Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)                              

1. Identity of the issuer or the underlying     Lancashire Holdings Limited    
   issuer 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                              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                                                            
                                                                               
   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     Robert S. Pitts, Jr., a United States    
   the notification obligation: (iii)    Citizen                                  
                                                                               
                                         Steadfast Capital Management LP, a       
                                         Delaware limited partnership             
                                                                               
                                         Steadfast Advisors LP, a Delaware limited
                                         partnership                              
                                                                               
4. Full name of shareholder(s) (if       Steadfast Capital, L.P., a Delaware      
   different from 3.): (iv)              limited partnership                      
                                                                               
                                         American Steadfast, L.P., a Delaware     
                                         limited partnership                      
                                                                               
                                         Steadfast International Master Fund Ltd.,
                                         a Cayman Island exempted company.        
                                                                               
5. Date of the transaction and date                 7 April 2010               
   on which the threshold is crossed or                                           
   reached: (v)                                                                   
                                                                               
6. Date on which issuer notified:                    4 May 2010                
                                                                               
7. Threshold(s) that is/are crossed                      4%                    
   or reached: (vi, vii)                                                          

8. Notified details:
   A: Voting rights attached to shares (viii, ix)

   Class/type of Situation previous               Resulting situation after             
   shares         to the triggering                    the triggering                   
                     transaction                         transaction                    
                                                                                     
   if possible    Number    Number   Number        Number of            % of voting     
   using            of        of       of           voting              rights (x)      
   the ISIN CODE  Shares    Voting   shares         rights                              
                            Rights                                                      
                                                                                     
                                     Direct  Direct    Indirect    Direct    Indirect   
                                              (xi)       (xii)                          
                                                                                     
   Common shares           6,721,440                 7,043,439 (as         4.33% (as at 
                                                      at the date           the date of 
   BMG5361W1047                                         of this                this     
                                                  notification)         notification)
                                                                                     
   B: Qualifying Financial Instruments                                                  
                                                                                     
   Resulting situation after the triggering transaction                                 
                                                                                     
   Type of financial  Expiration     Exercise/        Number of voting     % of voting  
       instrument        date    Conversion Period   rights that may be      rights     
                        (xiii)         (xiv)          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    Conversion rights instrument rights (xix, xx)
     instrument              (xvii)     period       refers to                     
                                       (xviii)                                     
                                                                                
                                                                   Nominal   Delta 
                                                                                

   Total (A+B+C)                                                                  
                                                                               
           Number of voting rights               Percentage of voting rights      
                                                                               
      7,043,439 (as at the date of this         4.33% (as at the date of this     
                notification)                           notification)             

9. Chain of controlled undertakings through which the voting rights and/or the 
   financial instruments are effectively held, if applicable: (xxi)               
                                                                               
   As at the date of this notification:                                           
                                                                               
    a. Steadfast Capital, L.P. holds 484,299 common shares (0.3% of the voting    
       rights) in the issuer;                                                     
                                                                               
    b. American Steadfast, L.P. holds 2,234,601 common shares (1.37% of the voting
       rights) in the issuer; and                                                 
                                                                               
    c. Steadfast International Master Fund Ltd. holds 4,324,539 common shares     
       (2.66% of the voting rights) in the issuer.                                
                                                                               
   Robert S. Pitts, Jr. is the managing member of Steadfast Capital Management LP 
   and Steadfast Advisors LP.                                                     
                                                                               
   Steadfast Advisors LP has the power to vote and dispose of securities held by  
   Steadfast Capital, L.P.                                                        
                                                                               
   Steadfast Capital Management LP has the power to vote and dispose of securities
   held by American Steadfast, L.P. and Steadfast International Master Fund Ltd.  

   Proxy Voting:                                                                  
                                                                               
10. Name of the proxy holder:                             N/A                  
                                                                               
11. Number of voting rights proxy                         N/A                  
    holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will                       N/A                  
    cease to hold voting rights:                                                   

13. Additional information:                                                    
                                                                               
14. Contact name:                                  Joseph M. Carney            
                                                                               
15. Contact telephone number:                        212-201-7707              

   For notes on how to complete form TR-1 please see the FSA website.