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Exhibit 21
LIBERTÉ INVESTORS INC.
Listing of Subsidiaries of the Company
The Company has no parent.
At June 30, 2003, the subsidiary of the Company was as follows:
Organized | Percentage of | ||||||
Under the | Voting securities | ||||||
Name of subsidiary | Laws of | Owned by the Registrant | |||||
LNC Holdings Inc. | Nevada | 100 | % |