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Universal Salvage (UVS)

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Tuesday 07 January, 2003

Universal Salvage

Director Shareholding

7 January 2003

UNIVERSAL SALVAGE PLC

Notification of Director's Interests

The Board of Universal Salvage plc ("the Company") has today been
notified by The Trustee of the Universal Salvage plc 2000 Employees'
Share Trust that Forms of Acceptance of Grant have been received from
the following director in respect of share option grants in the
Universal Salvage 1995 Share Option Scheme ("the Scheme"):

     M. C. Hynes         30,000 option shares


The additional information required is as follows:

1.   The date of grant of the above option shares was 10 December 2002
2.   The grant price was £1.27
3.   Amount paid for option shares - Nil
4.   Description of shares - ordinary shares of 10 pence each
5.   Period during which shares are exercisable:  10 December 2005 - 10
     December 2009
6.   Total option shares held following this notification:
     M. C. Hynes - 161,384

N.B.  The delay in notification is due to the acceptance period being 30
days from the date of grant.


Enquiries:     Anne Thomas, Universal Salvage plc
               Telephone:  01234 762225