MORGAN STANLEY DEAN WITTER & CO. -------------------------------- As of January 26, 1999
Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- Dean Witter Alliance Capital Corporation Delaware 1993 Dean Witter Asset Corporation Delaware 1992 Dean Witter Capital Corporation Delaware 1987 Dean Witter Advisers Inc. Delaware 1989 Dean Witter Capital Advisers Inc. Delaware 1989 DW Administrators Inc. Delaware 1989 DW Window Coverings Holding, Inc. Delaware 1988 Dean Witter Futures and Currency Management Inc. Delaware 1987 Dean Witter Realty Inc. Delaware 1982 Cool Springs Inc. Massachusetts 1991 Dean Witter Global Realty Inc. Delaware 1995 Dean Witter Holding Corporation Delaware 1983 Civic Center Leasing Corporation Delaware 1983 Lee Leasing Corporation Delaware 1982 Lewiston Leasing Corporation Delaware 1983 Sartell Leasing Corporation Delaware 1982 Dean Witter Leasing Corporation Delaware 1982 Dean Witter Realty Credit Corporation Delaware 1982 Dean Witter Realty Fourth Income Properties Inc. Delaware 1986 Dean Witter Realty Growth Properties Inc. Delaware 1985 Dean Witter Realty Income Associates I Inc. Delaware 1983 Dean Witter Realty Income Associates II Inc. Delaware 1984 Dean Witter Realty Income Properties I Inc. Delaware 1983 Dean Witter Realty Income Properties II Inc. Delaware 1984 Dean Witter Realty Income Properties III Inc. Delaware 1985 Dean Witter Realty Yield Plus Assignor Inc. Delaware 1987 Dean Witter Realty Yield Plus Inc. Delaware 1987 Dean Witter Realty Yield Plus II Inc. Delaware 1988 DW Arboretum Plaza Inc. Delaware 1992 DW Bennington Property Inc. Delaware 1993 DW Chesterbrook Investors Inc. Delaware 1992 DW Duportail Investors Inc. Delaware 1992 DW Greycoat Inc. Delaware 1993 Green Orchard Inc. Massachusetts 1991 LLJV Funding Corporation Massachusetts 1984 Realty Management Services Inc. Delaware 1982 Dean Witter Reynolds Inc. Delaware 1968 Dean Witter Reynolds Insurance Agency (Massachusetts) Inc. Massachusetts 1975 Dean Witter Reynolds Insurance Agency (Ohio) Inc. Ohio 1977 Dean Witter Reynolds Insurance Agency (Oklahoma) Inc. Oklahoma 1976 Dean Witter Reynolds Insurance Agency (Texas) Inc. Texas 1978 Dean Witter Reynolds Insurance Services (Alabama) Inc. Alabama 1991 Dean Witter Reynolds Insurance Services (Arizona) Inc. Arizona 1974 Dean Witter Reynolds Insurance Services (Arkansas) Inc. Arkansas 1977 Dean Witter Reynolds Insurance Services (Illinois) Inc. Illinois 1975 (Dean Witter Reynolds Inc. - cont'd)
Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- Dean Witter Reynolds Insurance Services Inc. Delaware 1972 Dean Witter Reynolds Insurance Agency (Indiana) Inc. Indiana 1975 FD Insurance Services, Inc. Delaware 1997 FD Insurance Services of Nevada, Inc. Nevada 1997 FD Insurance Services of New Mexico, Inc. New Mexico 1997 FD Insurance Services of Texas, Inc. Texas 1997 Dean Witter Reynolds Insurance Services, Inc. (Puerto Rico) Puerto Rico 1987 Dean Witter Reynolds Insurance Services (Maine) Inc. Maine 1995 Dean Witter Reynolds Insurance Services (Montana) Inc. Montana 1977 Dean Witter Reynolds Insurance Services (New Hampshire) Inc. New Hampshire 1977 Dean Witter Reynolds Insurance Services (South Dakota) Inc. South Dakota 1977 