EXHIBIT 21 ---------- SUBSIDIARIES OF THE REGISTRANT ------------------------------ New Plan Realty Trust, the Registrant. New Plan Securities Corp., a New York corporation. New Plan Realty of Alabama, Inc., an Alabama corporation. Avion Service Corp., a Pennsylvania corporation. New Plan Realty of Kingsport, Inc., a Tennessee corporation. New Plan Factory Malls, Inc., a Delaware Corporation New Plan of Tara, Inc., a Delaware Corporation New Plan of Fashion Corners, Inc., a Delaware Corporation