
                                  EXHIBIT (21)

                  THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
                  =============================================
                         Subsidiaries of the Registrant
                         ------------------------------

The Procter & Gamble Company [Ohio]
    Arbora Capital, S.A. [Spain]
       Arbora Holding, S.A. [Spain]
           Ausonia Higiene, S.L. [Spain]
                  Ausonia Portuguesa-Productos de Higiene, S.A. [Portugal]
           Richvest B.V. [Netherlands]
    Cotonificio Medical S.A. [Spain]
    Deterperu S.A. [Peru]
       Deterperu Industrial S.A. [Peru]
    The Dover Wipes Company [Ohio]
    Fisher Nut Company [Ohio]
    The Folger Coffee Company [Ohio]
       P&G Consultoria E Servicos Ltda. [Brazil]
    FPG Oleochemicals Sdn. Bhd. [Malaysia]
    Giorgio Beverly Hills, Inc.[Delaware]
    Giorgio Beverly Hills (Europe) Ltd. [United Kingdom]
    Industria de Concentrados Crush Limitada [Uruguay]
    Industrias Inextra, S.A. [Colombia]
    Inversiones Procter & Gamble de Venezuela, C.A. [Venezuela]
       Inversiones Industrias Mammi, C.A. [Venezuela]
       Midway Holdings Ltd. [Cayman Islands]
            Marcvenca Inversiones, C.A. [Venezuela]
       Procter & Gamble de Venezuela, C.A. [Venezuela]
    Jetco Chemicals, Inc. [Texas]
    Karm, S.A. [Liechtenstein]
    Millstone Coffee, Inc. [Washington]
    Noxell Corporation [Maryland]
       Max Factor & Co. [Delaware]
       Noxell (Barbados) Limited [Barbados]
       Noxell (Panama) S.A. [Panama]
       Noxell (Thailand) Limited [Thailand]
       Noxell de Venezuela, C.A. [Venezuela]
    P&G Brands Comercio S.A. [Brazil]
       Procter & Gamble do Brasil S.A. [Brazil]
           Phebo do Nordeste S/A [Brazil]
    P&G Holding B.V. [Netherlands]
       P&G Tissues B.V. [Netherlands]
       Richardson-Vicks B.V. [Netherlands]
           Richardson-Vicks Overseas Finance N.V. [Netherlands Antilles]
       Tempo Italiana SrL [Italy]
    Procter & Gamble A.G. [Switzerland]
       Betrix (Schweiz) AG [Switzerland]
       Detergent Products A.G. [Switzerland]
           Modern Industries Company - Dammam [Saudi Arabia]
           Modern Industries Company - Jeddah [Saudi Arabia]
           Modern Products Company - Jeddah [Saudi Arabia]
       Deurocos Cosmetic AG [Switzerland]
       Moroccan Modern Industries [Morocco]
           Comunivers sa [Morocco]
       Pantene A.G. [Switzerland]
       Procter & Gamble Austria GmbH [Austria]
       The Procter & Gamble Company of South Africa (Proprietary) Limited
         [S. Africa]
           Procter & Gamble South Africa Proprietary Limited [South Africa]
       Procter & Gamble Development Company A.G. Glarus [Switzerland]
       Procter & Gamble (East Africa) Limited [Kenya]
