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Universal Salvage (UVS)

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Friday 24 August, 2001

Universal Salvage

Holding in Company

Universal Salvage PLC
23 August 2001


Letter to Company Announcements Office

COMPANIES ACT 1985 
DISCLOSURE OF INTERESTS IN SHARES

Universal Salvage Plc (the 'company') received a notification under Companies
Act 1985 (the 'Act') from Fidelity Investments in respect of the disclosable
interests of Fidelity International Limited (FIL) and others in 1,333,500
Ordinary 10 pence shares in the Company representing 4.84% of the issued share
capital of the Company, which stands at 27,545,521 ordinary shares.

Please see letter below and schedule from Fidelity Investments.

Letter from A E THOMAS 
COMPANY SECRETARY
Universal Salvage Plc


Letter to Universal Salvage Plc
August 22, 2001

Enclosed are amended notifications of disclosable interests under the U.K.
Companies Act 1985. Please note that while this information details the
disclosable interests of more than one entity, the enclosed disclosure
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 interests.

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

Letter from FMR Corp.


Amendment No. 6

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 Investments 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

        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) (h) 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 6



                      SHARES HELD   MANAGEMENT   NOMINEE/REGISTERED
                                     COMPANY     NAME

(Ordinary Shares)
                        1,146,100     FISL       Clydesdale Bank (Head Office)
                                                 Nominees Limited
                          187,400     FIL        Chase Nominees


TOTAL ORDINARY SHARES:  1,333,500

CURRENT OWNERSHIP PERCENTAGE:  4.84%

SHARES IN ISSUE:       27,545,521

CHANGE IN HOLDINGS SINCE
 LAST FILING:            (250,000) ordinary shares