<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>5
<FILENAME>ex21.txt
<DESCRIPTION>SUBSIDIARIES OF CO, JURISDICTION OF INC., & % OF OWNERSHP
<TEXT>
EXHIBIT 21 - SUBSIDIARIES  OF THE COMPANY,  JURISDICTION OF  INCORPORATION,  AND
             PERCENTAGE OF OWNERSHIP


1.   United Shareholder Services,  Inc. - incorporated in Texas and wholly owned
     by the Company

2.   A & B Mailers, Inc. - incorporated in Texas and wholly owned by the Company

3.   U.S.  Global  Investors  (Guernsey)  Limited -  incorporated  in  Guernsey,
     Channel Islands, and wholly owned by the Company

4.   U.S. Global Brokerage, Inc. - incorporated in Texas and wholly owned by the
     Company

5.   iWeblabs, Inc. - incorporated in Texas and wholly owned by the Company


</TEXT>
</DOCUMENT>