       Procter & Gamble Egypt [Egypt]
           Procter & Gamble (Egypt) Industrial and Commercial Company [Egypt]
           Procter & Gamble (Egypt) Manufacturing Company [Egypt]
       Procter & Gamble Hellas A.E. (Chemical Industries) [Greece]
       Procter & Gamble-Hutchison Ltd. [Hong Kong]
           Procter & Gamble (Chengdu) Ltd. [PRC]
           Procter & Gamble (China) Ltd. [PRC]
           Procter & Gamble Detergent (Guangzhou) Ltd. [PRC]
           Procter & Gamble (Guangzhou) Ltd. [PRC]
                  Procter & Gamble Oral Care (Guangzhou) [China]
           Procter & Gamble Lonkey (Guangzhou) Ltd. [PRC]
                  Procter & Gamble Lonkey (Shaoguan) Ltd. [PRC]
           Procter & Gamble Manufacturing (Tianjin) Co. Ltd. [PRC]
           Procter & Gamble Manufacturing Detergent (Tianjin) Co. Ltd. [PRC]
           Procter & Gamble Manufacturing Paper (Tianjin) Co. Ltd. [PRC]
           Procter & Gamble Panda Detergent Co. Ltd Beijing [PRC]
           Procter & Gamble Paper (Guangzhou) Ltd. [PRC]
           Procter & Gamble Personal Cleansing (Tianjin) Ltd. [PRC]
       Procter & Gamble Jamaica Ltd. [Jamaica]
       The Procter & Gamble Manufacturing Company of Lebanon, S.A.L.[Lebanon]
       Procter & Gamble Marketing A.G. [Switzerland]
       Procter & Gamble Maroc [Morocco]
       Procter & Gamble Nigeria Limited [Nigeria]
       Procter & Gamble Pakistan (Private) Limited [Pakistan]
       Procter & Gamble de Panama, S.A. [Panama]
       Procter & Gamble Tissues AG [Switzerland]
       Procter & Gamble (Yemen) Ltd [Yemen]
       Societe Immobiliere Les Colombettes, S.A. [Switzerland]
    Procter & Gamble Asia Pacific Ltd. [Hong Kong]
       Procter & Gamble Asia Pacific Ltd. Manila Regional
          Headquarters [Philippines]
    Procter & Gamble Benelux [Belgium]
    Procter & Gamble do Brazil, Inc. [Delaware]
       Procter & Gamble do Brasil & Cia [Brazil]
    The Procter & Gamble Cellulose Company [Delaware]
    Procter & Gamble Chile, Inc. [Ohio]
    The Procter & Gamble Commercial Company [Ohio]
       PROGAM Leasing, Inc. [Puerto Rico]
    Procter & Gamble Commercial de Cuba, S.A. [Cuba]
    The Procter & Gamble Distributing Company [Ohio]
       Procter & Gamble FSC (Barbados) Inc. [Barbados]
    Procter & Gamble Eastern Europe, Inc. [Ohio]
       Detergenti SA Timisoara [Romania]
       Hyginett KFT [Hungary]
       Novomoskovskbytkhim [Russia]
       Procter & Gamble Bulgaria Ltd. [Bulgaria]
       Procter & Gamble Croatia [Croatia]
       Procter & Gamble Marketing Federal Republic of Yugoslavia Ltd. [Serbia]
       Procter & Gamble Hungary Wholesale Trading Partnership (KKT) [Hungary]
           Alvorada BT [Hungary]
           Beta BT [Hungary]
           Beauty-Care Beauty-Treatment Product Distribution Foreign Trade Ltd.
