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Universal Salvage (UVS)

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Tuesday 20 November, 2001

Universal Salvage

Re Issued Share Capital

Universal Salvage PLC
19 November 2001

                             UNIVERSAL SALVAGE PLC

                    Notification of Change in Issued Share Capital

The Board of Universal Salvage plc (the 'Company') announces that, following the
exercise of 75,343 SAYE share options and the exercise of 50,000 share options 
in the Universal Salvage plc 1995 Executive Share Option Scheme on 19 November 
2001, the issued share capital of the Company has increased to 27,779,260 
Ordinary Shares of 10 pence each.

Enquiries:             Anne Thomas 
                       Universal Salvage plc          01234 762225