EXHIBIT 21
SUBSIDIARIES OF THE REGISTRANT

OTHER WHOLLY-OWNED DIRECT OR
INDIRECT SUBSIDIARIES OF ITT
CARRYING ON THE SAME
LINE OF BUSINESS
AS NAMED SUBSIDIARIES
PERCENTAGE --------------------------------
JURISDICTION OF VOTING OPERATING OPERATING IN
IN WHICH SECURITIES IN THE FOREIGN
NAME ORGANIZED PARENT OWNED UNITED STATES COUNTRIES
- ----------------------------------------- -------------- ------------- --------------- -------------- ---------------

ITT Corporation ("ITT").................. Delaware -- -- -- --
First State Insurance Company.......... Connecticut ITT 100 2 --
International Standard Electric
Corporation
("ISEC")............................. Delaware ITT 100 -- --
ITT Delaware Investments, Inc. ...... Delaware ISEC 100 -- --
ITT Flygt AB......................... Sweden ISEC 100 1 15
ITT Gesellschaft fur
Beteiligungen mbH ("ITTG")....... Germany ISEC 100 -- 12
Deutsche ITT Handelsgesellschaft
mbH.............................. Germany ITTG 100 -- 5
ITT Automotive Europe GmbH......... Germany ITTG 100 -- 4
ITT Reiss International GmbH....... Germany ITTG 100 -- 1
Transatlantische Beteiligungs AG... Germany ITTG 100 -- 3
ITT World Directories Enterprises,
Inc. ("ITTWDE").................... Delaware ISEC 100 -- --
ITT World Directories Inc.......... Delaware ITTWDE 80 2 13
ITT Canada Limited ("Canada").......... Canada ITT 100 -- 1
ITT Industries of Canada Limited..... Canada Canada 100 -- 1
ITT Communications and Information
Services, Inc........................ Delaware ITT 100 -- --
ITT Federal Services Corporation....... Delaware ITT 100 7 3
ITT Financial Corporation ("ITTFC").... Delaware ITT 100 79 7
Computer & Equipment Leasing
Corporation ("CELCO").............. Wisconsin ITTFC 100 -- --
ITT Federal Bank, f.s.b............ U.S. CELCO 100 1 --
ITT Residential Capital Corporation
("ITTRC")........................ Delaware CELCO 100 -- --
ITT Residential Capital Servicing
Corporation.................... California ITTRC 100 -- --
ITT Business Services Corporation
("ITTBSC")....................... Missouri ITTFC 100 1 --
ITT Commercial Finance Corp........ Nevada ITTBSC 100 -- --
ITT Consumer Financial Corporation
("ITTCFC")......................... Delaware ITTFC 100 3 --
Aetna Finance Company.............. Delaware ITTCFC 100 -- --
ITT Lyndon Life Insurance Company.... Missouri ITTFC 100 -- --
ITT Lyndon National Life Insurance
Company............................ Missouri ITTFC 100 -- --
ITT Lyndon Property Insurance
Company............................ Missouri ITTFC 100 -- --
Lyndon Insurance Company............. Wisconsin ITTFC 100 -- 1
ITT Hartford Group, Inc. ("HGI")....... Delaware ITT 100 -- --
Hartford Fire Insurance Company
("Hartford")....................... Connecticut HGI 100 7 9
Hartford Accident & Indemnity
Company
("HAI").......................... Connecticut Hartford 100 1 --
Hartford Life and Accident
Insurance Company ("HLAI")..... Connecticut HAI 100 -- --
Hartford Life Insurance Company
("HLIC")..................... Connecticut HLAI 100 1 --
ITT Hartford Life and Annuity
Insurance Company.......... Wisconsin HLIC 100 -- --
Hartford International Insurance
Company
("HIIC")......................... Delaware Hartford 100 1 --
Hartford International Insurance
Company
SANV........................... Belgium HIIC 100 -- --
London & Edinburgh Insurance
Group,
Limited........................ England HIIC 100 -- 3
Zwolsche Algemeene N.V........... Netherlands HIIC 100 -- 3
ITT Industries, Inc.................... Delaware ITT 100 -- --
ITT Investment Holdings Inc.
("ITTIH")............................ Delaware ITT 100 -- --
ITT Resource Development Corporation
("ITTRDC")......................... Delaware ITTIH 100 2 --
Carbon Industries, Inc............. West Virginia ITTRDC 100 16 --
ITT Community Development
Corporation...................... Delaware ITTRDC 100 37 --
ITT Lester Industries, Inc............. Ohio ITT 100 -- --
ITT Sheraton Corporation............... Delaware ITT 100 68 28

Note: The names of some consolidated wholly-owned subsidiaries of ITT carrying
on the same lines of business as other subsidiaries named above have been
omitted, the number of such omitted subsidiaries operating in the United
States and in foreign countries being shown. Also omitted from the list
are the names of other subsidiaries since, if considered in the aggregate
as a single subsidiary, they would not constitute a significant
subsidiary.