             [Hungary]
           Carlos BT [Hungary]
           Cleveland Export-Import Trading Ltd. [Hungary]
           Diego BT [Hungary]
           Elysee BT [Hungary]
           Ferraris BT [Hungary]
           Frank BT [Hungary]
           Helga BT [Hungary]
           Olga BT [Hungary]
           Pal BT [Hungary]
           Pannonia Trading Ltd. [Hungary]
           Shampoo-Trade Export Import Trading Ltd. [Hungary]
           Stan BT [Hungary]
           Transylvania Trading Ltd. [Hungary]
           Varadi BT [Hungary]
       Procter & Gamble Kereskedelmi BT [Hungary]
       Procter & Gamble Marketing & Commercial Activities d.o.o. [Slovenia]
       Procter & Gamble Marketing Latvia Ltd. [Latvia]
       Procter & Gamble Marketing Romania SRL (Romania)
       Procter & Gamble Manufacturing Romania SRL [Romania]
       Procter & Gamble Operations Polska - Spolka Akcyjna [Poland]
       Procter & Gamble Polska Sp. zo.o [Poland]
       Procter & Gamble T.O.O. [Russia]
       Procter & Gamble Spol. s.r.o. (Ltd) [Slovak Republic]
       Procter & Gamble Ukraine (Ukraine)]
       Procter & Gamble Rakona Ltd. [Czech Republic]
    Procter & Gamble European Technical Center S.A. [Belgium]
       Procter & Gamble European Manufacturing Company [Belgium]
    Procter & Gamble Far East, Inc. [Ohio]
       Max Factor K.K. [Japan]
           American Cosmetics K.K. [Japan]
           Betrix Japan K.K. [Japan]
           Max Factor Hanbai K.K. [Japan]
       Procter & Gamble Asia Pte. Ltd. [Singapore]
       Procter & Gamble India Holdings, Inc. [Ohio]
           Procter & Gamble Bangladesh Private Ltd. [Bangladesh]
           Procter & Gamble Home Products (India) Limited [India]
           Procter & Gamble Sri Lanka Private Ltd. [Sri Lanka]
       Procter & Gamble  Korea Inc.  [Korea]
       Procter & Gamble NPD, Inc. [Ohio]
       Procter & Gamble Taiwan Limited [Taiwan]
       Procter & Gamble (Vietnam) Ltd. [Vietnam]
    Procter & Gamble FED, Inc. [Delaware]
    Procter & Gamble Finance Corporation [Canada]
    The Procter & Gamble Global Finance Company [Ohio]
    Procter & Gamble Inc. [Ontario, Canada]
       Crest Toothpaste Inc. [Canada]
       Procter & Gamble Financial Services [Ireland]
       Procter & Gamble Mississauga Real Estate Company [Canada]
       Procter & Gamble Services Company S.A. [Belgium]
       Shulton de Venezuela, C.A. S.A.[Venezuela]
    Procter & Gamble Inversiones S.A. [Chile]
       Productos Sanitarios S.A. [Chile]
    Procter & Gamble Investment Corporation [Canada]
    Procter & Gamble Italia, S.p.A. [Italy]
       Eurocos Italia S.p.A. [Italy]
       Fater S.p.A. [Italy]
           Fameccanica Data S.p.A. [Italy]
       Procter & Gamble Distributing Company (Europe) [Belgium]
       Procter & Gamble Holding S.p.A.[Italy]
           Procter & Gamble Pharmaceuticals Italia S.p.A. [Italy]
           Procter & Gamble Tissues Italia S.p.A. [Italy]
           Progasud S.p.A. [Italy]
       Procter & Gamble Pescara Technical Center S.p.A. [Italy]
       Procter & Gamble Portugal S.A. (Portugal)
           Neoblanc-Produtos de Higiene e Limpeza Lda. [Portugal]
       Procter & Gamble Tuketim Mallari Sanayii A.S. [Turkey]
           Eczacibasi Procter & Gamble Dagitim Ve Satis AS [Turkey]
           Panel Piyasa Arastima Ve Danismanlik AS [Turkey]
       PROGAVI S.p.A. [Italy]
       Rapik S.p.A. [Italy]
       Sanipak Saglik Urunleri Sanayi Ve Ticaret A.S. [Turkey]
    Procter & Gamble Limited [U.K.]
       European Beauty Products (U.K.) Limited [U.K.]
           Max Factor & Co. (U.K.) Ltd. [Bermuda]
           Max Factor Limited [U.K.]
                  Gala Cosmetics & Fragrances Limited [U.K.]
                  Gala Cosmetics International Limited [U.K.]
                     Komal Manufacturing Chemists Ltd. [India]
           Gala of London Limited [U.K.]
           Girl Cosmetics Ltd. [U.K.]
    Max Factor Manufacturing Ltd. [U.K.]
    Procter & Gamble (Enterprise Fund) Limited [United Kingdom]
    Procter & Gamble (Health & Beauty Care) Limited [U.K.]
       Noxell Limited [U.K.]
