Subsidiaries

Exhibit 21

CONSOLIDATED WATER CO. LTD. AND SUBSIDIARY COMPANIES

Subsidiaries of the Registrant

The following list includes all of the Registrant’s wholly-owned subsidiaries as of December 31, 2004. All subsidiaries of the Registrant appearing in the following table are included in the consolidated financial statements of the Registrant.


Name of Subsidiary		Jurisdiction of Incorporation
Belize Water Limited		Belize
Cayman Water Company Limited		Cayman Islands
DesalCo Limited		Cayman Islands
DesalCo (Barbados) Ltd.		Barbados
Ocean Conversion (Cayman) Limited		Cayman Islands
Waterfields Company Limited		Commonwealth of the Bahamas