EXHIBIT (21) SUBSIDIARIES PERCENTAGE OF VOTING SECURITIES OWNED OR SUBJECT TO VOTING CONTROL BY ---------------------------------- COMPANY OTHER ---------------- --------------- Shakespeare Company, a Delaware corporation.............................. 100% Subsidiaries of Shakespeare Company: Shakespeare (Hong Kong) Ltd., a Hong Kong corporation....................... 100% Pacific Rim Metallic Products Ltd., a Hong Kong corporation.................. 100% Shakespeare (Aust) Pty. Ltd., an Austra- lian corporation....................... 100% Shakespeare Hengelsport, B.V., a Dutch corporation............................ 100% Shakespeare International Ltd., a Brit- ish corporation........................ 100% Subsidiaries of Shakespeare Interna- tional Ltd.: Shakespeare Company (UK) Ltd., a Brit- ish corporation...................... 100% Shakespeare Monofilament U.K. Ltd., a British corporation.................. 100% Sitca Corporation, a Washington corpora- tion..................................... 100% Subsidiaries of Sitca Corporation: K-2 Corporation, an Indiana corporation. 100% Subsidiaries of K-2 Corporation: Madshus A.S., a Norwegian corporation. 100% K-2 Ski Sport, und Mode, GmbH, a Ger- man corporation...................... 100% SMCA, Inc., a Minnesota corporation....... 100% Subsidiary of SMCA, Inc.: Stearns Manufacturing Company, a Minne- sota corporation....................... 100% Girvin Inc., a Delaware corporation....... 100% Dana Design Ltd., a Montana corporation... 100%