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

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

5.   iWeblabs, Inc. - incorporated in Texas and wholly owned by the Company