| Subsidiary                                                                                                 |   | Jurisdiction      of Incorporation |
|------------------------------------------------------------------------------------------------------------|--------|------------------------------------|
|                                                                                                       |   |                               |
| NexCen                                                                                                     |   |                               |
| NexCen      Brands, Inc. (F/K/A Aether Holdings, Inc.)                                                     |   | Delaware                           |
| NexCen      Holding Corp. (F/K/A NexCen Acquisition Corp. and formerly NexCen      Franchise Brands, Inc.) |   | Delaware                           |
| NexCen      Franchise Management, Inc.                                                                     |   | Delaware                           |
| NexCen      Brand Management, Inc.                                                                         |   | Delaware                           |
| NexCen      Fixed Asset Company, LLC                                                                       |   | Delaware                           |
| NexCen      Asset Acquisition, LLC                                                                         |   | Delaware                           |
|                                                                                                       |   |                               |
| Athletes      Foot                                                                                         |   |                               |
| Athlete's      Foot Brands, LLC                                                                            |   | Delaware                           |
| Athlete's      Foot Marketing Support Fund, LLC*                                                           |   | Delaware                           |
| TAF      Australia, LLC                                                                                    |   | Delaware                           |
|                                                                                                       |   |                               |
| Bill      Blass:                                                                                           |   |                               |
| BB      Design International, LLC (F/K/A Bill Blass International,      LLC)                               |   | Delaware                           |
| BB      Jeans, LLC (F/K/A Bill Blass Jeans, LLC)                                                           |   | Delaware                           |
| BB      Design Holding Co., Inc. (F/K/A Bill Blass Holding Co.,    Inc.)                                   |   | Delaware                           |
| BB      Design Licensing Co., Inc. (F/K/A Bill Blass Licensing Co.,      Inc.)                             |   | New      York                      |
|                                                                                                       |   |                               |
| Great      American Cookies                                                                                |   |                               |
| GAC      Franchise Brands, LLC                                                                             |   | Delaware                           |
| GAC      Franchising, LLC                                                                                  |   | Delaware                           |
| GAC      Brand and Marketing Fund, LLC*                                                                    |   | Delaware                           |
| GAC      Supply, LLC                                                                                       |   | Delaware                           |
| GAC      Manufacturing, LLC (formerly GAM Assets)                                                          |   | Delaware                           |
| NB      Supply Management Corp.                                                                            |   | Delaware                           |
|                                                                                                       |   |                               |
| Marble      Slab Creamery:                                                                                 |   |                               |
| Marble      Slab Franchise Brands, LLC                                                                     |   | Delaware                           |
| Marble      Slab Franchising, LLC                                                                          |   | Delaware                           |
| Marble      Slab Brand and Marketing Fund, LLC*                                                            |   | Delaware                           |
|                                                                                                       |   |                               |
| MaggieMoo’s                                                                                          |   |                               |
| MaggieMoo's      International, LLC                                                                        |   | Delaware                           |
| MaggieMoo's      Franchising, LLC(Formerly      MaggieMoo Master Franchise, LLC)                           |   | Delaware                           |
| MaggieMoo's      Franchise Brands, LLC(Formerly      NexCen Creamery & Treatery, LLC)                  |   | Delaware                           |
| MaggieMoo's      Brand and Marketing Fund, LLC*                                                            |   | Delaware                           |
|                                                                                                       |   |                               |
| Pretzelmaker                                                                                               |   |                               |
| PM      Franchise Brands, LLC                                                                              |   | Delaware                           |
| PM      Franchising, LLC                                                                                   |   | Delaware                           |
| PM      Brand and Marketing Fund, LLC*                                                                     |   | Delaware                           |
|                                                                                                       |   |                               |
| Pretzel      Time                                                                                          |   |                               |
| PT      Franchise Brands, LLC                                                                              |   | Delaware                           |
| PT      Franchising, LLC                                                                                   |   | Delaware                           |
| PT      Brand and Marketing Fund, LLC*                                                                     |   | Delaware                           |

----

| Shoe      Box                                                      |         |     |
|--------------------------------------------------------------------|--------------|----------|
| Shoe      Box Holdings, LLC                                        |         | Delaware |
| Shoe      Box Franchise Brands, LLC                                |         | Delaware |
| Shoe      Box Franchising, LLC                                     |         | Delaware |
| Shoe      Box Brand and Marketing Fund*                            |         | Delaware |
|                                                               |         |     |
| Waverly                                                            |         |     |
| WV      IP Holdings, LLC                                           |         | Delaware |
|                                                               |         |     |
| UCC:                                                               |         |     |
| UCC      Capital Corp. (formerly AHINV)                            |         | Delaware |
|                                                               |         |     |
| Aether:                                                            |         |     |
| Aether      Systems, Inc.                                          |         | Delaware |
| Aether      Capital, LLC                                           |         | Delaware |
| Cerulean      Technology, Inc. (formerly Aether Mobile Government) |    | Delaware |

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