The following companies are subsidiaries of Bramston & Associates LLC, USA ( more than 90% of shares).

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13

Company Name
Arthur K. Inc.
BA Associates Institutional Fund Consultants, Inc
BA Comercial E Representacoes Ltda.
Bramston & Associates (Bermuda) Investments Ltd.
Bramston & Associates (Mauritius) Ltd
Bramston & Associates Equity (Mauritius) Ltd
DNA Communication Ltd
Lifeguard Libya
Lifeguard Mali
Lifeguard Togo
Maximum Security Solutions Ltd
Retif Consulting Services Ltd
Zebra Lifeguard

Country
Liechtenstein
San Marino
Brazil
Bermuda
Mauritius
Mauritius
Mauritius
Libya
Mali
Togo
Mauritius
Mauritius
RD Congo