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Universal Salvage (UVS)

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Friday 07 February, 2003

Universal Salvage

Holding(s) in Company

7 February, 2003

UNIVERSAL SALVAGE PLC

Notification of Change of Substantial Holding

The Board of Universal Salvage plc ("the Company") has today been
notified of the following change to a substantial holding in the
Company:

Clifford Sydney Bassett, Esq.

Mr. Bassett purchased 220,000 ordinary 10 pence shares today at £1.00
per share. His resultant beneficial holding is 2,812,192 ordinary shares
representing 10% of the issued share capital of the Company, which
stands at 28,107,547.

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