LANCASHIRE HOLDINGS LIMITED - Holding(s) in Company

TR-1:         Notifications of Major Interests in Shares


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

2:    Reason for notification (yes/no)

An acquisition or disposal of voting rights                                         yes

An acquisition or disposal of qualifying financial instruments which may result     no
in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to           no
qualifying financial instruments

An event changing the breakdown of voting rights                                    no

Other (please specify):                                                             no




                                         Standard Life Investments (Holdings) Limited
3. Full name of person(s) subject to the (Parent Company) - 5.947% comprised of:
notification
                                         Standard Life Investments Limited - 5.945%
    obligation:
                                         Ignis Investment Services Limited - 0.002%

4. Full name of shareholder(s) (if       Vidacos Nominees\HSBC
different from 3.):

5. Date of the transaction (and date on
which the threshold                      27/11/2014
is crossed or reached):

6. Date on which issuer notified:        28/11/2014

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



8:    Notified Details

Voting rights attached to shares

Class/type of share   If possible use ISIN code         BMG5361W1047



Situation previous to the triggering transaction

Number of shares                   Number of voting rights

  11,328,494                             11,328,494



Resulting situation after the triggering transaction

Number of shares                     Number of voting rights           Percentage of
                                                                       voting rights

                                     Direct             Indirect       Direct Indirect

11,170,939                           7,205,391          3,965,548      3,836  2,111




Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of          Expiration Exercise/          No. of voting rights    Percentage of
financial        date       conversion period/ that may be acquired    voting rights
instrument                  date               (if the instrument
                                               exercised/converted)




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

Resulting situation after the triggering transaction



Type of financial Exercise Expiration Exercise/  Number of voting   % of voting rights
instrument        price    date       Conversion rights instrument
                                      period     refers to

                                                                     Nominal    Delta



Total (A+B+C)

Number of voting rights          Percentage of voting rights

     11,170,939                            5.947%



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

Standard Life Investments (Holdings) Limited (Parent Company) - 5.947%
comprised of:

Standard Life Investments Limited - 5.945%

Ignis Investment Services Limited - 0.002%



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:                           [e-mail]
                                            Standard Life Investments Ltd

15. Contact telephone number:               [phone]