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Universal Salvage (UVS)

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Monday 21 January, 2002

Universal Salvage

Issued Share Capital Increase

Universal Salvage PLC
21 January 2002

           Notification of Change in Issued Share Capital

The Board of Universal Salvage plc (the 'Company') announces that, following the
exercise of 50,000 share options in the Universal Salvage plc 1995 Executive
Share Option Scheme 7 January 2002, the issued share capital of the Company has
increased to 27,949,701 Ordinary Shares of 10 pence each.

Enquiries: Anne Thomas 
           Universal Salvage plc     01234 762225


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