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Universal Salvage (UVS)

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Tuesday 01 April, 2003

Universal Salvage

Holding(s) in Company

Universal Salvage PLC
01 April 2003

                             UNIVERSAL SALVAGE PLC

                        Disclosure of Interest in Shares

Universal Salvage plc ('the Company') received notification from Merrill Lynch
Investment Managers Limited on 31 March 2003 that, following the disposal of
125,000 ordinary 10p shares of the Company, they no longer have a notifiable
interest in the Company.

This notification is made on behalf of BNY Trust Company Limited as Trustee of
the Merrill Lynch Alpha Specialist Situations Investment Fund.

Enquiries:     Anne Thomas     Universal Salvage plc     Telephone 01234 766500

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