EXHIBIT 21.1
SUBSIDIARIES OF THE REGISTRANT
(AS OF DECEMBER 31, 2002)
Account A and Account C have no subsidiaries. The following sets forth
the name and jurisdiction of incorporation of the subsidiaries of The
Northwestern Mutual Life Insurance Company.
<Table>
<Caption>
NAME OF SUBSIDIARY JURISDICTION OF INCORPORATION
- ------------------ -----------------------------
Alexandra International Sales, Inc. U.S. Virgin Islands
Amber, Inc. Delaware
Baird Financial Corporation Wisconsin
Baird Holding Company Wisconsin
Baraboo, Inc. Delaware
Bayridge, Inc. Delaware
Bradford, Inc. Delaware
Brendan International Sales, Inc. U.S. Virgin Islands
Brian International Sales, Inc. U.S. Virgin Islands
Burgundy, Inc. Delaware
Carlisle Ventures, Inc. Delaware
Cass Corporation Delaware
Chateau, Inc. Delaware
Coral, Inc. Delaware
Diversey, Inc. Delaware
Elderwood International Sales, Inc. U.S. Virgin Islands
Elizabeth International Sales, Inc. U.S. Virgin Islands
Elizabeth Lakes Associates Michigan
Frank Russell Company Washington
Frank Russell Investment Management Company Washington
Green Room Properties, LLC Delaware
Hazel, Inc. Delaware
Higgins, Inc. Delaware
Highbrook International Sales, Inc. U.S. Virgin Islands
Hobby, Inc. Delaware
INV Corp. Delaware
Jack International Sales, Inc. U.S. Virgin Islands
Justin International FSC, Inc. U.S. Virgin Islands
JYD, LLC Delaware
KerryAnne International Sales, Inc. U.S. Virgin Islands
Klode, Inc. Delaware
Kristiana International Sales, Inc. U.S. Virgin Islands
Lake Bluff, Inc. Delaware
Larkin, Inc. Delaware
Logan, Inc. Delaware
Lydell, Inc. Delaware
Mallon International Sales, Inc. U.S. Virgin Islands
Maroon, Inc. Delaware
Mason & Marshall, Inc. Delaware
Mason Street Advisors, LLC Delaware
Mason Street Funds, Inc. Maryland
Mitchell, Inc. Delaware
NMIS Alabama Agency, LLC Alabama
NMIS Massachusetts Insurance Agency, LLC Massachusetts
NMIS Georgia Agency, LLC Georgia
NML Buffalo Agency, Inc. New York
NML-CBO, LLC Delaware
NML Development Corporation Delaware
</Table>
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<Table>
<Caption>
NAME OF SUBSIDIARY JURISDICTION OF INCORPORATION
- ------------------ -----------------------------
NML/Mid-Atlantic, Inc. New Jersey
NML Real Estate Holdings, LLC Wisconsin
NML Securities Holdings, LLC Wisconsin
NML/Tallahassee, Inc. Florida
NW Pipeline, Inc. Texas
Network Planning Advisors, LLC Wisconsin
New Arcade, LLC Wisconsin
New Arcade Parking, LLC Wisconsin
Nicolet, Inc. Delaware
North Van Buren, Inc. Delaware
Northwestern Foreign Holdings B.V. Netherlands
Northwestern International Holdings, Inc. Delaware
Northwestern Investment Management Company, LLC Delaware
Northwestern Long Term Care Insurance Company Illinois
Northwestern Mutual Investment Services, LLC Wisconsin
Northwestern Mutual Las Vegas, Inc. Nevada
Northwestern Mutual Life International, Inc. Delaware
Northwestern Mutual Series Fund, Inc. Maryland
Northwestern Mutual Trust Company Federal Savings Bank
(subject to jurisdiction of the
Office of Thrift Supervision)
Northwestern Real Estate Partnership Holdings, LLC Delaware
Northwestern Reinsurance Holdings N.V. Netherlands
Northwestern Securities Holdings, LLC Delaware
Northwestern Securities Partnership Holdings, LLC Delaware
Olive, Inc. Delaware
PBClub, Inc. Delaware
Painted Rock Development Corporation Arizona
Park Forest Northeast, Inc. Delaware
Pembrook, Inc. Delaware
RE Corporation Delaware
Regina International Sales, Inc. U.S. Virgin Islands
Robert W. Baird & Co. Incorporated Wisconsin
Rocket Sports, Inc. Texas
Russet, Inc. Delaware
Ryan, Inc. Delaware
Saskatoon Centre, Limited Ontario, Canada
Sean International Sales, Inc. U.S. Virgin Islands
Solar Resources, Inc. Wisconsin
St. James Apartments, LLC Delaware
Stadium and Arena Management, Inc. Delaware
Summerhill Management, LLC Delaware
Summerhill Property, LLC Delaware
Summit Mall, LLC Delaware
The Grand Avenue Corporation Wisconsin
Travers International Sales, Inc. U.S. Virgin Islands
Tupelo, Inc. Delaware
White Oaks, Inc. Delaware
</Table>
Certain non-insurance subsidiaries are omitted on the basis that,
considered in the aggregate, they did not constitute a significant subsidiary as
defined by Regulation S-X at December 31, 2002.
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