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 New Plan Disbursing Corp., a Delaware Corporation New Plan Realty of Louisiana, Inc., a Delaware Corporation New Plan of Tennessee, Inc., a Delaware Corporation New Plan Realty of Louisiana, L.P., a Delaware limited partnership New Plan of Waterford Place, L.P., a Delaware limited partnership New Plan of Tennessee, L.P., a Delaware limited partnership New Plan of New Garden, Inc., a Delaware corporation