EXHIBIT 21

SUBSIDIARIES OF MERCER INTERNATIONAL INC.

			Shareholding
			at Year End
	Jurisdiction
Name of Subsidiary(1)	of Incorporation		Direct		Indirect
Dresden Papier GmbH		Germany		—		100%
Zellstoff-und Papierfabrik Rosenthal GmbH & Co. KG		Germany		—		100%
Zellstoff Stendal GmbH		Germany		—		63.6%
Zellstoff Celgar Limited(2) (formerly known as 0706906 B.C. Ltd.)		Canada		100%		—

(1)	All the subsidiaries are conducting business under their own names.
(2)	Acquisition vehicle that acquired the Celgar mill in February 2005.

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