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Universal Salvage (UVS)

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Friday 02 February, 2007

Universal Salvage

Re Preliminary Approach

Universal Salvage PLC
02 February 2007



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN



                             Universal Salvage plc
                           ('Universal' or 'Company')

                       Statement Re Preliminary Approach

Universal notes the recent movement in its share price. Universal confirms that
it has received a preliminary approach regarding a potential offer for the
Company at a price of 200 pence per ordinary share in cash.

This announcement has not been made with the agreement or approval of the
potential offeror and there can be no certainty that an offer will be made nor
as to the terms on which any offer might be made.

A further announcement will be made in due course, as appropriate.

Pursuant to Rule 2.10 of the City Code, Universal confirms that it has
28,485,890 ordinary shares of 10p each in issue and admitted to trading on the
London Stock Exchange (ISIN GB0009198838).


Enquiries:

Panmure Gordon               Telephone: 020 7459 3600
Hugh Morgan
Rakesh Sharma

Biddicks                     Telephone: 020 7448 1000
Katie Tzouliadis

The Directors of Universal accept responsibility for the information contained
in this announcement. To the best of knowledge and belief of the Directors, who
have taken all reasonable care to ensure such is the case, the information
contained in this announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.

Panmure Gordon is acting for Universal and no one else in connection with this
announcement and will not be responsible to anyone other than Universal for
providing the protections afforded to clients of Panmure Gordon or for providing
advice in relation to the contents of this announcement.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in
1% or more of any class of 'relevant securities' of Universal, all ' dealings'
in any 'relevant securities' of Universal (including by means of an option in
respect of, or a derivative referenced to, any such 'relevant securities') must
be publicly disclosed by no later than 3:30pm (London time) on the London
business day following the date of the relevant transaction. This requirement
will continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the 'offer period' otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an
'interest' in 'relevant securities' of Universal, they will be deemed to be a
single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of Universal by the potential offeror or Universal, or by any of
their respective 'associates', must be disclosed by no later than 12:00 noon
(London time) on the London business day following the date of the relevant
transaction.

A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by the virtue of any option
in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the
Takeover Panel's website. If you are in any doubt as to whether or not you are
required to disclose a 'dealing' under Rule 8, you should consult the Takeover
Panel.



                      This information is provided by RNS
            The company news service from the London Stock Exchange