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Universal Salvage (UVS)

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Tuesday 08 May, 2001

Universal Salvage

Holding in Company

Universal Salvage PLC
4 May 2001


LETTER TO UNIVERSAL SALVAGE PLC

Below are amended notification of disclosable interests under the UK Companies
Act 1985.  Please note that while this information details the disclosable
interests of more than one entity, the disclosure below constitutes separate
notifications of interest which have been combined solely for purposes of
clarity and efficiency.  It is not intended to indicate that any of these
entities act as a group or in concert with respect to these interest.

These disclosures are made in the interest of conformity with the Companies Act.
The Interest detailed below was acquired solely for investment purposes.  For
disclosure purposes, holdings should be represented as Fidelity International
Limited (FIL) and its direct and indirect subsidiaries.

FROM FIDELITY INVESTMENTS


NOTIFICATIONS UNDER SECTIONS 198 TO 202 -- UK COMPANIES ACT

1. Company in which shares are held:      UNIVERSAL SALVAGE PLC

2. Notifiable Interest:                   ORDINARY SHARES

           Fidelity International Limited (FIL)
           P.O. Box HM 670
           Hamilton HMCX, Bermuda

           Parent holding company for various direct and indirect subsidiaries,
           including Fidelity Investment Services Ltd (FISL), investment 
           managers for various non-US investment companies and institutional 
           clients. (See Schedule A for listing of Registered Shareholders and 
           their holdings).

3.     The notifiable interests also comprise the notifiable interest of

           Mr Edward C Johnson 3d
           82 Devonshire Street
           Boston, MA 02109

           A principal shareholder of Fidelity International Limited.

4.     The notifiable interests include interest held on behalf of authorized
       unit trust schemes in the U.K. notwithstanding the exemption from 
       reporting pursuant to Section 209 (1) (e) of the Companies Act 1985.

5.     These notifications of disclosable interests constitute separate
       notifications of interest in the shares and are combined solely for 
       the purposes of clarity. Nothing herein should be taken to indicate 
       that Fidelity International Limited and its direct and indirect          
       subsidiaries, or Mr Edward C Johnson 3d act as a group or in concert in  
       respect of the disclosed interests, or that they are required to submit  
       these notifications on a joint basis.

6.     The disclosable interests arise under section 208(4) (b) of the Act,
       namely where a person, not being the registered holder, is entitled
       to exercise a right conferred by the holding of the shares or to 
       control the exercise of such rights, or under section 203 of the Act
       respectively.

SCHEDULE A

SECURITY: UNIVERSAL SALVAGE PLC                               Amendment No 2


                      SHARES HELD   MANAGEMENT   NOMINEE/REGISTERED
                                     COMPANY     NAME
(Ordinary Shares)

                       1,430,500      FISL       Clydesdale Bank (Head Office)
                                                 Nominees Limited
                         200,500      FIL        Chase Nominees
                     

TOTAL ORDINARY SHARES: 1,631,000

CURRENT OWNERSHIP PERCENTAGE:  6.02%

SHARES IN ISSUE:      27,081,771

CHANGE IN HOLDINGS SINCE
 LAST FILING:           +1,631,000 Ordinary Shares