EXHIBIT 21

UNITED INDUSTRIAL CORPORATION

List of Subsidiaries

As of  March 1, 2006

Name of Subsidiary	State (or jurisdiction) in which Incorporated	Approximate Percentage of Voting Securities Owned by Immediate Parent
AAI Corporation	Maryland	100	%(a)
AAI Services Corporation (formerly AAI Engineering Support, Inc.)	Maryland	100	%(b)
AAI / ACL Technologies, Inc.	Maryland	100	%(b)
AAI / ACL Technologies Europe Limited	Great Britain	100	%(c)
AAI Australia Pty Ltd.	Australia	100	%(b)
ESL Defence (Holding) Ltd.	Great Britain	100	%(b)
ESL Defence Limited	Great Britain	100	%(d)
Detroit Stoker Company	Michigan	100	%(a)

(a) Percentage owned by United Industrial Corporation.

(b) Percentage owned by AAI Corporation.

(c) Percentage owned by AAI/ACL Technologies, Inc.

(d) Percentage owned by ESL Defence (Holding) Ltd.

All of the subsidiaries listed above are included in the consolidated financial statements of United Industrial Corporation.

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