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Universal Salvage (UVS)

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Wednesday 29 September, 2004

Universal Salvage

AGM Statement

Universal Salvage PLC
29 September 2004

29 September, 2004

                             UNIVERSAL SALVAGE PLC

                                 AGM STATEMENT

At Universal Salvage's Annual General Meeting today, Alexander Foster, Chairman,
made the following statement,

'As we stated in our Annual Report, the actions that we are taking will ensure
that we are competitive and in good shape to turn the Company around and rebuild

Following the successful negotiation of our new banking facilities in July, the
focus of our activities has been on reducing the Group's cost base and improving
operational efficiency. We have already made progress in both these areas.

Discussions concerning the disposal of the Redbourn site and other non-core
property assets are well advanced.

Trading since the beginning of the new financial year has been in line with our
business plan and our net debt position has been consistently better than our


Universal Salvage plc                              Tel: 01234 762283
Nigel Sandy, Chief Executive
Andy Somerville, Finance Director

Katie Tzouliadis                                   Tel: 020 7448 1000

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