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Universal Salvage (UVS)

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Thursday 12 February, 2004

Universal Salvage

Disclosure of Interest in Shares

                          UNIVERSAL SALVAGE PLC

                    Disclosure of Interest in Shares

12th February 2004

Universal Salvage plc (the "Company") has received notification from
Universities Superannuation Scheme Limited ("USS") that following a
recent sale in the market of 135,633 ordinary 10p shares in the Company
their holding has decreased to 1,064,367 ordinary 10p shares.

1,000,000  UK Smaller Companies registered under Chase Nominees Ltd
64,367     Goldman Sachs Asset Management registered under State Street
           Nominees Ltd

USS holding currently represents 3.767% of the issued share capital of
the Company.

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