           Noxell (Malaysia) Sdn. Bhd. [Malaysia]
           Noxell (Singapore) Pte. Ltd. [Singapore]
       Procter & Gamble (Cosmetics and Fragrances) Limited [U.K.]
       Shulton (Great Britain) Ltd. [U.K.]
           Colfax Laboratories (India) Ltd. [India]
       Procter & Gamble (NTC) Limited [U.K.]
       Procter & Gamble Pharmaceuticals U.K., Limited [U.K.]
       Procter & Gamble Product Supply (U.K.) Limited [U.K.]
       Procter & Gamble (Properties) Ltd. [U.K.]
    The Procter & Gamble Manufacturing Company [Ohio]
    Procter & Gamble Manufacturing (Thailand) Limited [Thailand]
    Procter & Gamble de Mexico, S.A. de C.V. [Mexico]
       Max Factor Mexicana, S.A. de C.V. [Mexico]
    The Procter & Gamble Paper Products Company [Ohio]
    Procter & Gamble Philippines, Inc. [Philippines]
       Progam Realty & Development Corporation [Philippines]
    Procter & Gamble Productions, Inc. [Ohio]
       Fountain Square Music Publishing Co., Inc. [Ohio]
       Riverfront Music Publishing Co., Inc. [Ohio]
       Sycamore Productions, Inc. [Ohio]
    Procter & Gamble S.A. [France]
       Fonciere des 96 et 104 Avenue Charles de Gaulle [France] Laboratoire
       Lachartre SNC [France] Procter & Gamble Amiens SNC [France] Procter &
       Gamble France S.N.C.[France] Procter & Gamble Hygiene Beaute France
       SNC [France] Procter & Gamble Pharmaceuticals France S.A. [France]
       Procter & Gamble Tissues France
           Laboratoires Sofabel S.A.R.L. [France]
           Procter & Gamble Brionne S.N.C. [France]
    Procter & Gamble Scandinavia, Inc. [Ohio]
       Procter & Gamble Hygien AB [Sweden]
           Procter & Gamble Hygien A/S [Norway]
           Procter & Gamble Hygien OY [Finland]
    The Procter & Gamble U.K. Tissue Company [Ohio]
    Productos Sanitarios S.A. [Argentina]
       Eguimad S.A. [Argentina]
           Topsy S.A. [Argentina]
    Promotora de Bienes y Valores, S.A. de C.V. [Mexico]
    REVAC 2 Corp. [Delaware]
    Richardson-Vicks Inc. [Delaware]
       Celtic Insurance Company Limited [Bermuda]
       Olay Company, Inc. [Delaware]
       P&G do Brasil Comercial Ltda. [Brazil]
       Procter & Gamble Australia Proprietary Limited [Australia]
           Procter & Gamble (NBD) Pty. Ltd. [Australia]
       Procter & Gamble Espana S.A. [Spain]
       Procter & Gamble GmbH [Germany]
           Beautycos Cosmetic GmbH [Germany]
           Betrix Cosmetic GmbH [Germany]
           Blendax GmbH [Germany]
           Blendax Unterstutzungskasse GmbH [Germany]
           Buscher GmbH [Germany]
           Cover Girl Cosmetic GmbH [Germany]
                  Eurocos Cosmetic GmbH [Germany]
                  Eurocos Cosmetic Warenvertrieb GmbH [Austria]
           EURO-Juice G.m.b.H. Import und Vertrieb [Germany]
           Euro-Juice y Compania, S. en C. [Spain]
           HELIX Speditions-und Lagerei GmbH [Germany]
           Medimas Media-und Marketing Service GmbH I.L. [Germany]
           Procter & Gamble Central & Eastern Europe Services GmbH [Germany]
           Procter & Gamble European Service GmbH [Germany]
           Procter & Gamble GmbH & Co. Manufacturing OHG [Germany]
                  Exquisit - Kosmetik GmbH [Germany]
                  Noris Transport GmbH [Germany]
                  Papierhygiene GmbH [Germany]
                  Tempo AG [Switzerland]
                     Bess Hygiene AG [Switzerland]
                  Tempo Holding GmbH I.G. [Germany]
                     Bess Hygiene GmbH I.G. [Germany]
                     Unterstutzungskasse der Vereinigte Papierwerke AG Nurnberg
                        e.V. [Germany]
           Procter & Gamble Pharmaceuticals-Germany GmbH [Germany]
                  Rohm Pharma GmbH [Germany]
                     Egnaro Arzneimittel GmbH [Germany]
                     Rohm Pharma GmbH Wien [Austria]
           Rolf H. Dittmeyer GmbH [Germany]
           SCS Sales + Cosmetic Service GmbH [Germany]
           Shulton GmbH [Germany]
           Temca Chemische Union Vertriebs GmbH [Germany]
           TRAPOFA Leonhard-Speditions GmbH I.L. [Germany]
                  Trapofa GmbH [Austria]
       Procter & Gamble Health & Beauty Care-Europe Limited [U.K.]
