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Universal Salvage (UVS)

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Tuesday 12 June, 2007

Universal Salvage

Re: Recommended Offer

Universal Salvage PLC
12 June 2007


NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO OR
FROM ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

12 June 2007

                             UNIVERSAL SALVAGE PLC

                             Recommended Cash Offer

                                       by

        Copart (UK) Limited (a wholly-owned subsidiary of Copart, Inc.)

                                      for

                  Universal Salvage plc ('Universal Salvage').


Court sanction of Scheme of Arrangement

The board of Universal Salvage is pleased to announce that at the Scheme Court
Hearing held earlier today the Court sanctioned the Scheme. The Scheme still
remains conditional on the confirmation by the Court of the reduction of capital
which forms part of the Scheme. The Reduction Court Hearing is scheduled for 14
June 2007.

Dealings in Universal Salvage Shares on the London Stock Exchange are expected
to be suspended at 7.30 a.m. on 13 June 2007. It is expected that the Scheme
will become effective on 15 June 2007 and that Universal Salvage Shares will
cease to be listed on the Official List and their admission to trading on the
London Stock Exchange will be cancelled at 8:00 a.m. (London time) on 15 June
2007.

Upon completion of the Scheme, Universal Salvage Shareholders will be entitled
to receive 200 pence in cash for each Universal Salvage Share held at the Scheme
Record Time. Settlement of the cash consideration is expected to be effected
within 14 days of the Effective Date.

Terms defined in the Scheme Document have the same meaning in this announcement.

Enquiries:

Universal Salvage

Avril Palmer-Baunack Tel: +44 (0)1234 762283


Panmure Gordon

Hugh Morgan Tel: +44 (0)20 459 3600
Rakesh Sharma

Biddicks
Katie Tzouliadis Tel: +44 (0)20 448 1000



Panmure Gordon, which is authorised and regulated in the United Kingdom for the
conduct of investment business by the Financial Services Authority, is acting
exclusively for Universal Salvage and no one else in connection with the matters
described in this announcement and will not be responsible to anyone other than
Universal Salvage for providing the protections afforded to clients of Panmure
Gordon nor for providing advice in relation to the matters described in this
announcement.




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