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Universal Salvage (UVS)

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Friday 17 August, 2001

Universal Salvage

Director Shareholding

Universal Salvage PLC
17 August 2001

Notification of Interests of Directors' and Connected Persons

The Board of Universal Salvage plc (the 'company') has today been notified by
The Trustee of the Universal Salvage plc 2000 Employees' Share Trust that forms
of acceptance have been received from the following directors' in respect of
share option grants from The Universal Salvage 1995 Share Option Scheme ('the
1995 Scheme').

M C Hynes         31,283 option shares 
B Hobbs           26,069 option shares 
A J McGill        25,026 option shares 
J C Cook          21,898 option shares

The additional information required is as follows:

1     The date of grant of the above option shares was 18 July 2001,

2     The grant price was £4.795

3     Amount paid for option shares - NIL

4     Description of shares - Ordinary shares of 10 pence each

5     Period during which shares are exercisable:

      1995 Scheme - 18 July 2004 - 18 July 2008

6     Total option shares held following this notification:

      MC Hynes   -     281,384 
      B Hobbs    -     241,150 
      A J McGill -     235,096 
      J C COOK    -     48,145

7     Additional information;

N.B. The delay in notification is due to the acceptance period being 30 days
from the date of grant.

Enquiries:        Anne Thomas
                  Universal Salvage plc      01234 762225