Exhibit 21

ESCALADE, INCORPORATED AND SUBSIDIARIES

List of Subsidiaries at December 30, 2006

State of Other Percent of Voting
Jurisdiction of Securities Owned
Incorporation by Parent
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Parent
Escalade, Incorporated Indiana, USA

Subsidiaries (1)
Indian Industries, Inc. Indiana, USA 100%
U.S. Weight, Inc. Illinois, USA 100%
Harvard Sports, Inc. California, USA 100%
Harvard California, S. DE R.L. C.V. B.C. Mexico 100%
Bear Archery, Inc. Florida, USA 100%
Escalade Sports Playgrounds, Inc. North Carolina, USA 100%
Martin Yale Industries, Inc. Indiana, USA 100%
Productos Maestros de Oficiina, S.A. DE C.V. B.C. Mexico 100%
Schleicher & Co. America North Carolina, USA 100%
Martin Yale International, GmbH Germany 100%
Olympia Business Systems North Carolina, USA 100%
Martin Yale International SARL France 100%
Martin Yale International Ltd England 100%
Taros Trading, GmbH Germany 100%
Indian-Martin, Inc. Nevada, USA 100%
EIM Company, Inc. Nevada, USA 100%
SOP Services, Inc. Nevada, USA 100%
Escalade Insurance, Inc. Nevada, USA 100%
Desmar Seguridad Y Archivo, S.L. Spain 100%

(1) Each subsidiary company so designated has been included in Consolidated
Financial Statements for all periods following its acquisition. See Notes to
Consolidated Financial Statements.