EXHIBIT 21 

                                 SUBSIDIARIES 



                                                STATE OR COUNTRY      PERCENTAGE 
COMPANY                                         OF INCORPORATION        OWNED 
- -------------------------------------------  --------------------  -------------- 
                                                             
Research in Acoustics, Inc..................   New York                  100% 
IAC Realty Corporation......................   New York                  100% 
IAC Development Corporation.................   New York                  100% 
Industrial Acoustics Company, Ltd...........   England                   100% 
Intra-Acoustics Company, Ltd................   Canada                    100% 
Industrial Acoustics Company, S.C. Inc. ....   South Carolina            100%