       Procter & Gamble Health & Beauty Care Sweden AB [Sweden]
       Procter & Gamble Health Products, Inc. [Delaware]
       Procter & Gamble Hong Kong Limited [Hong Kong]
       Procter & Gamble India Limited [India]
       Procter & Gamble Interamericas Inc. [Delaware]
           Alejandro Llauro E Hijos S.A.I.C. [Argentina]
           Compania Quimica S.A. [Argentina]
           Procter & Gamble Ecuador Compania Anonima [Ecuador]
           Procter & Gamble Interamericas de Costa Rica, S.A. [Costa Rica]
           Procter & Gamble Interamericas de Nicaragua, S.A. [Nicaragua]
       Procter & Gamble (Malaysia) Sdn. Berhad [Malaysia]
       Procter & Gamble Pharmaceuticals, Inc. [Ohio]
           Norwich Overseas, Inc. [Delaware]
                  Norwich Pharmacal Company del Peru [Peru]
                  Procter & Gamble Pharmaceuticals Australia Pty.
                     Limited [Australia]
                  Procter & Gamble Pharmaceuticals Canada, Inc. [Canada]
                  S.A. Procter & Gamble Pharmaceuticals N.V. [Belgium]
           Procter & Gamble Pharmaceuticals Puerto Rico, Inc. [Delaware]
       Procter & Gamble (Singapore) Pte. Ltd. [Singapore]
       P. T. Procter & Gamble Indonesia [Indonesia]
       Richardson-Vicks do Brasil Quimica e Farmaceutica S.A. [Brazil]
       Richardson-Vicks Limited [Thailand]
       Richardson-Vicks Real Estate Inc. [Ohio]
       R-V Chemicals Holdings Ltd. [Ireland]
           Procter & Gamble (Ireland) Limited [Ireland]
           Procter & Gamble (Manufacturing) Ireland Limited [Ireland]
       Vick International Corporation [Delaware]
       Vick Nigeria Limited [Nigeria]
    Rosemount Corporation [Delaware]
       Anjali Corporation [Delaware]
           Kangra Valley Enterprises Ltd. [Delaware]
           The Mandwa Company, Inc. [Delaware]
           Ramalayam Investments Company [Delaware]
           Yamuna Investments Company [Delaware]
       The Malabar Company [Delaware]
           Temple Trees [India]
    Sacoma, S.A. [Argentina]
    Shulton, Inc. [New Jersey]
       Shulton S.A. [Guatemala]
       Shulton (New Zealand) Limited [New Zealand]
       Shulton (Thailand) Ltd. [Thailand]
    Sundor Brands Inc. [Florida]
       Sundor Canada Inc. [Delaware]
    Sundor Brands Limited [U.K.]
    Sycamore Investment Company [Ohio]
    Thomas Hedley & Co. Limited [U.K.]


[ ] Brackets indicate state or country of incorporation and do not form part of
corporate name.