Dean Witter Reynolds Insurance Services (Wyoming) Inc. Wyoming 1977 DWR Special Partners Inc. Delaware 1982 Dean Witter Reynolds International Incorporated Delaware 1978 Dean Witter Reynolds GmbH Germany 1974 Dean Witter Reynolds (Hong Kong) Limited Hong Kong 1979 Dean Witter Reynolds International, Inc. Panama 1959 Dean Witter Reynolds (Geneva) S.A. Switzerland 1991 Dean Witter International Ltd. U.K. 1988 Dean Witter Capital Markets International Ltd. (U.K.) U.K. 1987 Dean Witter Futures Limited U.K. 1977 Dean Witter Reynolds Limited U.K. 1968 Dean Witter Reynolds International, S.A. France 1979 Dean Witter Reynolds (Lausanne) S.A. Switzerland 1973 Dean Witter Reynolds (Lugano) S.A. Switzerland 1989 Dean Witter Reynolds S.p.A. Italy 1978 Morgan Stanley Dean Witter Trust Company (Cayman) Ltd. Cayman Islands 1998 Dean Witter Reynolds Partners Inc. Delaware 1982 Dean Witter Reynolds Venture Equities Inc. Delaware 1981 Dean Witter Venture Management Inc. Delaware 1986 Dean Witter Venture Inc. Delaware 1993 Demeter Management Corporation Delaware 1977 DWD Electronic Financial Services Inc. Delaware 1997 Discover Brokerage Direct Inc. California 1992 Bay One Technologies Group, Inc. California 1996 DWR Partnership Administrators Inc. Delaware 1989 Morgan Stanley Dean Witter Advisors Inc. Delaware 1992 Morgan Stanley Dean Witter Services Company Inc. Delaware 1994 Morgan Stanley Dean Witter Distributors Inc. Delaware 1992 Morgan Stanley Dean Witter Trust FSB Federal Charter 1996 NOVUS Credit Services Inc. Delaware 1960 Bank of New Castle Delaware 1988 Discover Card Bank Limited Gibraltar 1992 Discover Services Corporation Delaware 1990 Greenwood Trust Company Delaware 1911 Morgan Stanley Dean Witter Bank, Inc. Utah 1990 Mountain Receivables Corp. Delaware 1996 NCL Investments, Inc. Delaware 1997 NOVUS Consumer Discount Company Pennsylvania 1967 (NOVUS Credit Services Inc. - cont'd) NOVUS Financial Corporation Delaware 1969
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Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- NOVUS Financial Corporation of Iowa Iowa 1977 NOVUS Financial Corporation of Minnesota Minnesota 1994 NOVUS Financial Corporation of Tennessee Tennessee 1975 NOVUS Financial Corporation of Washington Washington 1991 NOVUS Services (Canada), Inc. Canada 1985 NOVUS Services, Inc. Delaware 1985 SCFC Receivables Corp. Delaware 1989 Discover Receivables Financing Corporation Delaware 1989 Discover Receivables Financing Group, Inc. Delaware 1990 SCFC Receivables Financing Corporation Delaware 1988 SPS Transaction Services, Inc. Delaware 1991 Utah Receivables Financing Corporation Delaware 1997 One Water Corporation Massachusetts 1985 Open Road Airways, Inc. Delaware 1998 Reynolds Securities Inc. Delaware 1978 Tempo-GP, Inc. Delaware 1986 Tempo-LP, Inc. Delaware 1986
