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%