Director/PDMR Shareholding

Lancashire Holdings Limited
11 May 2007


Lancashire Holdings Limited
11 May 2007

                             Director Shareholding

Lancashire Holdings Limited (the 'Company') has been notified that Martin
Thomas, a non executive Chairman of the Company, purchased 6,950 common shares
of US$0.50 each in the Company at a price of £3.5364 per share. The purchase
took place on 10th May, 2007. Martin Thomas's total holding in the Company
following the purchase is 6,950 shares.

For further information, please contact:

Lancashire Holdings
Neil McConachie                      [phone]
Greg Lunn                            [phone]

Financial Dynamics                   [phone]
Robert Bailhache


www.lancashiregroup.com

About Lancashire

Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a global
provider of specialty insurance  products.  Its insurance subsidiaries carry the
Lancashire group rating of A minus (Excellent) from A.M. Best with a  stable
outlook.  Lancashire has capital in excess of US$1 billion and its common shares
trade on AIM under the ticker  symbol LRE.  Lancashire is headquartered at
Mintflower Place, 8 Par-La-Ville Road, Hamilton HM 08, Bermuda.  The  mailing
address is Lancashire Holdings Limited, P.O. Box HM 2358, Hamilton HM HX,
Bermuda.  For more information on  Lancashire, visit the Company's website at
www.lancashiregroup.com.






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