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Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- Fourth Street Development Co. Incorporated Delaware 1990 Fourth Street Ltd. Delaware 1990 Jolter Investments Inc. Delaware 1989 Morgan Rundle Inc. Delaware 1978 MR Ventures Inc. Delaware 1982 Morgan Stanley & Co. Incorporated Delaware 1969 Morgan Stanley Flexible Agreements Inc. Delaware 1992 MS Securities Services Inc. Delaware 1981 Prime Dealer Services Corp. Delaware 1994 Morgan Stanley ABS Capital I Inc. Delaware 1997 Morgan Stanley ABS Capital II Inc. Delaware 1997 Morgan Stanley Advisory Partnership Inc. Delaware 1985 Morgan Stanley Asset Funding Inc. Delaware 1997 Morgan Stanley Asset Management (CPO) Inc. Delaware 1996 Morgan Stanley Baseball, Inc. Delaware 1989 Morgan Stanley Capital Group Inc. Delaware 1984 South Eastern Electric Development Corporation Delaware 1998 Morgan Stanley Capital I Inc. Delaware 1985 Morgan Stanley Capital International Inc. Delaware 1998 Morgan Stanley Capital International S.A. Switzerland 1998 Morgan Stanley Capital (Jersey) Limited Jersey, Channel Is. 1987 Morgan Stanley Capital Partners III, Inc. Delaware 1993 Morgan Stanley Capital Services Inc. Delware 1985 Morgan Stanley Commercial Mortgage Capital, Inc. Delaware 1994 Morgan Stanley Dean Witter Commodities Management Inc. Delaware 1992 Morgan Stanley Dean Witter Equity Funding, Inc. Delaware 1998 Morgan Stanley Dean Witter Investment Group Inc. Delaware 1999 Morgan Stanley Dean Witter Investment Management Inc. Delaware 1980 Morgan Stanley Dean Witter Investment Management Holdings Inc. Delaware 1995 Miller Anderson & Sherrerd, LLP Pennsylvania 1971 MAS Fixed Income Partnership I, L.P. Delaware 1995 MAS Fixed Income I, LLC Delaware 1995 MAS Fixed Income Partnership II, LP Delaware 1995 MAS Fixed Income II, LLC Delaware 1995 MAS Fund Distribution, Inc. Pennsylvania 1992 Morgan Stanley Dean Witter Global Franchise Inc. Delaware 1997 Morgan Stanley Dean Witter Municipal Funding, Inc. Delaware 1998 Morgan Stanley Dean Witter Principal Funding, Inc. Delaware 1998 Morgan Stanley Dean Witter Wealth Management, Inc. Delaware 1998 Morgan Stanley Derivative Products Inc. Delaware 1994 Morgan Stanley Developing Country Debt II, Inc. Delaware 1991 Morgan Stanley Emerging Markets Inc. Delaware 1990 Morgan Stanley Emerging Markets Debt Opportunity Fund, LLC Delaware 1998 Morgan Stanley Equity (C.I.) Limited Jersey, Channel Is. 1995 Morgan Stanley Equity Finance Limited England 1997 Morgan Stanley Equity Investors Inc. Delaware 1988 Morgan Stanley Finance (Jersey) Limited Jersey, Channel Is. 1990 Morgan Stanley Funding, Inc. Delaware 1997 Morgan Stanley Global Emerging Markets, Inc. Delaware 1996 Morgan Stanley Insurance Agency Inc. Delaware 1985 Morgan Stanley International Incorporated Delaware 1963
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Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- Bank Morgan Stanley AG Switzerland 1973 Cabot Aircraft Services Limited Ireland 1997 Morgan Stanley AOZT Russia 1994 Morgan Stanley Asia (China) Limited Hong Kong 1991 Morgan Stanley Asia Holdings I Inc. Delaware 1990 Morgan Stanley Asia Holdings II Inc. Delaware 1990 Morgan Stanley Asia Holdings III Inc. Delaware 1990 Morgan Stanley Asia Holdings IV Inc. Delaware 1990 Morgan Stanley Asia Holdings V Inc. Delaware 1990 Morgan Stanley Asia Holdings VI Inc. Delaware 1990 Morgan Stanley Asia Pacific (Holdings) Limited Cayman Islands 1995 Morgan Stanley Asia Regional (Holdings) II LLC Cayman Islands 1995 Morgan Stanley Asia Regional (Holdings) III LLC Cayman Islands 1995 