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                                                                      EXHIBIT 21
 
                          SUBSIDIARIES OF UST CORP.(*)
 
                                    USTRUST
                          UNITED STATES TRUST COMPANY
                              UST BANK/CONNECTICUT
                          UST LEASING CORPORATION(**)
                          UST DATA SERVICES CORP.(**)
                             UST CAPITAL CORP.(***)
 
  (*) Other than UST Bank/Connecticut which is a Connecticut trust company, each
      of the above subsidiaries of UST Corp. is a Massachusetts Corporation or
      trust company and each of the above entities does business only under its
      corporate name. The foregoing list does not include the names of inactive
      subsidiaries or the names of subsidiaries of banking entities which
      subsidiaries have been organized to hold foreclosed property, other assets
      held in satisfaction of debts previously contracted by the applicable
      banking entity or other leeway investments.
 
 (**) Wholly-owned by USTrust
 
(***) Wholly-owned by United States Trust Company
 
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