U.S. Global Investors, Inc. Annual Report on Form 10-K 1998 Page 60 - -------------------------------------------------------------------------------- EXHIBIT 21 -- SUBSIDIARIES OF THE REGISTRANT, JURISDICTION OF INCORPORATION AND PERCENTAGE OF OWNERSHIP 1. United Shareholder Services, Inc.; incorporated in Texas and wholly owned by the Registrant 2. A & B Mailers, Inc.; incorporated in Texas and wholly owned by the Registrant 3. Securities Trust and Financial Company; incorporated in Texas and wholly owned by the Registrant 4. U.S. Advisors (Guernsey) Limited; incorporated in Guernsey, Channel Islands and wholly owned by the Registrant 5. U.S. Global Brokerage, Inc.; incorporated in Texas and wholly owned by the Registrant