The Limited, Inc. - Page 13

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                          Simplified Corporation Organizational Structure                                         
                                                  January 1993                                                    






                                     The Limited, Inc.                                                            
                                           (US)                                                                   


         100%                                                                      100%                           
                                                               100%                                               
                                           100%                                                                   



             World Financial                Mast                                                                  
                                                               Limited Service          Store Divisions           
             Network National              Holding                                                                
                                                              Corporation (US)               many                 
                Bank (US)                Corporation                                                              
                                                              “Limited Service”              (US)                 
                 “WFNNB”                    (US)                                                                  



                                                 100%                                                             



                                     Mast Industries Inc.                                                         
                                             “MII”                                                                



                                                 100%                                                             



                                        Mast Industries                                                           
                                        (Far East) Ltd.                                                           
                                          (Hong Kong)                                                             
                                             “MFE”                                                                



                                                 100%                                                             



                                       MFE (Netherlands                                                           
                                        Antilles) N.V.                                                            
                                     (Netherlands Antilles)                                                       
                                          “MFE N.V.”                                                              

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