SUBSIDIARIES AND AFFILIATES OF THE REGISTRANT

Percentage of
Voting Securities
Jurisdiction Owned Directly or
in which Indirectly at
Name of Company Organized December 31, 1994*
- --------------- --------- ------------------

Caterpillar Inc. (Registrant) Delaware (Parent Company)

Affiliates of the Registrant:
Advanced Filtration Systems Inc. Delaware 50
Cyclean, Inc. Delaware 9.74
DUECO, Inc. Delaware 5
Health Plan of Central Illinois Inc. Illinois 18.5
Novotruck Russia 33.33
Peoria Medical Research Corporation Illinois 14.29
Rapisarda Industries, Srl Italy 25.01
Unoc Equipment and Supply, L.L.C. Delaware 30
Subsidiary:
A/O UNOC Equipment and Supply Russia 100

Subsidiaries of the Registrant:
Advanced Fuels, L.L.C. Delaware 51
Advanced Technology Services, Inc. Illinois 91.29
Anchor Coupling Inc. Delaware 100
A/O Nevamash Russia 65
Balderson Inc. Kansas 100
Carter Machinery Company, Incorporated Delaware 100
Caterpillar Americas Co. Delaware 100
Caterpillar Asia Pacific Holding Inc. Delaware 100
Subsidiaries:
Caterpillar Shanghai Engine Company Ltd. China 55
Caterpillar Xuzhou Ltd. China 60
Caterpillar Asia Pte. Ltd. Singapore 100
Caterpillar of Australia Ltd. Australia 100
Affiliates:
Energy Power Systems Australia Pty Limited Australia 50
Subsidiary:
Energy Power Systems PNG Pty Limited New Guinea 100
Caterpillar Brasil S. A. Brazil 100
Subsidiary:
Caterpillar Administracao e Participacoes S/C Ltda. Brazil 100
Caterpillar of Canada Ltd. Canada 100
Caterpillar Capital Company, Inc. Delaware 100
Caterpillar Commercial A/O Russia 100
Caterpillar Commercial N.V. Belgium 100
Affiliate:
Hindustan Powerplus Limited India 37.74
Subsidiary:
Caterpillar Group Services N.V. Belgium 100
Caterpillar Commercial Services Ltd. Canada 100
Caterpillar of Delaware, Inc. Delaware 100

Subsidiary:
Caterpillar Industrial Products, Inc. Delaware 100
Subsidiary:
Nexus International Inc. Delaware 100
Caterpillar Export Limited Virgin Islands 100
Caterpillar Financial Services Corporation Delaware 100
Affiliate:
Bio-energy Partners Illinois 50
Subsidiaries:
Caterpillar Finance France S.A. France 100
Caterpillar Financial Australia Limited Australia 100
Caterpillar Financial Leasing, S.A. Spain 100
Caterpillar Financial Corporacion Financiero S.A. Spain 100
Caterpillar Financial Nordic Services A.B. Sweden 100
Subsidiary:
Caterpillar Financial Services Norway AS Norway 100
Caterpillar Financial Receivables Inc. Delaware 100
Caterpillar Financial Services Holding GmbH Germany 100
Affiliates:
EDC European Excavator Design Center
GmbH & Co. KG Germany 40
EDC European Excavator Design Center
Verwaltungs GmbH Germany 40
Subsidiaries:
Caterpillar Leasing GmbH (Ismaning) Germany 100
Caterpillar Leasing GmbH (Leipzig) Germany 100
Caterpillar Financial Services Limited Canada 100
Caterpillar Financial Services (U.K.) Limited England 100
Caterpillar Financial Services N.V. Netherlands Antilles 100
Caterpillar Industrial Inc. Ohio 100
Affiliates:
Mitsubishi Caterpillar Forklift America Inc. Delaware 20
Affiliate:
Material Handling Associates, Inc. Delaware 50
Mitsubishi Caterpillar Forklift Asia Pte. Ltd. Singapore 20
Mistubishi Caterpillar Forklift Europe B.V. Netherlands 20
Rapidparts Inc. Michigan 50
Subsidiary:
Matchparts N.V. Belgium 50.5
Caterpillar Insurance Co. Ltd. Bermuda 100
Caterpillar Insurance Services Corporation Tennessee 100
Caterpillar Investment Management Ltd. Delaware 100
Caterpillar Logistics Services, Inc. Delaware 100
Subsidiary:
Caterpillar Logistics Services Belgium N.V. Belgium 100
Caterpillar Logistics Services Spain Spain 100
Caterpillar Overseas Credit Corporation S.A. Switzerland 100
Caterpillar Overseas S.A. Switzerland 100
Affiliates:
Caterpillar MHI Marketing Ltd. Japan 50
Shin Caterpillar Mitsubishi Ltd. Japan 50
Affiliates:
Aishin Co. Japan 40
D.O.M. Ltd. Japan 10
G. M. Kenki Lease Co. Japan 37.57
Hokken Service Co. Japan 40

