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Universal Salvage (UVS)

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Friday 25 April, 2003

Universal Salvage

Director Shareholding


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
Andrew Somerville, Finance Director, in respect of share option grants
in the Universal Salvage 1995 Share Option Scheme ("the Unapproved
Scheme") and the Universal Salvage 2000 Share Option Scheme ("the
Approved Scheme"):

     20,298 shares in the Unapproved Scheme
     29,702 shares in the Approved Scheme

The additional information required is as follows:

1. The date of grant of the above option shares was 9 April 2003
2. The grant price was £1.01
3. Amount paid for option shares - Nil
4. Description of shares - ordinary shares of 10 pence each
5. Period during which shares are exercisable in the Unapproved
   Scheme: 9 April 2006 - 9 April 2010
6. Period during which shares are exercisable in the Approved Scheme:
9  April 2006 - 8 April 2013
7. Total option shares held following this notification:

A. F. Somerville - 50,000 shares

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