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Universal Salvage (UVS)

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Tuesday 11 February, 2003

Universal Salvage

Holding(s) in Company

11 February, 2003

UNIVERSAL SALVAGE PLC

Disclosure of Interests in Shares

Universal Salvage plc ("the Company") has today received notification
that AEGON UK plc Group of Companies, has disposed of 45,000 ordinary
shares and their notifiable interest is varied from over 4% to 3.94% in
the ordinary 10p shares of the Company.

This notification is made on behalf of Scottish Equitable plc, Scottish
Equitable (Managed Funds) Limited, AEGON Fund Management UK Ltd, AEGON
Investment Management UK Ltd, AEGON Asset Management UK plc, Scottish
Equitable Trustees Limited, Guardian Assurance plc, Guardian Linked Life
Assurance Limited, Guardian Pensions Management Limited and Guardian
Unit managers Limited.

Enquiries: Anne Thomas, Universal Salvage plc. Telephone 01234 766500