Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                         
                                                                                        
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer                                      
   of existing shares to which voting rights are                    Lancashire Holdings Ltd
   attached:ii                                                                             
                                                                                        
2. Reason for the notification (please tick the appropriate box or boxes):               
                                                                                        
   An acquisition or disposal of voting rights                                            X
                                                                                        
   An acquisition or disposal of qualifying financial instruments which may result         
   in the acquisition of shares already issued to which voting rights are attached         
                                                                                        
   An acquisition or disposal of instruments with similar economic effect to               
   qualifying financial instruments                                                        
                                                                                        
   An event changing the breakdown of voting rights                                        
                                                                                        
   Other (please specify):                                                                 
                                                                                        
3. Full name of person(s) subject to the                         Alken Luxembourg Sàrl  
   notification obligation:iii                                                             
                                                                                        
4. Full name of shareholder(s)                                       See Above          
   (if different from 3.):iv                                                              
                                                                                        
5. Date of the transaction and date on                                                  
   which the threshold is crossed or                                  27th January 2011    
   reached: v                                                                              
                                                                                        
6. Date on which issuer notified:                                  31st January 2011    
                                                                                        
7. Threshold(s) that is/are crossed or                                     5%           
   reached: vi, vii                                                                        
                                                                                        


 

8. Notified details:                                                                                    
                                                                                                        
A: Voting rights attached to shares viii, ix                                                            
                                                                                                        
Class/type   Situation previous                   Resulting situation after the triggering transaction  
of           to the triggering                                                                          
shares       transaction                                                                                
                                                                                                        
                                                                                                        
if possible    Number                 Number        Number    Number of voting        % of  voting rights 
using          of                     of            of shares rights                  x                   
the ISIN       Shares                 Voting                                                              
CODE                                  Rights                                                              
                                                    Direct    Direct xi Indirect xii  Direct  Indirect    
                                                                                                        
                                                                                                        
                                                                                                        
BMG5361W1047                                                                                            
               6,873,450              6,873,450     7,963,618 7,963,618 0             5.20%   0%          
                                                                                                        
                                                                                                        
                                                                                                        
                                                                                                        
                                                                                                        
B: Qualifying Financial Instruments                                                                     
                                                                                                        
Resulting situation after the triggering transaction                                                    
                                                                                                        
Type of        Expiration            Exercise/               Number of voting             % of voting   
financial      date xiii             Conversion Period xiv   rights that may be           rights        
instrument                                                   acquired if the                            
                                                             instrument is                              
                                                             exercised/ converted.                      
                                                                                                        
   N/A         N/A                           N/A             N/A                          N/A           
                                                                                                        
                                                                                                        
                                                                                                        
C: Financial Instruments with similar economic effect to Qualifying Financial                           
Instruments xv, xvi                                                                                     
                                                                                                        
Resulting situation after the triggering transaction                                                    
                                                                                                        
Type of       Exercise price        Expiration  Exercise/   Number of voting rights    % of voting      
financial                           date xvii   Conversion  instrument refers to       rights xix, xx   
instrument                                      period                                                  
                                                xviii                                                   
                                                                                                        
   N/A        N/A                     N/A       N/A         N/A                        Nominal Delta      
                                                                                                        
                                                                                       N/A   N/A        
                                                                                                        
                                                                                                        
                                                                                                        
Total (A+B+C)                                                                                           
                                                                                                        
Number of voting rights                                   Percentage of voting rights                   
                                                                                                        
7,963,618                                                 5.20%                                         
                                                                                                        


 

9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
                                                                                        
                                                                                        
Alken Fund - Pool European Opportunities -  7,735,735 shares, 5.05%                     
                                                                                        
                                                                                        
                                                                                        
Alken Fund - Small Cap Europe Pool - 227,883 shares, 0.15%                              
                                                                                        
                                                                                        
                                                                                        
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                              N/A          
                                                                                        
11. Number of voting rights proxy holder will cease                                     
to hold:                                                                                
                                                                           N/A          
                                                                                        
12. Date on which proxy holder will cease to hold                          N/A          
voting rights:                                                                          
                                                                                        
                                                                                        
                                                                                        
                                                                                        
13. Additional information:                                  Not Applicable             
                                                                                        
14. Contact name:                                                 Philipp Gregor        
                                                                                        
15. Contact telephone number:                                  ([phone]       
                                                                                        

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