LANCASHIRE HOLDINGS LIMITED - Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi



1. Identity of the issuer or the underlying issuer          Lancashire Holdings Limited
of existing shares to which voting rights are
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                                                1.10.14
reached: v

6. Date on which issuer notified:                                                2.10.14

7. Threshold(s) that is/are crossed or                                                6%
reached: vi, vii


8. Notified details:

A: Voting rights attached to shares viii, ix

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



             9,652,281      9,652,281
                                           11,434,057         11,434,057      n/a   6.04%      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      Expiration    Exercise/           Number of voting      % of voting
financial     price         date xvii     Conversion period   rights instrument     rights xix, xx
instrument                                xviii               refers to



                                                                                    Nominal Delta

Total (A+B+C)

Number of voting rights                              Percentage of voting rights

11,434,057                                           6.04%


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