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Universal Salvage (UVS)

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Monday 02 December, 2002

Universal Salvage

Change in Issued Share Capital

UNIVERSAL SALVAGE PLC

Notification of Change in Issued Share Capital

The Board of Universal Salvage plc (the "Company") announces that,
following the exercise of 10,000 share options in the Universal Salvage
1995 Executive Share Option Scheme and 14,453 share options in the
Universal Salvage SAYE Share Option Scheme on 29 November 2002, the
issued share capital of the Company has increased to 28,099,333 ordinary
shares of 10 pence each.