ARTESIAN RESOURCES CORPORATION AND SUBSIDIARY COMPANIES
Subsidiaries of Registrant
The following list includes the Registrant and all of its subsidiaries as of December 31, 2012. The voting equity interests of each company shown is owned, to the extent indicated by the percentage, by the company immediately above, which is not indented to the same degree. All subsidiaries of the Registrant appearing in the following table are included in the consolidated financial statements of the Registrant and its subsidiaries.
| Name of Company | State of Incorporation | Percentage of Voting Equity Interests Owned |
| Artesian Resources Corporation | Delaware | |
| Artesian Water Company, Inc. | Delaware | 100 |
| Artesian Water Pennsylvania, Inc. | Pennsylvania | 100 |
| Artesian Water Maryland, Inc. | Delaware | 100 |
| Artesian Development Corporation | Delaware | 100 |
| Artesian Wastewater Management, Inc. | Delaware | 100 |
| Artesian Wastewater Maryland, Inc. | Delaware | 100 |
| Artesian Utility Development, Inc. | Delaware | 100 |
| Artesian Consulting Engineers, Inc. | Delaware | 100 |