Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

CATCo Reinsurance Opportunities Fund Limited

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

An acquisition or disposal of voting rights

 Yes

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

 No

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

 No

An event changing the breakdown of voting rights

 No

Other (please specify):

 No

3. Full name of person(s) subject to the notification obligation:

F&C Asset Management plc

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

See box 9 below

5. Date of the transaction and date on which the threshold is crossed or reached:

Placing Date 18 May 2011

Date of Admittance to Market 25 May 2011

6. Date on which issuer notified:

27 May 2011

7. Threshold(s) that is/are crossed or reached:

5%

8. Notified details:

A: Voting rights attached to shares

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

Direct

Direct

Indirect

Direct

Indirect

BMG1962E1066

C-Shares USD0.0001

0

0

18,200,000

-

18,200,000

-

8.55%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/ConversionPeriod

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

% of votingrights

 -

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate

Exercise/Conversionperiod

Number of votingrights instrumentrefers to

% of voting rights

 -

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

18,200,000

8.55%

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

Proxy Voting:

10. Name of proxy holder:

F&C Asset Management Plc

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:

Based on total voting rights of 212,938,737

14 Contact name:

Mike Bassi, F&C Asset Management plc

15. Contact telephone name:

0131 718 1093

Annex: Notification of major interests in shares

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

Full name

(including legal form of legal entities)

CATCo Reinsurance Opportunities Fund Limited

Contact address

(registered office for legal entities)

CATCo Investment Management Ltd.2nd Floor, S E Pearman Building9 Par-La-Ville RoadHamilton HM 11Bermuda

Phone number & email

E-mail: jason.bibb@catcoim.com

Telephone: +1 441 531 2227

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

Mike Bassi, F&C Asset Management plc

Contact address

80 George Street, Edinburgh EH2 3BU

Phone number & email

0131 718 1093

michael.bassi@fandc.com

Other useful information

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

C: Additional information