Principal subsidiary undertakings
at December 31, 2004
 
Incorporated within the UK – held by Rolls-Royce Group plc
Rolls-Royce plc Principal trading/holding company
Groby Limited Non-trading company
 
Incorporated within the UK – held by subsidiary undertakings
Civil aerospace
Rolls E.L. Turbofans Limited Engine support services/holding company
Rolls-Royce General Partner Limited1 Management company
Rolls-Royce Total Care Services Limited Aftermarket support services
Marine systems
Rolls-Royce Marine Electrical Systems Limited2 Marine electrical systems
Rolls-Royce Marine Power Operations Limited Nuclear submarine propulsion systems
Energy
Rolls-Royce Fuel Cell Systems Limited3 Development of fuel cell systems
Financial services and corporate
Rolls-Royce Aircraft Management Limited Sales finance and other financial services
Rolls-Royce Capital Limited3 Sales finance and other financial services
Rolls-Royce International Limited International support and commercial information services
Rolls-Royce Leasing Limited Engine leasing
Rolls-Royce Overseas Holdings Limited Holding company
Rolls-Royce Overseas Investments Limited4 Holding company
Rolls-Royce Power Engineering plc Power generation and marine systems
Rolls-Royce Power Ventures Limited Provision of project development capabilities
Vinters Engineering plc5 Holding company
Vinters plc Holding company
 
1 The interest is held by Rolls-Royce Supplies Limited.
2 The interest is held by Rolls-Royce Power Engineering plc.
3 This subsidiary acts as an agent of Rolls-Royce plc.
4 The interest is held by Rolls-Royce Overseas Holdings Limited.
5 The interest is held by Vinters plc.
 
The above companies operate principally in the UK and the effective Group interest is 100%.

Incorporated overseas – held by subsidiary undertakings
Civil aerospace
Brazil Rolls-Royce Brasil Limitada Repair and overhaul
France Rolls-Royce Technical Support SARL1 Project support
Germany Rolls-Royce Deutschland Ltd & Co KG2 BR700 series engine development and manufacture
Italy Europea Microfusioni Aerospaziali S.p.A. Manufacture of castings
USA Rolls-Royce Corporation3 Design, development and manufacture of gas turbine engines
USA Rolls-Royce Engine Services – Oakland Inc.4 Repair and overhaul
Marine systems
Finland Rolls-Royce OY AB5 Manufacture of winches and propeller systems
Norway Rolls-Royce Marine AS5 Design and manufacture of ship equipment/holding company
Norway Ulstein Holding AS6 Holding company
Sweden Kamewa Holding AB5 Holding company
Sweden Rolls-Royce AB7 Manufacture of propeller systems
USA Rolls-Royce Commercial Marine Inc.4 Aftermarket support services
USA Rolls-Royce Naval Marine Inc.4 Design and manufacture of ship propellers
USA Syncrolift Inc.4 Shiplift systems
Energy
Canada Rolls-Royce Canada Limited8 Industrial gas turbines and aero engine sales, service and overhaul
India Rolls-Royce Energy Systems India Private Limited1 Project management and customer support
Singapore Rolls-Royce Pte Limited1 Engine and turbine compression systems, spares
USA Rolls-Royce Energy Systems Inc.4 Turbine generator packages
Financial services and corporate
Canada Rolls-Royce Holdings Canada Inc. Holding company
Guernsey Nightingale Insurance Limited1 Insurance services
USA Rolls-Royce North America (USA) Holdings Co.9 Holding company
USA Rolls-Royce North America Holdings Inc.10 Holding company
USA Rolls-Royce Capital Inc.11 Financial services
 
1 The interests are held by Rolls-Royce Overseas Holdings Limited.
2 The interest is held as follows: 49.5% Rolls-Royce Erste Beteiligungs GmbH, 50.5% Rolls-Royce Zweite Beteiligungs GmbH.
3 The interest is held by Rolls-Royce Asset Management Inc.
4 The interests are held by Rolls-Royce North America Ventures I Inc.
5 The interests are held by Vinters International Limited.
6 The interest is held by Rolls-Royce Marine AS.
7 The interest is held by Kamewa Holding AB.
8 The interest is held by Rolls-Royce Holdings Canada Inc.
9 The interest is held by Rolls-Royce Overseas Investments Limited.
10 The interest is held by Rolls-Royce North America (USA) Holdings Co.
11 The interest is held by Rolls-Royce North America Ventures II Inc.
 
The above companies operate principally in the country of their incorporation.
The effective Group interest is 100%, other than Europea Microfusioni Aerospaziali S.p.A. which is 51%.
 
A list of all subsidiary undertakings will be included in the Company’s annual return to Companies House.