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Universal Salvage (UVS)

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Thursday 09 August, 2001

Universal Salvage

Holding in Company

Universal Salvage PLC
9 August 2001

COMPANIES ACT 1985, PART IV
DISCLOSURE OF INTERESTS IN SHARES

Universal Salvage plc (the 'Company') received a notification under Companies
Act 1985 (the 'Act') from AEGON Asset Management in respect of the notifiable
interest held within the AEGON UK plc Group of Companies in 972,975 Ordinary 10
pence shares in the Company representing 3.53% of the issued share capital of
the Company, which stands at 27,545,521 ordinary shares.

See letter below from AEGON Asset Management


Letter to Universal Salvage PLC

DISCLOSURE OF INTEREST IN SHARES - COMPANIES ACT 1985, PART VI

We hereby give intimation that, following a purchase of shares in the Company,
the notifiable interest held within the AEGON UK plc Group of Companies is
3.53%.
 
No of Ordinary Shares purchased:      781,225

Resultant Total:                      972,975

Held as follows:                      972,975  Chase Nominees Limited

 
For the purposes of the foregoing notification;-

(a)     'The AEGON UK plc Group of Companies' means Scottish Equitable plc,     
        Scottish Equitable (Managed Funds) Limited, AEGON Fund Management UK    
        Ltd, AEGON Investment Management UK Ltd, AEGON Asset Management UK plc, 
        Scottish Equitable Trustees Limited, Guardian Assurance plc, Guardian   
        Linked Life Assurance Limited, Guardian Pensions Management Limited and 
        Guardian Unit Managers Limited, all having a place of business at       
        Edinburgh Park, Edinburgh EH12 9SE:

(b)     'the Act' shall mean the Companies Act 1985 and expressions used in this
        notification shall, unless the context otherwise requires, have the same
        meanings as are set out in or adopted for the purposes of the Act;

(c)     'the Company' shall mean the company to whom this notification is       
        addressed. 

If any further Information is required in respect of the foregoing please do not
hesitate to let us know. 

For record purposes, please sign and return to us the duplicate copy of this
notice enclosed herewith.                                                       
   
 
From Aegon Asset Management UK plc