Holding(s) in Company

12 Oct 2011 18:22

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are Lancashire Holdings Limitedattached:ii 2. Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights

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

An acquisition or disposal of instruments with similar economic effect to xqualifying financial instruments An event changing the breakdown of voting rights Other (please specify): Correction of Shareholder Name 3. Full name of person(s) subject to the Frank W. Cawoodnotification obligation:iii Timothy W. Anders Frank W. Cawood IRA, Timothy W. Anders 401K Account, Frank W. Cawood & Associates, Inc., The Cawood Foundation, Inc. Gayle R. Cawood IRA, Irrevocable Living Trusts (7) FBO Nathan Paul Cruver, Joelle Rachel Cruver, Andrew Reuben Cruver, Seth4. Full name of shareholder(s) David Cruver, Natalie C. Cruver, (if different from 3.):iv Benjamin John Cawood, Joseph Louis Cawood, The Cawood Family SO, Inc., Sandra Evans, Sandra Evans, IRA, Miriam McFarland and Peter Sautov 5. Date of the transaction and date on which the threshold is crossed or October 11, 2011reached: v 6. Date on which issuer notified: October 11, 2011 7. Threshold(s) that is/are crossed or Over 11%reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/ Situation previous Resulting situation after the triggering type of to the triggering transaction shares transaction if Number Number Number Number of voting % of voting rights xpossible of of of shares rights using Shares Voting the ISIN Rights CODE Indirect Direct Direct xi xii Direct Indirect 2,010,647 1,412,019 1,412,019 598,628 0.896% 0.380% Common 1,412,019 Share B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of voting financial date xiii Conversion Period xiv rights that may be rights instrument acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction Type of Exercise price Expiration Exercise/ Number of voting % of voting rights financial date xvii Conversion rights instrument xix, xx instrument period refers to xviii Nominal Delta Until Warrant 5.00 USD 12/16/2015 Expiry 15,657,577 9.932% Total (A+B+C) Number of voting rights Percentage of voting rights 17,668,224 11.207%

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

Frank W. Cawood controls the voting rights for the Frank W. Cawood IRA, Frank

W. Cawood & Associates, Inc. and for The Cawood Foundation, Inc. Mr. Cawood may be deemed to have voting control for The Cawood Foundation, Inc. shares, but he disclaims any beneficial ownership.

Timothy W. Anders controls the voting rights for Timothy W. Anders 401K Account and as the Trustee for Irrevocable Living Trusts (7) FBO Nathan Paul Cruver,

Joelle Rachel Cruver, Andrew Reuben Cruver, Seth David Cruver, Natalie C.

Cruver, Benjamin John Cawood and Joseph Louis Cawood. Mr. Anders may be deemed to have voting control for Irrevocable Living Trust shares, but he disclaims

any beneficial ownership. Gayle R. Cawood controls the voting rights for the Gayle R. Cawood IRA Account.

Sandra Evans controls the voting rights for the Sandra Evans IRA Account and

the Sandra Evans Account. Miriam McFarland controls the voting rights for the Miriam McFarland Account. Peter Sautov controls the voting rights for the Peter Sautov Account Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: This information is to the best of our knowledge. 14. Contact name: Timothy W. Anders 15. Contact telephone number: 770-487-6307