Morgan Stanley Dean Witter Asia (Singapore) Pte Rep. of Singapore 1992 Morgan Stanley Dean Witter Investment Management Company Rep. of Singapore 1990 Morgan Stanley Dean Witter Capital Group (Singapore) Pte Rep. of Singapore 1990 Morgan Stanley Dean Witter Futures (Singapore) Pte Rep. of Singapore 1992 Morgan Stanley Asia Regional (Holdings) IV LLC Cayman Islands 1995 Morgan Stanley Dean Witter (Hong Kong) Holdings Hong Kong 1998 MSDW Asia Securities Products LLC Cayman Islands 1995 Morgan Stanley Asia Limited Hong Kong 1984 Morgan Stanley Futures (Hong Kong) Limited Hong Kong 1988 Morgan Stanley Hong Kong Securities Limited Hong Kong 1988 Morgan Stanley Pacific Limited Hong Kong 1987 MSDW-JL Holdings I Limited Cayman Islands 1998 Morgan Stanley Japan (Holdings) Ltd. Cayman Islands 1984 Fosbury Investments Cooperatie U.A. The Netherlands 1998 Morgan Stanley Japan Limited Hong Kong 1993 Morgan Stanley Asia (Taiwan) Ltd. Rep. of China 1990 Morgan Stanley Asset & Investment Trust Management Co., Limited Japan 1987 Morgan Stanley Asset Management S.A. Luxembourg 1988 Morgan Stanley Australia Limited Australia 1989 Morgan Stanley Australia Securities Limited Australia 1997 Morgan Stanley Canada Limited Canada 1982 Morgan Stanley Capital SA France 1989 Morgan Stanley Capital (Luxembourg) S.A. Luxembourg 1993 Morgan Stanley Dean Witter (Espana) SA Spain 1998 Morgan Stanley Dean Witter (Europe) Limited England 1998 Morgan Stanley Group (Europe) England 1988 Morgan Stanley Dean Witter Investment Management Limited England 1986 Morgan Stanley Capital Group Limited England 1993 Morgan Stanley (Europe) Limited England 1993 Morgan Stanley Finance plc England 1993 Morgan Stanley Properties Limited England 1986 Morgan Stanley Property Management (UK) Limited England 1987 Morgan Stanley Services (UK) Limited England 1993 Morgan Stanley (Structured Products) Jersey Limited Jersey, Channel Is. 1994
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Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- (Morgan Stanley Group (Europe) - cont'd) Morgan Stanley UK Group England 1976 Morgan Stanley & Co. International Limited England 1986 Morgan Stanley Funding Limited Jersey, Channel Is. 1997 Morgan Stanley International Nominees Limited England 1994 Morgan Stanley & Co. Limited England 1986 Morgan Stanley Securities Limited England 1986 Morstan Nominees Limited England 1986 MSDW Equity (UK) Plc England 1998 MS Leasing UK Limited England 1991 Morgan Stanley Holding (Deutschland) GmbH Germany 1990 Morgan Stanley Bank AG Germany 1986 Morgan Stanley Hong Kong Nominees Limited Hong Kong 1988 Morgan Stanley International Insurance Ltd. Bermuda 1995 Morgan Stanley Latin America Incorporated Delaware 1994 Morgan Stanley Administadora de Carteiras Ltda. Brazil 1996 Morgan Stanley do Brasil Ltda. Brazil 1995 Morgan Stanley Dean Witter Distributidora de Titulos e Valores Mobilarios SA Brazil 1998 Morgan Stanley Financial Products Ltd. Cayman Islands 1997 MSLA Advisors Incorporated Delaware 1995 Morgan Stanley Mauritius Company Limited Mauritius 1993 Morgan Stanley Dean Witter Investment Management Private Limited India 1993 Morgan Stanley India Securities Limited India 1995 Morgan Stanley India