EXHIBIT 21--  SUBSIDIARIES OF THE COMPANY,  JURISDICTION OF  INCORPORATION,  AND
PERCENTAGE OF OWNERSHIP

1.   United Shareholder Services,  Inc. - incorporated in Texas and wholly owned
     by the Company

2.   A & B Mailers, Inc. - incorporated in Texas and wholly owned by the Company

3.   Securities  Trust and Financial  Company - incorporated in Texas and wholly
     owned by the Company

4.   U.S.  Advisors  (Guernsey)  Limited -  incorporated  in  Guernsey,  Channel
     Islands and wholly owned by the Company

5.   U.S. Global Brokerage, Inc. - incorporated in Texas and wholly owned by the
     Company

6.   U.S. Global  Administrators,  Inc. - incorporated in Texas and wholly owned
     by the Company