<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>3
<FILENAME>aethlon_sb2ex21.txt
<TEXT>
<PAGE>

                                                                     Exhibit 21


                              LIST OF SUBSIDIARIES

1. Aethlon, Inc.

2. Cell Activation, Inc.

3. Syngen Research, Inc.

4. Hemex, Inc.


</TEXT>
</DOCUMENT>
