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Universal Salvage (UVS)

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Friday 04 January, 2002

Universal Salvage

Director Shareholding

Universal Salvage PLC
4 January 2002


UNIVERSAL SALVAGE PLC

Notification of Director's Interests

The Board of Universal Salvage plc (the 'Company') has been notified today that 
Mr. Barrie Hobbs has exercised 75,000 share options in the Universal Salvage plc
1995 Executive Share Option Scheme granted on 24 December 1998 @ 42.5 pence.

In addition, that Mr. Hobbs sold 60,000 option shares @ 478.5 pence on 4 January
2002.

Mr. Hobbs' resultant beneficial holding is 25,000 ordinary shares representing 
0.09% of the issued share capital of the Company, which currently stands at 
27,899,701 ordinary shares of 10 pence each.