1 Exhibit 21 SUBSIDIARIES OF J.P. MORGAN & CO. INCORPORATED DECEMBER 31, 1999 ---------------------------------------------- J.P. MORGAN & CO. INCORPORATED DELAWARE SUBSIDIARIES OF J.P. MORGAN & CO. INCORPORATED - ---------------------------------------------- (All wholly owned, except where noted) J.P. Morgan Acceptance Corporation I Delaware J.P. Morgan Advisors Inc. Delaware J.P. Morgan Advisory Services Inc. Delaware J.P. Morgan Capital Asia Assets Ltd. Mauritius J.P. Morgan Capital Asia Holdings, LLC (47.50% owned) (10) Mauritius J.P. Morgan Capital Asia Investments Ltd. Mauritius J.P. Morgan Capital Bahamas Limited Commonwealth of The Bahamas J.P. Morgan Capital Corporation Delaware J.P. Morgan Capital Emerging Markets K Corporation Delaware J.P. Morgan Capital Nassau Limited Commonwealth of The Bahamas J.P. Morgan & Co. Limited United Kingdom J.P. Morgan Commercial Mortgage Finance Corp. Delaware J.P. Morgan Community Development Corporation Delaware 2 J.P. Morgan Commercial Mortgage Investment Corp. Delaware J.P. Morgan Communication Partnership Holdings Inc. Delaware Dai-Ichi Kangyo J.P. Morgan Investment Management Co. Ltd. (50% owned) (14) Japan J.P. Morgan Energy Partnership Corporation Delaware J.P. Morgan Florida Holdings Corp. (50% owned) (1) Delaware J.P. Morgan Franchise Loan Acceptance Corp. Delaware J.P. Morgan FSB Florida J.P. Morgan Funding Corp. United Kingdom J.P. Morgan Futures Inc. Delaware J.P. Morgan Futures Hong Kong Limited Crown Colony of Hong Kong J.P. Morgan Global Capital Limited (47.50% owned) (9) Commonwealth of The Bahamas J.P. Morgan GT Corporation Delaware J.P. Morgan Hotel Partnership Corporation Delaware J.P. Morgan Index Funding Company I (11) Delaware J.P. Morgan International Capital Corporation Delaware J.P. Morgan International Holdings Corp. Delaware J.P. Morgan Investment Corporation Delaware 3 J.P. Morgan Investment Management Inc. Delaware J.P. Morgan Leasefunding Corp. Delaware J.P. Morgan Life Assurance Limited United Kingdom J.P. Morgan Mortgage Funding Inc. Delaware J.P. Morgan News Partnership Corporation Delaware J.P. Morgan (1992-I) Foreign Sales Corporation Barbados J.P. Morgan Partnership Capital Corporation Delaware J.P. Morgan Partnership Investment Corporation Delaware J.P. Morgan Pine Street Corporation Delaware J.P. Morgan Private Investments Inc. Delaware J.P. Morgan Private Investments International Inc. Cayman Islands J.P. Morgan Real Estate Partnership Corporation Delaware J.P. Morgan Securities Holdings Inc. Delaware J.P. Morgan Securities Inc. Delaware J.P. Morgan Services Inc. Delaware J.P. Morgan Structured Finance Corp. Delaware J.P. Morgan Structured Obligations Corporation Delaware J.P. Morgan Technology Partnership Corporation Delaware 4 J.P. Morgan Trading and Finance United Kingdom J.P. Morgan Trust Company of Delaware Delaware J.P. Morgan Ventures Corporation Delaware J.P. Morgan Ventures Energy Corporation Delaware J.P. Morgan Whitney Partnership Corporation Delaware American Century Companies (12) Missouri Corsair, Inc. Delaware DNT Asset Trust Delaware Financial Institutions Network and Information Services (25% owned) Delaware JPMAC Holdings Inc. Delaware JPM Capital