Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                         
                                                                                        
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer                      Lancashire Holdings
   of existing shares to which voting rights are                               com USD 0.50
   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                                Woodford Investment
   notification obligation:iii                                          Management LLP
                                                                                        
                                                                         State Street as
                                                                   custodian for several
                                                                  St James's Place funds
4. Full name of shareholder(s)                                                          
   (if different from 3.):iv                                           Northern Trust as
                                                                    custodian for the CF
                                                                  Woodford Equity Income
                                                                                    Fund
                                                                                        
5. Date of the transaction and date on                                                  
   which the threshold is crossed or                                       18th June 2014
   reached: v                                                                              
                                                                                        
6. Date on which issuer notified:                                         20th June 2014
                                                                                        
7. Threshold(s) that is/are crossed or                                                3%
   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                                                                               
                                                                                                       
             Number                 Number        Number   Number of voting        % of  voting rights 
if possible  of                     of            of       rights                  x                   
using        Shares                 Voting        shares                                               
the ISIN                            Rights                                                             
CODE                                              Direct   Direct xi Indirect xii  Direct  Indirect    
                                                                                                       
BMG5361W1047                                                                                           
                                                                                                       
Com USD 0.50 5,342,281              5,342,281                        5,898,922             3.15%       
                                                                                                       
                                                                                                       
                                                                                                       
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.                      
                                                                                                       
                                                                                                       
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                                                  
                                                                                                       
                                                                                      Nominal Delta      
                                                                                                       
                                                                                                      
Total (A+B+C)                                                                                          
                                                                                                       
Number of voting rights                                  Percentage of voting rights                   
                                                                                                       
5,898,922                                                3.15%                                         
                                                                                                       

9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
    Woodford Investment Management LLP is the investment manager for certain St         
     James's Place funds and the CF Woodford Equity Income Fund, and as such is         
                 entitled to exercise the voting rights attached to the shares.         
                                                                                        
                                                                                        
                                                                                        
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                                           
                                                                                        
11. Number of voting rights proxy holder will cease                                     
to hold:                                                                                
                                                                                        
12. Date on which proxy holder will cease to hold                                       
voting rights:                                                                          
                                                                                        
                                                                                        
13. Additional information:                                                             
                                                                                        
14. Contact name:                                                                       
                                                                                        
15. Contact telephone number: