EXHIBIT 21



SUBSIDIARIES OF REGISTRANT



The registrant is IKON Office Solutions, Inc., an Ohio corporation, which has no parent. The following sets forth information with respect to IKON Office Solutions,
Inc.s subsidiaries as of December 10, 2004.



|                                                       |  |                                     |  |                                                           
|------------------------------------------------------ |  | ----------------------------------- |  | ----------------------------------------------------------
|Subsidiary                                             |  | % Voting Securities Owned (by
whom) |  | State or otherjurisdiction ofIncorporation or organization
|Chesterbrook Insurance Limited                         |  | 100% IKON                           |  | Bermuda                                                   
|IKON Document Services Ltd (Ireland)                   |  | 100% IKON                           |  | Ireland                                                   
|IKON Office Solutions A/S (Denmark)                    |  | 100% IKON                           |  | Denmark                                                   
|IKON Office Solutions Group PLC (IOSG)                 |  | 100% IKON                           |  | United Kingdom                                            
|IKON Office Solutions Europe PLC (IOSE)                |  | 100% IOSG                           |  | United Kingdom                                            
|IKON Office Solutions PLC (IOSPLC)                     |  | 100% IOSE                           |  | United Kingdom                                            
|IKON Capital PLC                                       |  | 100% IOSPLC                         |  | United Kingdom                                            
|Kafevend Group PLC                                     |  | 100% IOSPLC                         |  | United Kingdom                                            
|IKON Office Solutions Holding GmbH (IOSH)              |  | 100% IOSE                           |  | Germany                                                   
|IKON Office Solutions GmbH Hamburg                     |  | 100% IOSH                           |  | Germany                                                   
|IKON Office Solutions GmbH Leipzig                     |  | 70% IOSH/30% Uwe Paul               |  | Germany                                                   
|IKON Leasing GmbH                                      |  | 100% IOSH                           |  | Germany                                                   
|IKON Office Solutions Spain SLU                        |  | 100% IOSE                           |  | Spain                                                     
|IKON Office Solutions Italia Srl                       |  | 100% IOSE                           |  | Italy                                                     
|IKON Office Solutions Netherlands B.V.                 |  | 100%IOSE                            |  | Netherlands                                               
|IKON Office Solutions Technology Services, LLC         |  | 100% IKON                           |  | Delaware                                                  
|IKON Office Solutions West, Inc.                       |  | 100% IKON                           |  | Delaware                                                  
|IKON Realty, Inc.                                      |  | 100% IKON                           |  | Delaware                                                  
|INA North America Holdings, Inc. (INA)                 |  | 100% IKON                           |  | Delaware                                                  
|IKON Baja, S.A. de C.V.                                |  | 99.79%INA/.21% IKON                 |  | Mexico                                                    
|IKON Copiroyal, S.A. de C.V.                           |  | 100% INA*                           |  | Mexico                                                    
|IKON Office Solutions Australia Pty Ltd                |  | 100% INA                            |  | Australia                                                 
|IKON Office Solutions, Inc. (Canada) (IOS-Canada)      |  | 100% INA                            |  | Canada                                                    
|IKON Office Solutions Dublin Limited                   |  | 100% IOS-Canada                     |  | United Kingdom                                            
|IKON Funding, Inc.                                     |  | 100% IKON                           |  | Delaware                                                  
|IKON Receivables Funding, Inc.                         |  | 100% IKON                           |  | Delaware                                                  
|IKON Funding, LLC                                      |  | 100% IKON                           |  | Delaware                                                  
|IKON Funding-1, LLC                                    |  | 100% IKON                           |  | Delaware                                                  
|IKON Funding-2, LLC                                    |  | 100% IKON                           |  | Delaware                                                  
|IKON Funding-3, LLC                                    |  | 100% IKON                           |  | Delaware                                                  
|IKON Conduit Funding, Inc,                             |  | 100% IKON                           |  | Delaware                                                  
|IKON Funding-4, LLC                                    |  | 100% IKON                           |  | Delaware                                                  
|IKON Funding-5, LLC                                    |  | 100% IKON                           |  | Delaware                                                  
|IKON Receivables-2, LLC (IR-2)                         |  | 100% IKON                           |  | Delaware                                                  
|IKON Receivables Funding, LLC                          |  | 100% IR-2                           |  | Delaware                                                  
|Pimeau B.V.                                            |  | 100% IKON                           |  | Netherlands                                               
|IKON Office Solutions (Holdings) France S.A.S. (IOSHF) |  | 92% IKON/8% PIMEAU                  |  | France                                                    
|IKON Office Solutions S.A. S. (IOSSA)                  |  | 100% IOSHF                          |  | France                                                    
|Upshur Coals Corporation                               |  | 100% IKON                           |  | West Virginia                                             

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|* | INA owns 99.99999955425% and IKON owns .00000044585% of the voting securities of IKON Copiroyal, S.A. de C.V.
|- | -------------------------------------------------------------------------------------------------------------