EX-8.1 7 dp21918_ex8-1.htm EXHIBIT 8.1

| Subsidiaries of the Company | Exhibit 8.1

Subsidiary | Jurisdiction of Incorporation | Principal Activity
Francés Administradora de Inversiones S.A. | Republic of Argentina | Mutual funds
Francés Valores Sociedad de Bolsa S.A. | Republic of Argentina | Stock exchange brokerage
Consolidar Cía. de Seguros de Retiro S.A. | Republic of Argentina | Insurance
Consolidar AFJP S.A. (undergoing liquidation proceedings) | Republic of Argentina | Pension and Retirement Fund Administrators
PSA Finance Argentina Compañía Financiera S.A. | Republic of Argentina | Financial Institution