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Universal Salvage (UVS)

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Wednesday 16 August, 2000

Universal Salvage

Chairman's Statement

Universal Salvage PLC
16 August 2000

                             UNIVERSAL SALVAGE PLC

Universal Salvage manages the disposal of vehicle salvage for third parties on
       a contract basis and is the UK's largest vehicle salvage company.
                                       
                                       
                                 AGM STATEMENT

Alexander Foster, Chairman of Universal Salvage plc ('Universal'), speaking at
the Company's Annual General Meeting today, commented,

'On  behalf of the Board, I am pleased to report that trading during the first
three  months  of  the  new financial year is in line with expectations and
the remainder of the year continues to look encouraging.

We continue to focus on improving our operational efficiency and enhancing the
service we offer motor insurers as well as vehicle repairers/dismantlers,  who
comprise our auction customers.

The  Company's  financial and trading position has revived strongly  over  the
last  18  months  and the Board considers that Universal's recovery  has  firm
foundations.   As  we continue to increase the services we offer,  we  believe
that  our  business has the potential to grow substantially  over  the  medium
term.   In  addition, our evolving e-commerce strategy represents new business
opportunities.

I look forward to reporting on the Company's trading progress at the half year
when we announce our interim figures in December, and updating shareholders on
the development of Universal's service offering at the full year'.


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Enquiries:

Universal Salvage plc     Martin Hynes, Chief Executive       T: 020 7464 4280

Biddick Associates        Katie Tzouliadis                    T: 020 7464 4280