Exhibit  21




The company's subsidiaries are:

                Name                                State of Organization
  ------------------------------------------        -----------------------
  Equitable Life Insurance Company of Iowa          Iowa corporation
  Equitable Investment Services, Inc.               Iowa corporation
  Equitable of Iowa Securities Network, Inc.        Iowa corporation
  Locust Street Securities, Inc.                    Iowa corporation
  Equitable of Iowa Companies Capital Trust         Delaware business trust


All are wholly-owned.

USG Annuity & Life Company, an Oklahoma corporation, and Equitable American
Insurance Company, an Iowa corporation, are wholly-owned subsidiaries of
Equitable Life Insurance Company of Iowa.  In addition, these entities own
other subsidiaries which are not considered in the aggregate to be a
significant subsidiary as defined in Securities and Exchange Commission
rules.

All subsidiaries do business only under their corporate names.