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Universal Salvage (UVS)

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Monday 02 December, 2002

Universal Salvage

Director Shareholding

Notification of Director's Interests

The Board of Universal Salvage plc ("the Company") has been notified
that Mr. Jonathan C. Cook, Finance & Operations Director, acquired
50,000 ordinary 10 pence shares at £1.00 per share on Friday, 29
November 2002.

Mr. Cook's resultant holding is 60,000 ordinary shares of 10 pence each,
all being beneficially held. This represents 0.2% of the Company's
issued share capital.