EXHIBIT 21

                          SUBSIDIARIES OF CATUITY, INC.
                              AS OF MARCH 30, 2005

1. Chip Application Technologies Proprietary Limited is a 100% owned subsidiary
   located in Sydney, Australia.

2. CiT Cards (Australia) Pty Limited is a 100% owned subsidiary of Chip
   Application Technologies Proprietary Limited and is located in Sydney,
   Australia.