Private Limited India 1995 Morgan Stanley Middle East Inc. Delaware 1997 Morgan Stanley Offshore Investment Company Ltd. Cayman Islands 1987 Morgan Stanley Principal Finance Ltd. England 1997 Morgan Stanley S.A. France 1992 Morgan Stanley Dean Witter (France) SA France 1998 Morgan Stanley Services (Jersey) Limited Jersey, Channel Is. 1997 Morgan Stanley South Africa (Pty) Limited South Africa 1994 Morgan Stanley SPV I (Cayman Islands) LLC Cayman Islands 1996 Farlington Corporation Ireland 1996 ITALSEC S.r.l. Italy 1996 Morgan Stanley SPV II (Cayman Islands) LLC Cayman Islands 1996 Morgan Stanley (Thailand) Limited Thailand 1997 Morgan Stanley Trading Beteiligungs-GmbH Germany 1993 Morgan Stanley Trading GmbH & Co. KG Germany 1994 Morgan Stanley Wertpapiere GmbH Germany 1989 MS Balmoral Inc. Cayman Islands 1997 MS Italy (Holdings) Inc. Delaware 1990 Banca Morgan Stanley SpA Italy 1990 MS LDC, Ltd. Delaware 1991 MSAM/Kokusai (Cayman Islands), Inc. Cayman Islands 1996 MSL Incorporated Delaware 1976 Morgan Stanley (Jersey) Limited Jersey, Channel Is. 1986 Morgan Stanley LEF I, Inc. Delaware 1989 Morgan Stanley Leveraged Capital Fund Inc. Delaware 1985
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Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- Morgan Stanley Leveraged Equity Fund II, Inc. Delaware 1987 Morgan Stanley Capital Partners Asia Limited Hong Kong 1992 Morgan Stanley Leveraged Equity Holdings Inc. Delaware 1987 Morgan Stanley Market Products Inc. Delaware 1987 Morgan Stanley Mortgage Capital Inc. New York 1984 Morgan Stanley Overseas Finance Ltd. Cayman Islands 1997 Morgan Stanley Overseas Services (Jersey) Limited Jersey, Channel Is. 1986 Morgan Stanley Real Estate Investment Management Inc. Delaware 1990 Morgan Stanley Real Estate Fund, Inc. Delaware 1989 MSREF I, L.L.C. Delaware 1995 MSREF I-CO, L.L.C. Delaware 1995 Morgan Stanley Real Estate Investment Management II, Inc. Delaware 1994 MSREF II-CO, L.L.C. Delaware 1995 Morgan Stanley Realty Incorporated Delaware 1969 BH-MS Realty Inc. Delaware 1983 BH-MS Leasing Inc. Delaware 1983 BH-Sartell Inc. Delaware 1983 Brooks Harvey & Co., Inc. Delaware 1971 Brooks Harvey of Florida, Inc. Florida 1978 DP Properties, Inc. Japan 1991 Japan Realty Finance Company Cayman Islands 1998 Japan Realty Holding Company Cayman Islands 1998 Kearny Global, Inc. Delaware 1998 Kearny Global Investors, K.K. Japan 1998 Kearny Real Estate Company Delaware 1998 KG-Sub Y.K. Japan 1998 Morgan Stanley Realty of California Inc. California 1970 Morgan Stanley Realty of Illinois Inc. Delaware 1989 Morgan Stanley Realty Japan Ltd. Japan 1998 The Morgan Stanley Scholarship Fund Inc. (Not-For-Profit) Delaware 1985 Morgan Stanley Securitization Funding Inc. Delaware 1998 Morgan Stanley Senior Funding, Inc. Delaware 1996 Morgan Stanley Services Inc. Delaware 1988 Morgan Stanley Structured Products (Cayman) I Limited Cayman Islands 1997 Morgan Stanley Structured Products (Cayman) II Limited Cayman Islands 1997 Morgan Stanley Technical Services Inc. Delaware 1989 Morgan Stanley Technical Services MB/VC Inc. Delaware 1993 Morgan Stanley Venture Capital Inc. Delaware 1984 Morgan Stanley Venture Capital II, Inc. Delaware 1992 Morgan