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Universal Salvage (UVS)

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Tuesday 13 November, 2001

Universal Salvage

Holding in Company

Universal Salvage PLC
12 November 2001


Letter to Company Announcements Office

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 1,620,000 Ordinary 
10 pence shares in the Company representing 5.86% of the issued share capital of
the Company, which stands at 27,653,917 Ordinary shares.

Please see letter below from AEGON Asset Management.

Letter from Universal Salvage Plc


Letter to Universal Salvage Plc
08 November, 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 
varied from above 4.0% to 5.86%.


No of Shares purchased:           287,567
Resultant Total                 1,620,000
Held as follows:                1,620,000   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 AEGON Asset Management UK Plc