Itoh Tekkosho Co., Ltd. Japan 34
K-Lea Co., Ltd. Japan 9.8
Rentec Co. Japan 10
Sowa System Co. Japan 35
Tunnel Rental Co., Ltd. Japan 9.5
Subsidiaries:
Chubu Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
CMEC Co., Ltd. Japan 100
CM Human Services Co., Ltd. Japan 100
East Chugoku Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
East Kanto Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
Affiliate:
Tone Lease Co. Japan 18.3
Hokkaido Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
Subsidiary:
Shin Hokken Ltd. Japan 100
Hokuetsu Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
Affiliates:
F. M. K. Co., Ltd. Japan 25
Hokuriku Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 51
Affiliate:
Dia Rental Hokuriku Co., Ltd. Japan 15
Kanagawa Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
Kansai Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
Kinki Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
Affiliate:
Rental Sanwa Co., Ltd. Japan 30
Koshin Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
North Kanto Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
Sagami GS Co., Ltd. Japan 100
SCM Operator Training Co., Ltd. Japan 100
SCM System Service Co., Ltd. Japan 100
Shizuoka Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 51
Tokyo Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
West Chugoku Caterpillar Mitsubishi Construction
Equipment Sales, Ltd. Japan 100
Affiliate:
Yeep Co. Japan 16.7
Tractor Engineers Limited India 50
Subsidiaries:
Caterpillar (Africa) (Proprietary) Limited South Africa 100
Caterpillar Belgium S. A. Belgium 100
Caterpillar Commercial APS Denmark 100

Caterpillar Commercial S.A.R.L. France 100
Caterpillar Commerciale S.r.L. Italy 100
Caterpillar Far East Limited Hong Kong 100
Subsidiaries:
Caterpillar China Limited Hong Kong 100
Caterpillar Asia Limited Hong Kong 100
Caterpillar France S.A. France 100
Caterpillar Hungary Component Manufacturing
Company Ltd. Hungary 85.7
Caterpillar Logistics Services Limited England 100
Mec-Track S.r.L. Italy 100
Caterpillar (U.K.) Limited England 100
P.T. Natra Raya Indonesia 80
Solar Turbines Canada Ltd. Canada 100
Solar Turbines S.A. Belgium 100
Caterpillar Paving Products Inc. Oklahoma 100
Subsidiary:
Caterpillar Materiels Routiers S.A. France 100
Caterpillar Securities Inc. Delaware 100
Caterpillar Risk Management Services Ltd. Delaware 100
Caterpillar Services Limited Delaware 100
Caterpillar World Trading Corporation Delaware 100
Caterpillar Mexico S.A. de C.V. Mexico 100
Subsidiary:
Inmobiliaria Conek, S.A. Mexico 100
Engine Service Specialists, Inc. Delaware 100
Subsidiaries:
Road Ready Inc. Delaware 100
RR-1 Limited Partnership Illinois 68.35
Solar Turbines Incorporated Delaware 100
Subsidiaries:
Compsolven Corporation California 100
OTSG, Inc. Delaware 100
Affiliate:
Innovative Steam Technologies California 50
Solar Turbines International Company Delaware 100
Affiliate:
Turboservices SDN BHD Malaysia 26
Subsidiaries:
Energy Services International Denmark Denmark 100
Energy Services International Limited Bermuda 100
Servtech Limited Ireland 100
Turbinas Solar S.A. de C.V. Mexico 100
Turbinas Solar de Venezuela, C.A. Venezuela 100
Turbo Tecnologia de Reparaciones S.A. de C.V. Mexico 100
Tecnologia Modificada S.A. de C.V. Mexico 100

____________________________
* Qualifying shares have been ignored in giving ownership percentage figures.

For further information see Notes to Consolidated Financial Statements
incorporated by reference from the 1995 Annual Meeting Proxy Statement.