Lancashire Holdings Regulatory News (LRE)

23 Mar 2012 18:18

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

1. Name of the issuer 2. State whether the notification

related to (i) a transaction Lancashire Holdings Limited notified in accordance with DTR 3.1.2 R, (ii) a disclosure made (the "Company") in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006) (i) a transaction notified in accordance with DTR 3.1.2 R

3. Name of the person discharging 4. State whether notification

managerial responsibilities/ relates to a person connected director with a person discharging managerial responsibilities/ Robert Spass (Non-Executive director named in 3 and identify Director) connected person N/A

5. Indicate whether the notification 6. Description of shares (including

is in respect of a holding of the class), debentures or derivatives person referred to in 3 or 4 or financial instruments relating above or in respect of a to shares non-beneficial interest Common shares of US$0.50 each Person referred to at 3 above.

7. Name of registered shareholder(s) 8. State the nature of the

and, if more than one, the number transaction of shares held by each of them Sale of 82,000 shares Robert Spass

9. Number of shares, debentures or 10. Percentage of issued class

financial instruments relating to acquired (treasury shares of the shares acquired class should not be taken into account when calculating N/A percentage) N/A

11. Number of shares, debentures or 12. Percentage of issued class

financial instruments relating to disposed (treasury shares of the shares disposed class should not be taken into account when calculating 82,000 shares percentage) 0.0515%

13. Price per share or value of 14. Date and place of transaction transaction 12.02 USD per share 23 March 2012 - London, England 15. Total holding following 16. Date issuer informed of

notification and total percentage transactions holding following notification (any treasury shares should not 23 March 2012 be taken into account when calculating percentage) 81,648 common shares (0.0512 %)

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant 18. Period during which or date on which exercisable 19. Total amount paid (if any) for 20. Description of shares or grant of the option debentures involved (class and number) 21. Exercise price (if fixed at time 22. Total number of shares or of grant) or indication that debentures over which options

price is to be fixed at the time held following notification

of exercise 23. Any additional information 24. Name of contact and telephone

number for queries In addition to the securities noted in question 15 above Robert Christopher Head +44 (0) 207 264 Spass also holds the following 4145 interests in the Company: Founder warrants - 809,135

Name of authorised official if issuer making notification

Christopher Head Assistant Company Secretary 23 March 2012