Exhibit 21

         SUBSIDIARIES OF THE REGISTRANT



                                                           STATE OR OTHER JURISDICTION OF
         NAME, ADDRESS AND TELEPHONE NUMBER                INCORPORATION OR ORGANIZATION
         ----------------------------------                -----------------------------
                                                        
         Amscan Inc. ...............................       New York
         Trisar, Inc. ..............................       California
         Am-Source, LLC.............................       Rhode Island
         Anagram International, Inc. ...............       Minnesota
         Anagram International Holdings, Inc........       Minnesota
         Anagram International, LLC.................       Nevada
         M&D Balloons, Inc. ........................       Delaware
         SSY Realty Corp. ..........................       New York
         JCS Realty Corp. ..........................       New York
         Anagram Eden Prairie Property Holdings LLC.       Delaware



The address of these subsidiaries is 80 Grasslands Road, Elmsford, New York
10523. Their telephone number is (914) 345-2020.