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                          LIST OF REGISTRANT'S SUBSIDIARIES



A.   ORIENTAL BANK AND TRUST-  commercial bank organized and existing under the
     laws of the Commonwealth of Puerto Rico.

     SUBSIDIARIES OF ORIENTAL BANK AND TRUST:

     1.   Oriental Financial Services Corp.-corporation organized and existing
          under the laws of the Commonwealth of Puerto Rico.
     2.   Eastern Services Corporation- corporation organized and existing under
          the laws of the Commonwealth of Puerto Rico.
     3.   Oriental Funding Corporation- corporation organized and existing under
          the laws of the Commonwealth of Puerto Rico.
     4.   Eastern Funding Corporation- corporation organized and existing under
          the laws of the Commonwealth of Puerto Rico.
     5.   Oriental Mortgage Corporation- corporation organized and existing
          under the laws of the Commonwealth of Puerto Rico.