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Universal Salvage (UVS)

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Friday 14 February, 2003

Universal Salvage

Holding(s) in Company

UNIVERSAL SALVAGE PLC

Disclosure of Interests in Shares

Universal Salvage plc ("the Company") has today received notification
that, following the disposal of 970,400 ordinary 10 pence shares, the
AEGON UK plc Group of Companies no longer has a notifiable interest in
the share capital 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