Director/PDMR Shareholding

Notification of Transactions of Directors/Persons Discharging ManagerialResponsibility and Connected Persons 1. Name of the issuer 2. State whether the notification related to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made 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 Lancashire Holdings Limited (the "Company") 3. Name of the person discharging 4. State whether notification relates to managerial responsibilities/ a person connected with a person director discharging managerial responsibilities/director named in 3 and identify connected person N/A Simon Fraser (Non-Executive Director) 5. Indicate whether the 6. Description of shares (including notification is in respect of a class), debentures or derivatives or holding of the person referred financial instruments relating to to in 3 or 4 above or in respect shares of a non-beneficial interest Person referred to at 3 above. Common shares of US$0.50 each 7. Name of registered shareholder 8. State the nature of the transaction (s) and, if more than one, the number of shares held by each of them Purchase of 1,000 shares Simon Fraser 9. Number of shares, debentures or 10. Percentage of issued class acquired financial instruments relating (treasury shares of the class should to shares acquired not be taken into account when calculating percentage) 1,000 shares 0.0005% 11. Number of shares, debentures or 12. Percentage of issued class disposed financial instruments relating (treasury shares of the class should to shares disposed not be taken into account when calculating percentage) N/A N/A 13. Price per share or value of 14. Date and place of transaction transaction 05 May 2015 - London, England 1,000 at £6.2464 per share 15. Total holding following 16. Date issuer informed of transactions notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) 05 May 2015 1,000 common shares (0.0005%) If a person discharging managerial responsibilities has been granted options bythe 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 grant of 20. Description of shares or the option debentures involved (class and number) 21. Exercise price (if fixed at time of 22. Total number of shares or grant) or indication that price is to debentures over which options be fixed at the time of exercise held following notification 23. Any additional 24. Name of contact and telephone number for information queries Christopher Head +44 (0) 207 264 4145 Name of authorised official if issuer making notification Christopher HeadCompany Secretary05 May 2015