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UNIVSAL.SALVAGE (UVS)

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Tuesday 28 May, 2002

UNIVSAL.SALVAGE

Disclosure of Interest in Shares

COMPANIES ACT 1985 PART VI
DISCLOSURE OF INTERESTS IN SHARES

Universal Salvage plc ("the Company") has received notification from
AEGON Asset Management UK that following a disposal of shares in the
Company, the notifiable interest held within AEGON UK plc Group of
Companies is reduced from 5% to 4.10% of the Company issued share
capital which stands at 28,074,880 ordinary shares of 10p each.

No. of ordinary shares sold: 315,462

Resultant Holding: 1,151,500

Held by: Chase Nominees Limited