EXHIBIT 21

                          SUBSIDIARIES OF UST CORP.(*)

                                     USTrust
                           United States Trust Company
                              UST Bank/Connecticut
                            JSA Financial Corporation
                           UST Leasing Corporation(**)
                            UST Securities Corp.(**)
                             UST Capital Corp.(***)

    (*) Other than UST  Bank/Connecticut  which is a Connecticut  trust company,
        each  of  the  above  subsidiaries  of  UST  Corp.  is  a  Massachusetts
        Corporation  or  trust  company  and  each of the  above  entities  does
        business only under its  corporate  name.  The  foregoing  list does not
        include the names of inactive  subsidiaries or the names of subsidiaries
        of banking  entities  which  subsidiaries  have been  organized  to hold
        foreclosed  property,  or other  assets  held in  satisfaction  of debts
        previously contracted by the applicable banking entity.

   (**) Wholly-owned by USTrust

  (***) Wholly-owned by United States Trust Company