Notice of Trading Update

Lancashire Holdings Limited
10 May 2006


                          Lancashire Holdings Limited

Hamilton, Bermuda, 10 May 2006


                   NOTICE OF TRADING UPDATE & CONFERENCE CALL


Lancashire Holdings Limited ('Lancashire' or 'the Company') intends to provide a
trading update on Wednesday 17 May at 0700 British Summer Time.

There will be a conference call to discuss the trading update on Wednesday 17
May at 1600 British Summer Time.  The dial-in for the conference call is +44 (0)
20 7365 1854.

This conference call will be hosted by Richard Brindle, Chief Executive Officer
and Chief Underwriting Officer; Neil McConachie, Chief Financial Officer and
Chief Operating Officer; and Simon Burton, Deputy Chief Underwriting Officer.

A replay of the conference call will be available for two weeks until 31 May
2006.  The dial in number for replay is [phone] and the pass code is
3344385#.  The replay facility will also be accessible at www.lancashire.bm.



For further information, please contact:


Lancashire Holdings                                   [phone]
Neil McConachie

Financial Dynamics                                    [phone]
Rob Bailhache


www.lancashire.bm


About Lancashire


Lancashire was established in 2005 as a new insurance and reinsurance business
to take advantage of the favourable underwriting conditions expected to arise
from the large insured losses incurred in 2004 and 2005.

Lancashire was admitted to AIM on 16 December 2005 following an Offer of Common
Shares to investors.  The Common Shares trade on AIM under the ticker symbol
LRE.






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