Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

CATCO REINSURANCE FUND ORD USD0.0001

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

p

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

X

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

X

An event changing the breakdown of voting rights

X

Other (please specify):

X

3. Full name of person(s) subject to thenotification obligation: iii

The Co-operative Asset Management

4. Full name of shareholder(s)  (if different from 3.):iv

Co-operative Insurance Society Limited

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

20th December 2010

6. Date on which issuer notified:

21st December 2010

7. Threshold(s) that is/are crossed orreached: vi, vii

20%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

BMG1961Q1006

0

0

16,078,300

16,078,300

20%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

16,078,300

20%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

N/A

14. Contact name:

Sarah Pickering

15. Contact telephone number:

0161 903 2079

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

The Co-operative Asset Management

Contact address

(registered office for legal entities)

CIS Building

Miller St

Manchester

M60 0AL

Phone number & email

See Information Below

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

Sarah Pickering

Contact address

CIS Building

22nd Floor

Miller St

Manchester

M60 0AL

Phone number & email

0161 903 2079

Sarah.kate.pickering@cfs.coop

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information