LANCASHIRE HOLDINGS LIMITED - Holding(s) in Company

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 Ltd
attached:ii

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

An acquisition or disposal of voting rights                                        x

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
qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the                             Woodford Investment
notification obligation:iii                                         Management LLP (WIM)

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

5. Date of the transaction and date on
which the threshold is crossed or                                                15.8.14
reached: v

6. Date on which issuer notified:                                                18.8.14

7. Threshold(s) that is/are crossed or                                                5%
reached: vi, vii





8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type   Situation previous          Resulting situation after the triggering
of           to the triggering           transaction
shares       transaction

             Number          Number      Number      Number of voting    % of  voting
if possible  of              of          of shares   rights              rights x
using        Shares          Voting
the ISIN                     Rights      Direct      Direct xi  Indirect Direct Indirect
CODE                                                            xii



                                          10,482,682
             8,652,281       8,652,281               10,482,682      n/a  5.51%      n/a
BMG5361W1047





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
financial                    date xvii  Conversion   rights instrument     rights xix,
instrument                              period xviii refers to             xx



                                                                           Nominal Delta


Total (A+B+C)

Number of voting rights                            Percentage of voting rights

10,482,682                                         5.51%





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



Woodford Investment Management LLP as Investment Manager


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:

14. Contact name:                                                               Jon Webb

15. Contact telephone number:                                               01865 809023