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<PAGE> 1
EXHIBIT 21.1
Page 1 of 2
<TABLE>
<CAPTION>
SCHEDULE OF SUBSIDIARIES OF BRADY CORPORATION
Percentage
of Voting
State (Country) Securities
Name of Company of Incorporation Owned
--------------- ---------------- ----------
<S> <C> <C>
Brady Corporation Wisconsin Parent
Brady Financial Delaware 100%
Braton Holding Co. Delaware 100%
Tricor Direct Inc.- Delaware 100%
Doing Business As:
Seton
Seton Name Plate Company
D&G Sign and Label Co.
Seton Identification Products
The Hirol Company
Worldmark of Wisconsin Inc. Delaware 100%
Brady Investment Co. Nevada 100%
Brady International Sales, Inc. U.S. Virgin Islands 100%
Brady International Co. Wisconsin 100%
Brady Worldwide, Inc. Wisconsin 100%
Also Doing Business As:
Varitronic Systems
Teklynx International
Barcodes West
Imtec, Inc. New Hampshire 100%
Data Recognition, Inc. Texas 100%
Brady Australia Pty. Ltd. Australia 100%
Also Doing Business As:
Visi Sign Pty.
Seton Australia Pty. Ltd. Australia 100%
W.H. Brady, N.V. Belgium 100%
W.H.B. do Brasil Ltda. Brazil 100%
B.I. Canada Incorporated Canada 100%
W.H.B. Identification Solutions, Inc.- Canada 100%
Doing Business As:
Brady
GrafTek
Revere-Seton
Seton
1167232 Ontario, Inc. Canada 100%
</TABLE>
<PAGE> 2
EXHIBIT 21.1
Page 2 of 2
<TABLE>
<CAPTION>
SCHEDULE OF SUBSIDIARIES OF BRADY CORPORATION (Continued)
Percentage
of Voting
State (Country) Securities
Name of Company of Incorporation Owned
--------------- ---------------- ------------
<S> <C> <C>
Brady (Wuxi) Co. Ltd. China 100%
B.I. Financial Limited England 100%
B.I. U.K. Limited England 100%
W.H. Brady Co. Ltd. England 100%
Seton Limited England 100%
Brady LettraSoft S.A France 100%
Braton Europe Eurl France 100%
Braton Groupe S.A.R.L. - France 100%
Doing Business As:
Brady
Techniques Avancees
Holman
Periprint
Tricor Group, S.A. - France 100%
Doing Business As:
Seton
Signals
W.H. Brady GmbH Germany 100%
Seton GmbH Germany 100%
Soft GmbH Germany 100%
Seton Italia, SRL Italy 100%
Nippon Brady K.K Japan 100%
Brady Korea Co., Ltd. Korea 100%
W. H. Brady S. de R.L. de C.V Mexico 100%
Brady Corporation S.E.A. Pte. Ltd. Singapore 100%
Brady Corporation Asia Pte. Ltd. . Singapore 100%
SOFT Iberica S.L Spain 100%
Brady AB Sweden 100%
Seton Scandinavia AB Sweden 100%
</TABLE>
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