Trust I Delaware JPM Capital Trust II Delaware JPM Pork Partnership Corporation Delaware Morgan Fonciere Cayman Islands Ltd. Cayman Islands Morgan Guaranty Trust Company of New York New York Morgan Trust Company of The Bahamas Limited Commonwealth of The Bahamas Morgan Trust Company of the Cayman Islands Ltd. Cayman Islands 5 Peabody Real Estate Partnership Corporation Delaware The Peabody Fund Consultants, Inc. Delaware 721 Participacoes Limitada (99.99% owned) (7) Brazil Sixty Wall Street Corporation Delaware Trading and Finance Management Limited United Kingdom Ventures Business Trust Maryland SUBSIDIARIES OF MORGAN GUARANTY TRUST COMPANY OF NEW YORK - --------------------------------------------------------- Cedar Hill International Corp. Delaware J.P. Morgan Energy Products Inc. Delaware J.P. Morgan Interfunding Corp. Delaware J.P. Morgan Mortgage Capital Inc. Delaware J.P. Morgan V.E. 92 Ltd. New York MGT-EOC Nominees Limited United Kingdom Morgan Guaranty Executor and Trustee Company Limited United Kingdom Morgan Guaranty Nominees Bahamas Limited Commonwealth of The Bahamas Morprop Incorporated Delaware Oil Tankers Leasing Corporation New York Ship Holding Corp. 6 New York Whitkath Inc. New York Morgan Guaranty International Finance Corporation Section 25(a) of the Federal Reserve Act of the United States SUBSIDIARIES OF MORGAN GUARANTY INTERNATIONAL FINANCE CORPORATION - ------------------------------------------------------------ J.P. Morgan Argentina Sociedad de Bolsa S.A. (99.00% owned) (4) Argentina J.P. Morgan (Bahamas) Portfolio Co. Ltd. (77.06% owned) (13) Commonwealth of The Bahamas J.P. Morgan Benelux S.A./N.V. Kingdom of Belgium J.P. Morgan Casa de Bolsa, S.A. de C.V., J.P. Morgan Grupo Financiero (99.9980% owned) (8) Mexico City, Mexico J.P. Morgan Cayman Limited Cayman Islands J.P. Morgan & Cie S.A. France J.P. Morgan Chile Limitada (99.80% owned) (4) Chile J.P. Morgan Fonds (Luxembourg) S.A. Grand Duchy of Luxembourg J.P. Morgan Funds Bahamas Ltd. Commonwealth of The Bahamas J.P. Morgan Fund Services S.A. (99.09% owned) (4) Grand Duchy of Luxembourg J.P. Morgan GmbH (97.00% owned) (6) Federal Republic of Germany J.P. Morgan Grupo Financiero, S.A. de C.V. (99.00% owned) (4) Mexico City, Mexico J.P. Morgan Holding Deutschland GmbH (72.69% owned) (2) Federal Republic of Germany 7 J.P. Morgan International Ltd. Delaware J.P. Morgan Investimentos e Financas Ltda. Brazil J.P. Morgan Investment GmbH Federal Republic of Germany J.P. Morgan Japanese Fund Services S.A. (99.98% owned) (4) Grand Duchy of Luxembourg J.P. Morgan Japanese Investor Fund Services S.A. (99.98% owned) (4) Grand Duchy of Luxembourg J.P. Morgan Jersey Limited Jersey, The Channel Islands J.P. Morgan Malaysia Ltd. Labuan, Malaysia J.P. Morgan Overseas Capital Corporation Delaware J.P. Morgan Polska Sp. z o.o. Warsaw, Poland J.P. Morgan Scotland (Services) Ltd. United Kingdom J.P. Morgan Securities Asia Private Limited Republic of Singapore J.P. Morgan Securities India Private Limited India J.P. Morgan Securities South Africa (Proprietary) Limited South Africa J.P. Morgan Servicios, S.A. de C.V., J.P. Morgan Grupo Financiero (99.00% owned) (8) Mexico City, Mexico J.P. Morgan Services Ltd. Singapore J.P. Morgan Societa di Gestione del Risparmio S.p.A.. (99.90% owned) (4) Italy J.P. Morgan S.p.A. (99.99% owned) (4) Italy J.P. Morgan (Suisse) S.A. Switzerland 8 J.P. Morgan Trust Bank Ltd. (72.16% owned) (3) Japan J.P. Morgan Venezuela S.A. Venezuela Banco J.P. Morgan, S.A. (53.79% owned) (5) Brazil Banco J.P. Morgan, S.A., Institucion de Banca Multiple, J.P. Morgan Grupo Financiero (99.9997% owned) (8) Mexico City, Mexico JPM Corretora de Cambio, Titulos e Valores Mobiliarios S.A. Brazil Morgan Conseil S.A. France Morgan Guaranty Finance Limited Bermuda Morgan Guaranty International Bank Delaware Morgan Property Development Company Limited United Kingdom Pushkin Capital Ltd. (98% owned) (4) Moscow, Russia Federation ZAO J.P. Morgan Bank Moscow, Russia Federation SUBSIDIARIES OF J.P. MORGAN OVERSEAS CAPITAL CORPORATION - --------------------------------------------------------- J.P. Morgan Australia Holdings Limited Victoria, Australia J.P. Morgan Australia Pty Limited Victoria, Australia J.P. Morgan Australia Securities Limited Victoria, Australia J.P. Morgan Canada Ontario, Canada J.P. Morgan Espana S.A. Spain 9 J.P. Morgan Holdings (UK) Limited United Kingdom J.P. Morgan International Bank Limited United Kingdom J.P. Morgan Nederland N.V. Amsterdam, The Netherlands J.P. Morgan Nominees Pty. Limited Victoria, Australia J.P. Morgan Securities Canada Inc. Ontario, Canada J.P. Morgan Securities Hong Kong Ltd. Crown Colony of Hong Kong J.P. Morgan Securities Ltd. United Kingdom J.P. Morgan Sociedad de Valores, S.A. Spain J.P. Morgan Whitefriars Inc. Delaware J.P. Morgan Whitefriars (UK) United Kingdom Morgan Bank of Canada (Receivables Purchase Financing) Ltd. Ontario, Canada Morgan Gestion, S.A. Sociedad Gestora de Instituciones de Inversion Colectiva Spain Morgan Guaranty Trust Company Limited United Kingdom - ------------------------------- 1. J.P. MORGAN INTERNATIONAL HOLDINGS CORP. HAS A 50% NON-VOTING OWNERSHIP INTEREST. 2. J.P. MORGAN & CIE S.A. AND J.P. MORGAN SECURITIES LTD. HAVE A 7.49% AND 19.82% OWNERSHIP INTEREST RESPECTIVELY. 3. J.P. MORGAN & CIE S.A. OWNS PREFERRED SHARES CARRYING 27.84% VOTING POWER. 4. J.P. MORGAN OVERSEAS CAPITAL CORPORATION OWNS THE REMAINING MINORITY INTEREST IN THE COMPANY. 5. MORGAN GUARANTY INTERNATIONAL FINANCE CORPORATION HAS A 46.21% OWNERSHIP INTEREST. 6. MORGAN GUARANTY TRUST COMPANY OF NEW YORK HAS A 3% OWNERSHIP INTEREST. 7. J.P. MORGAN INVESTIMENTOS E FINANCAS LTDA. HAS A .01% OWNERSHIP INTEREST. 8. MORGAN GUARANTY INTERNATIONAL FINANCE CORPORATION OWNS THE REMAINING MINORITY INTEREST IN THE COMPANY. 9. J.P. MORGAN CAPITAL NASSAU LIMITED HAS A 47.5% OWNERSHIP INTEREST; SIXTY WALL STREET FUND, L.P. HAS A 5% OWNERSHIP INTEREST. 10 10. J.P. MORGAN CAPITAL ASIA ASSETS LTD. HAS A 47.5% OWNERSHIP INTEREST; SIXTY WALL STREET FUND, L.P. HAS A 5% OWNERSHIP INTEREST. 11. J.P. MORGAN VENTURES CORPORATION HAS A 1% OWNERSHIP INTEREST. 12. JPMAC HOLDINGS INC. HAS A 45% NON-VOTING OWNERSHIP INTEREST AND AN 8.7% VOTING INTEREST. 13. J.P. MORGAN & CIE S.A. AND J.P. MORGAN (SUISSE) S.A. HAVE AN 8% AND 14.94% OWNERSHIP INTEREST, RESPECTIVELY. 14. JOINT VENTURE WITH DAI-ICHI KANGYO BANK.