**Exhibit 8.1.**
**MAJOR CONSOLIDATED SUBSIDIARIES AND ASSOCIATED COMPANIES**                       **GROUP**              **SERVICES,** **AMERICAS** **HOLDING %**  **SELLING**  **MANUFACTURING**  **RESEARCH**  **FINANCE** **ARGENTINA**                    Ciba Especialidades Químicas S.A.,Buenos Aires  100   •             **BERMUDA**                    Chemical Insurance Company Ltd.,Hamilton  100               • Ciba Specialty Chemicals Eurofinance Ltd.,Hamilton  100               • Ciba Specialty Chemicals International Finance Ltd.,Hamilton  100               • Ciba Specialty Chemicals Investment Ltd.,Hamilton  100               • **BRAZIL**                    Ciba Especialidades Químicas Ltda.,São Paulo  100   •   •         LatexiaBrazil Ltda., São Paulo  100   •   •         **CANADA**                    Ciba Specialty Chemicals Canada Inc.,Mississauga  100   •             **CHILE**                    Ciba Especialidades Químicas Ltda.,Santiago de Chile  100   •   •         **COLOMBIA**                    Ciba Especialidades Químicas S.A.,Bogotà  100   •   •         RaisioQuímica Andina S.A.,Medellin  96   •   •         **GUATEMALA**                    Ciba Especialidades Químicas, S.A. (ACC),Guatemala  100   •   •         **MEXICO**                    Ciba Especialidades Químicas Mexico S.A. de C.V.,Mexico  100   •   •         **PANAMA**                    Ciba Especialidades Químicas Colon S.A.,Colon  100   •             **UNITED STATES OF AMERICA**                    Ciba Specialty Chemicals Corporation,Tarrytown, NY  100   •   •   •     **ASIA PACIFIC**                    **AUSTRALIA**                    Ciba Specialty Chemicals Pty. Ltd., Thomastown  100   •   •         **BAHRAIN**                    CibaSpecialty Chemicals Middle East W.L.L.,Manama (Al Seef District)  100   •             **CHINA**                    Ciba Specialty Chemicals (China) Ltd., Shanghai  100   •           • Ciba Specialty Chemicals (Hong Kong) Ltd.,Hong Kong  100   •             Ciba Specialty Chemicals (Shanghai) Ltd.,Shanghai  100   •             GuangdongCiba Specialty Chemicals Co. Ltd.,Panyu, Guangdong  95   •   •         Guangzhou Ciba Specialty Chemicals Co. Ltd.,Guangzhou  80   •   •         Qingdao Ciba Dyes Co. Ltd., Qingdao  94   •   •         Qingdao Ciba Pigments Co. Ltd., Qingdao  91   •   •         Raisio Chemicals (Shanghai) Co. Ltd., Shanghai  100   •             RaisioTianma Chemicals (Suzhou) Co. Ltd.,Suzhou, Jiangsu  100   •             Shanghai Ciba Gao-Qiao Chemical Co. Ltd.,Shanghai  75   •   •         Shenzhen Ciba Specialty Chemicals Co. Ltd.,Shenzhen  85   •   •         Xiangtan Chemicals & Pigments Co. Ltd.,Xiangtan  49   •   •         **INDIA**                    Ciba India Private Ltd., Mumbai  100           •   • Ciba Specialty Chemicals (India) Ltd., Mumbai (1)  69   •   •         Diamond Dye-Chem Ltd., Mumbai (2)  69   •   •         **INDONESIA**                    P.T. Ciba Specialty Chemicals Indonesia, Jakarta  80   •   •         PTIntercipta Kimia Pratama, Jakarta  60   •   •         PT LatexiaIndonesia, Jakarta  100   •   •         **JAPAN**                    Chemipro Fine Chemical Kaisha Ltd., Kobe  51   •   •         Ciba Specialty Chemicals K.K., Osaka  100   •       •     Musashino-Geigy Company Ltd.,Kitaibaraki (Ibaraki)  60   •   •         Nippon Alkyl Phenol Co. Ltd., Tokyo  46   •   •         **REPUBLIC OF KOREA (SOUTH KOREA)**                    Ciba Specialty Chemicals Korea Ltd., Seoul  100   •             Daihan Swiss Chemical Corporation, Seoul  100   •   •   •     Doobon Fine Chemical Co., Ltd., Chongwon-kun  63   •   •         Raisio Chemicals Korea Inc., Chonan  51   •   •         **MALAYSIA**                    Ciba Specialty Chemicals (Malaysia) SDN BHD,Klang  70   •   •         **NEW ZEALAND**                    Ciba Specialty Chemicals N.Z. Ltd., Auckland  100   •   •         **SINGAPORE**                    Ciba Specialty Chemicals (Singapore) Pte. Ltd.,Singapore  100   •             **SOUTH AFRICA**                    Ciba Specialty Chemicals (Pty) Ltd., Spartan  100   •             **TAIWAN**                    Ciba Specialty Chemicals (Taiwan) Ltd., Kaohsiung  100   •   •         **THAILAND**                    Ciba Specialty Chemicals (Thailand) Ltd., Bangkok  100   •   •         

 
                       **GROUP**              **SERVICES,** **EUROPE** **HOLDING %**  **SELLING**  **MANUFACTURING**  **RESEARCH**  **FINANCE** ** **                    **AUSTRIA**                    Ciba Spezialitätenchemie GmbH, Hard  100   •             Latexia Österreich GmbH,Pischelsdorf/Zwentendorf  100   •   •         **BELGIUM**                    CibaSpecialty Chemicals N.V., Groot-Bijgaarden  100   •             LatexiaS.A., Veurne  100                •RaisioBelgium N.V., Veurne  100   •   •         **FINLAND**                    Ciba Specialty Chemicals Finland OY, Helsinki  100   •             Ciba Specialty Chemicals Oy, Raisio  100   •   •   •   • Finnamyl Oy, Raisio  100   •   •         Latexia SB Oy, Raisio  100   •   •         LatexiaSuomi Oy, Raisio  100   •   •   •     Oy Kationi Ab, Raisio  100   •   •         **FRANCE**                    CibaSpécialités Chimiques SA, Saint Fons  100   •   •         Ciba Specialty Chemicals Masterbatch SA,Saint Jeoire en Faucigny  100   •   •   •     **GERMANY**                    Ciba Spezialitätenchemie Grenzach GmbH,Grenzach-Wyhlen  100       •   •     Ciba Spezialitätenchemie HoldingDeutschland GmbH, Lampertheim  100               • Ciba Spezialitätenchemie Lampertheim GmbH,Lampertheim  100   •   •   •     Ciba Spezialitätenchemie Pfersee GmbH,Langweid/Lech  100   •   •   •     **GREECE**                    Ciba Specialty Chemicals Hellas ABEE,Thessaloniki  100   •             **HUNGARY**                    CibaSpecialty Chemicals Magyarorszag Kft.,Budapest  100   •             **ITALY**                    Ciba Specialty Chemicals S.p.A.,Sasso Marconi (Bologna)  100   •   •   •     MagentaMaster Fibers S.r.l., Milano  60   •   •   •                          **LUXEMBOURG**                    Ciba Specialty Chemicals FinanceLuxembourg S.A., Luxembourg  100               • **NETHERLANDS**                    Ciba Specialty Chemicals InternationalNederland B.V., Maastricht  100               • Ciba Specialty Chemicals (Maastricht) B.V.,Maastricht  100   •   •   •     EFKA Additives B.V., Heerenveen  100   •   •   •     **PORTUGAL**                    CibaEspecialidades Químicas Lda., Porto  100   •             Raisio Portugal-Produtos Químicos, Lda.,Nogueira Maia  51   •             **SPAIN**                    Ciba Especialidades Químicas S.L., Barcelona  100   •             Latexia Iberia, S.L., Madrid  100   •   •         Raisio Echeveste, S.A., Tolosa  51   •   •         **SWEDEN**                    Ciba Specialty Chemicals Sweden AB, Göteborg  100   •             AB CDM, Västra Frölunda  100   •             Raisio Svenska AB, Gothenburg  100   •             **SWITZERLAND**                    CibaSpecialty Chemicals Holding Inc., Basel (3)                  • Ciba Spécialités Chimiques Monthey SA,Monthey  100       •         Ciba Spezialitätenchemie AG,Basel  100   •   •   •     Ciba Spezialitätenchemie Finanz AG,Basel  100                • Ciba Spezialitätenchemie International AG,Basel  100                • Ciba Spezialitätenchemie Kaisten AG,Kaisten  100       •         Ciba Spezialitätenchemie Schweizerhalle AG,Muttenz  100       •         Ciba Spezialitätenchemie Services AG,Basel  100                • CIMO Compagnie Industrielle de Monthey SA,Monthey  50                • **TURKEY**                    Ciba Özel Kimyevi Ürünler Sanayi ve Ticaret Ltd.,Istanbul  100   •             **UNITED KINGDOM**                    Ciba Specialty Chemicals PLC,Macclesfield  100   •   •   •     Ciba Specialty Chemicals Investment PLC,Macclesfield  100               • Ciba Specialty Chemicals Water Treatments Ltd.,Bradford  100   •   •   •     Pira International Limited, Leatherhead  100   •             Raisio Chemicals UK Limited, Blackburn  100   •   •         
To enhance the readability of this report and becauseof being less relevant, the share or quota capitals ofCiba group companies are not indicated herein, with theexception of Ciba Specialty Chemicals Holding Inc. and ofCiba Specialty Chemicals (India) Ltd., two publiclylisted companies.
(1) The shares of Ciba SpecialtyChemicals (India) Ltd., Mumbai, (“CSCIL”) are listed onthe Mumbai Stock Exchange (www.bseindia.com) under thescrip name “CIBA SPECH”; the scrip code is 532184. The total market value ofthe 13 280 819 outstanding shares of CSCIL as ofDecember 31, 2004 was approximately CHF 107 million (INR4 060 million). As of December 31, 2004 the Company held9 200 887 Equity Shares, representing 69.28 percent ofthe paid-up share capital of CSCIL. (2) Diamond Dye-Chem Limited is a wholly owned subsidiary of CSCIL. (3) Ciba Specialty Chemicals Holding Inc. isthe ultimate holding company of Ciba Specialty ChemicalsGroup. Its Shares are listed on the Swiss Exchange and,since August 2, 2000, the Company’s American DepositoryShares (“ADSs”) are listed on the New York StockExchange. Two ADSs represent one Share of the Company’scommon stock.
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