EXHIBIT 21

SUBSIDIARIES OF MERCER INTERNATIONAL INC.

			Shareholding
			at Year End
	Jurisdiction
Name of Subsidiary(1)	of Incorporation		Direct		Indirect
Zellstoff-und Papierfabrik Rosenthal GmbH & Co. KG		Germany		—		100%
Zellstoff Stendal GmbH		Germany		—		63.6%
Zellstoff Celgar Limited		Canada		100%		—
Dresden Papier GmbH		Germany		—		100%

(1) All the subsidiaries are conducting business under their own names.