrium SARL                                         |  | FRANCE        
|W9 Bercy SARL                                          |  | FRANCE        
|Wall Street Technology Managers                        |  | NEW YORK      
|Wall Street Technology Partners L.P.                   |  | NEW YORK      
|Wasserstein Perella & Co.                              |  | UNITED KINGDOM
|Wasserstein Perella & Co. Deutschland GmbH             |  | FRANCE        
|Wasserstein Perella & Co. Holdings                     |  | DELAWARE      
|Wasserstein Perella & Co. Inc. (Delaware)              |  | DELAWARE      
|Wasserstein Perella & Co. Japan Ltd.                   |  | JAPAN         
|Wasserstein Perella & Co. Pacific                      |  | DELAWARE      
|Wasserstein Perella (France) SA                        |  | FRANCE        
|Wasserstein Perella Group Holdings                     |  | DELAWARE      
|WDDC Inc.                                              |  | DELAWARE      
|WebTek Software Private Limited                        |  | INDIA         
|Weser_Ems_International_Bond_Funds B                   |  | GERMANY       
|Wessex Holdings Inc                                    |  | NEW YORK      
|Westbourne Properties Ltd                              |  | UNITED KINGDOM
|Wilhelm Reuschel GmbH                                  |  | GERMANY       
|Willemsbruggen                                         |  | NETHERLANDS   
|Wm. H McGee & Co.                                      |  | NEW YORK      
|Wm. H McGee & Co. (Bermuda) Ltd.                       |  | BERMUDA       
|Wm. H McGee & Co. of Puerto Rico Inc.                  |  | PUERTO RICO   
|Wm. H McGee Services                                   |  | NEW YORK      
|World Access                                           |  | VIRGINIA      
|World Access ASIA (PTE) Ltd.                           |  | SINGAPORE     
|World Access Canada Inc.                               |  | CANADA        
|World Access Europe LTD.                               |  | UNITED KINGDOM
|World Access Healthcare Services Inc.                  |  | FLORIDA       
|World Access Insurance Broker Ltd.                     |  | CANADA        
|World Access Service Corp.                             |  | VIRGINIA      
|WP Bridge Finance Inc.                                 |  | DELAWARE      
|WP Plan Management Partners                            |  | DELAWARE      
|WP Services Inc.                                       |  | DELAWARE      
|Yarra Finance Limited                                  |  | UNITED KINGDOM
|YD CHOLLET FINANCE                                     |  | FRANCE        
|Zehnte FraMü Beteiligungs GmbH                         |  | GERMANY       
|Zehnte Herakles Beteiligungs-Gesellschaft mbH & Co. KG |  | GERMANY       
|Zehnte SIB Beteiligungs-Aktiengesellschaft             |  | GERMANY       
|Zehnte Sonnenplatz Beteiligungs-Gesellschaft mbH       |  | GERMANY       
|Zenon Beteiligungs-GmbH                                |  | GERMANY       



---

Exhibit 8.1 Fiscal year 2004



|                                                       |  |            
|------------------------------------------------------ |  | -----------
|Zweite FraMü Beteiligungs GmbH                         |  | GERMANY    
|Zweite Sonnenplatz Beteiligungs-Gesellschaft mbH       |  | GERMANY    
|Zweiunddreißigste DRESIB Beteiligungs-Gesellschaft mbH |  | GERMANY    
|Zwölfte SIB Beteiligungs-Aktiengesellschaft            |  | GERMANY    
|Zwolsche Algemeene Europa B.V.                         |  | NETHERLANDS