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Universal Salvage (UVS)

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Monday 13 August, 2001

Universal Salvage

Holding in Company

Universal Salvage PLC
10 August 2001

Letter to Company Announcements Office
Letter dated 10 August 2001


Universal Salvage plc (the 'Company') received today a notification under
Companies Act 1985 (the 'Act') from Gartmore Investment Limited in respect 
of the beneficial interest of BNY GIL CLT A/C NOMS LTD A/C NWSC which has 
decreased following the sale of 181,615 Ordinary 10 pence shares in the Company
on 8 August 2001. The resultant holding is 823,881 Ordinary 10 pence shares
representing 2.99% of the issued share capital of the Company, based on the
current issued share capital of 27,545,521.

Please see letter below from Gartmore Investment Limited.

Letter from Universal Salvage plc

Letter to: Universal Salvage Plc 
Letter dated 9 August 2001

In accordance with the provisions of Section 198 of the Companies Act 1985 as
amended by the Disclosure of Interest in Shares (Amendment) Regulations 1993, 
we write to inform you that BNY GIL CLT A/C NOMS LTD A/C NWSC no longer has a
reportable interest in your company by virtue of selling 181,615 shares on 8th
August 2001. As a result, the holding is now as follows:

Registered holder name:   BNY GIL CLT A/C NOMS LTD A/C NWSC
Beneficial owner name:    Gartmore Growth Opportunities 
Fund Manager name:        Gartmore Investment Limited
Amount of holding:        823,881 Ordinary 10p shares  
Percentage holding        2.99%

These shares are held by Gartmore Investment Limited for investment purposes
only, on behalf of the client/fund. The percentage holding is based on the
number of shares in issue, 27,545,521 as supplied to us by Extel Financial

Letter from Gartmore Investment Limited