Stanley Venture Capital III, Inc. Delaware 1996 Morgan Stanley Ventures Inc. Delaware 1984 Morstan Development Company, Inc. Delaware 1971 Moranta, Inc. Georgia 1979 Porstan Development Company, Inc. Oregon 1982 MS 10020, Inc. Delaware 1994 MS 10036, Inc. Delaware 1996 MS Capital Cayman Ltd. Cayman Islands 1997 MS Capital Holdings Inc. Delaware 1997 Morgan Stanley Capital (Delaware) L.L.C. Delaware 1997 MS Financing Inc. Delaware 1986 Corso Marconi Immobiliare Limited Liability Company Delaware 1998
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Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- Morgan Stanley 750 Building Corp. Delaware 1994 G.H.Y. Capital B.V. The Netherlands 1998 Morgan Stanley Aircraft Finance Delaware 1997 Aircraft SPC-5, Inc. California 1997 Greenfly (Ireland) Limited Ireland 1997 MS Aircraft I Delaware 1997 Redfly (UK) Limited England 1997 MS Tokyo Properties Ltd. Japan 1989 MSDW LTCP, L.L.C. Delaware 1998 MSDW 745, LLC Delaware 1998 MS Holdings Incorporated Delaware 1995 MS Real Estate Special Situations Inc. Delaware 1997 MS Real Estate Special Situations GP Inc. Delaware 1997 MS Synfuels, Inc. Delaware 1998 MS Technology Holdings, Inc. Delaware 1997 MS Venture Capital (Japan) Inc. Delaware 1989 MSAM Holdings II, Inc. Delaware 1996 Van Kampen Investments Inc. Delaware 1992 American Capital Contractual Services, Inc. New York 1957 Riverview International Inc. Delaware 1998 Van Kampen Advisors Inc. Delaware 1974 Van Kampen Asset Management Inc. Delaware 1936 Van Kampen Funds Inc. Delaware 1974 Van Kampen Exchange Corp. California 1975 Van Kampen Insurance Agency of Illinois Inc. Illinois 1996 Van Kampen Insurance Agency of Texas Inc. Texas 1996 Van Kampen Investment Advisory Corp. Delaware 1982 Van Kampen Investor Services Inc. Delaware 1987 Van Kampen Management Inc. Delaware 1990 Van Kampen Recordkeeping Services Inc. Delaware 1997 Van Kampen System Inc. Delaware 1996 Van Kampen Trust Co. Texas 1986 VKAC Cayman Limited Cayman Islands 1995 MSBF Inc. Delaware 1995 MSCP III Holdings, Inc. Delaware 1994 MSDW Capital Partners IV, Inc. Delaware 1998 MSDW Capital Trust I Delaware 1998 MSDW Corporate Coverage Limited Cayman Islands 1998 MSDW CPIV Holdings, Inc. Delaware 1998 MSDW International Employee Services LLC Delaware 1998 MSDW Offshore Equity Services Inc. Delaware 1998 MSDW Equity Finance Services I (Cayman) Ltd. Cayman Islands 1998 MSDW Structured Asset Corp. Delaware 1998 MSDW Synfuels II, Inc. Delaware 1998 MSDW Synfuels III, Inc. Delaware 1998 MSIT Holdings, Inc. Delaware 1996 MSPL Co. Inc. Delaware 1990
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Year of Jurisdiction of Incorporation/ Incorporation Formation ------------- --------- MSREF II, Inc. Delaware 1994 MSREF II, L.L.C. Delaware 1995 MSREF III, Inc. Delaware 1997 MSREF Funding, Inc. Delaware 1997 MSUH Holdings I, Inc. Delaware 1996 MSUH Holdings II, Inc. Delaware 1996 MS SP Urban Horizons, Inc. Delaware 1996 MS Urban Horizons, Inc. Delaware 1994 PG Holdings, Inc. Delaware 1991 PG Investors, Inc. Delaware 1991 PG Investors II, Inc. Delaware 1996 Pierpont Power, Inc. New York 1987 Romley Computer Leasing Inc. Delaware 1985 Strategic Investments I, Inc. Delaware 1996