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Universal Salvage (UVS)

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Tuesday 03 February, 2004

Universal Salvage

Notification of Director's Interests

3 February 2004


                          UNIVERSAL SALVAGE PLC

                  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
Nigel Sandy, Chief Executive Officer (Designate), in respect of share
option grants in the Universal Salvage 1995 Share Option Scheme ("the
Unapproved Scheme") and the Universal Salvage 2000 Share Options Scheme
("the Approved Scheme"):

69,073 shares in the Unapproved Scheme
30,927 shares in the Approved Scheme

The additional information required is as follows:

1    The date of grant of the above option shares was 21 January 2004
2    The grant price was 97 pence
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
     21 January 2007 - 21 January 2011
6    Period during which shares are exercisable in the Approved Scheme:
     21 January 2007 - 20 January 2014
7    Total option shares held following this notification:

N D A Sandy - 100,000 Option shares

NB - the delay in notification is due to the acceptance period being 30
days from the date of grant.

Enquiries:     Anne Thomas, Universal Salvage plc