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Universal Salvage (UVS)

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Wednesday 01 December, 2004

Universal Salvage

Disclosure of Interest in Shares

                              UNIVERSAL SALVAGE PLC

                        Disclosure of Interest in Shares

1 December 2004

Universal Salvage plc (the "Company") has received notification that the
management of the Canada Life Unit Trusts has been transferred to Capita
Financial Managers Limited (CFM).  The Canada Life Group through Canada Life
Asset Management Limited continue to be investment managers of the funds.

The holding of shares in the Company in which Canada Life Group of companies
have an interest is as follows:

Canada Life Limited                    606,840       2.15%
CF Canlife Unit Trusts (managed by     593,160       2.10%
CFM)                                   shares
Total Interest                                       4.25%

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