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Universal Salvage (UVS)

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Wednesday 22 August, 2001

Universal Salvage

Holding in Company

Universal Salvage PLC
22 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 1,236,578 Ordinary
10 pence shares in the Company representing 4.49% of the issued share capital of
the Company, which stands at 27,545,521 ordinary shares.

Please see below letter from AEGON Asset Management.



Letter to Universal Salvage PLC
20 August 2001

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
4.49%.

No of Ordinary Shares purchased:              263,603

Resultant Total:                            1,236,578

Held as follows:                            1,236,578 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.

 
Letter from Sarah Whitecross
Compliance Training Consultant 
AEGON Asset Management UK plc