<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>9
<FILENAME>b49004lcexv21.txt
<DESCRIPTION>EX-21 SUBSIDIARIES
<TEXT>
<PAGE>
                                                                               .
                                                                               .
                                                                               .

                                                                      EXHIBIT 21

                         LYNCH CORPORATION SUBSIDIARIES

<TABLE>
<CAPTION>
Subsidiary Name                  State of Organization  Owned by Lynch
---------------                  ---------------------  --------------
<S>                              <C>                    <C>
Lynch Systems, Inc.                  South Dakota           100.0%
M-tron Industries, Inc.                Delaware             100.0%
     M-tron Industries, Limited        Hong Kong            100.0%
</TABLE>

</TEXT>
</DOCUMENT>
