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EXHIBIT 21.1
SUBSIDIARIES OF
WATSON WYATT & COMPANY HOLDINGS
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<CAPTION>
Jurisdiction of Name(s) Under Which
Incorporation/ Such Subsidiary Does
Subsidiary Name Organization Business (if different)*
--------------- ---------------- -----------------------
<S> <C> <C>
Watson Wyatt Argentina S.A. Argentina
Watson Wyatt Australia Pty Ltd Australia
Wycomp Pty Ltd Australia
Watson Wyatt S.A. Belgium
G&H Consulting Actuaries B.V. Belgium
Watson Wyatt Brasil Ltda. Brazil
Watson Wyatt Company Limited Canada
Watson Wyatt Consultancy (Shanghai) Ltd. China
Watson Wyatt Colombia S.A. Colombia
Watson Wyatt S.A.R.L. France
Watson Wyatt GmbH Germany
Wyatt Bode Grabner GmbH Germany
Watson Wyatt International Pension Trustees Ltd. Guernsey, Channel Islands
Watson Wyatt Hong Kong Limited Hong Kong
Waston Wyatt Systems Ltd. Hong Kong
Watson Wyatt India Private Limited India
P.T. Watson Wyatt Purbajaga Indonesia
Watson Wyatt ISSO s.r.l. Italy
Watson Wyatt K.K. Japan
Watson Wyatt (Malaysia) Sdn. Bhd. Malaysia
Watson Wyatt Holdings (Mauritius) Limited Mauritius
Wyatt Internacional, S.A. de C.V. Mexico
Watson Wyatt Mexico, S.A. de C.V. Mexico
Watson Wyatt B.V. Netherlands
Watson Wyatt European Region B.V. Netherlands
Watson Wyatt New Zealand Limited New Zealand
Retirement Planning Seminars (NZ) Limited New Zealand
Retirement Trustees NZ Limited New Zealand
Watson Wyatt Philippines, Inc. Philippines
Watson Wyatt Puerto Rico, Inc. Puerto Rico
Watson Wyatt Singapore Pte. Ltd. Singapore
Watson Wyatt de Espana, S.A. Spain
Watson Wyatt A.B. Sweden
Watson Wyatt AG Switzerland
Watson Wyatt (Thailand) Ltd. Thailand
Graham & Company Limited U.K.
PCL (1991) Limited U.K.
PCL Limited U.K.
The Wyatt Company (UK) Limited U.K.
The Wyatt Company Holdings Limited U.K.
Watson Wyatt Holdings (Europe) Limited U.K.
Watson Wyatt Limited U.K.
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<TABLE>
<S> <C> <C>
Wyatt Financial Services Limited U.K.
Wyatt Pension Plan Trustee Limited U.K.
Watson Wyatt & Company U.S. Delaware
WW Merger Subsidiary, Inc. U.S. Delaware
Watson Wyatt Investment Consulting, Inc. U.S. Delaware
Wyatt Data Services, Inc. U.S. Delaware
Watson Wyatt International, Inc. U.S. Nevada
Watson Wyatt & Company II U.S. Nevada
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* All of these subsidiaries do business under their own name or under the
name Watson Wyatt Worldwide.
