Holding(s) in Company

TR-1: Notifications of Major Interests in Shares                               
                                                                               
                                                                 Lancashire    
                                                                 Holdings Ltd. 
1. Identity of the issuer or the underlying issuer of existing                 
shares to which voting rights are attached:                                    
                                                                               
                                                                               
2. Reason for notification (yes/no)                                            
                                                                               
                                                                          Yes  
An acquisition or disposal of voting rights                                    
                                                                               
                                                                               
An acquisition or disposal of financial instruments which may result in   No   
the acquisition of shares already issued to which voting rights are            
attached                                                                       
                                                                               
                                                                          No   
An event changing the breakdown of voting rights                               
                                                                               
                                                                          No   
Other (please specify):______________                                          
                                                                               
                                                             William Blair &   
3. Full name of person(s) subject to notification            Company, L.L.C.   
obligation:                                                                    
                                                                               
                                                                                
4. Full name of shareholder(s) (if different from 3):                          
                                                                               
                                                                                
5. Date of transaction (and date on which the threshold is   March 3, 2011     
crossed or reached if different):                                              
                                                                               
                                                             March 8, 2011     
                                                                               
6. Date on which issuer notified:                                              
                                                                               
                                                             Passed the 5%     
                                                             threshold         
7. Threshold(s) that is/are crossed or reached:                                
                                                                               


8: Notified Details                                                            
                                                                               
A: Voting rights attached to shares                                            
                                                                               
                                                                               
                                                                               
Class/type   Situation previous to Resulting situation after the triggering    
of shares    the triggering        transaction                                 
             transaction                                                       
If possible                                                                    
use ISIN     Number of Number of   Number of Number of voting   Percentage of  
code         shares    voting      shares    rights             voting rights  
                       rights                                                  
                                                                               
                                                                               
                                             Direct    Indirect Direct Indirect
                                                                               
BMG5361W1047 7,667,010 7,667,010   7,673,010 7,673,010          5.00%          
                                                                               

 

B: Financial Instruments                                                       
                                                                               
                                                                               
                                                                               
Resulting situation after the triggering transaction                           
                                                                               
                                                                               
                                                                               
Type of     Expiration Exercise/    No. of voting rights that may   Percentage 
financial   date       conversion   be acquired (if the instrument  of voting  
instrument             period/date  exercised/converted)            rights     
                                                                               
N/A         N/A        N/A          N/A                             N/A        
                                                                               
                                                                               
                                                                               

Total (A+B)                                        
                                                   
Number of voting rights Percentage of voting rights
                                                   
7,673,010               5.00%                      
                                                   


9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                     
                                                                               
William Blair & Company, L.L.C., (William Blair) is an investment adviser      
registered under the U.S. Investment Advisers Act of 1940.  As such, pursuant  
to advisory contracts, William Blair has the power to purchase and sell        
securities on behalf of its clients and the power to vote for most clients.    
Persons other than William Blair are entitled to receive all dividends from,   
and proceeds from the sale of all securities reported hereunder.               
                                                                               
                                                                               
  

Proxy Voting:                                                                  
                                                                               
                                                                               
                                                                               
10. Name of proxy holder:                             William Blair & Company, 
                                                      L.L.C.                   
                                                                               
                                                                               
11. Number of voting rights proxy holder will cease                            
to hold:                                              N/A                      
                                                                               
                                                                               
                                                                               
12. Date on which proxy holder will cease to hold                              
voting rights:                                        N/A                      
                                                                               
                                                                               
 
13. Additional information:                       
                                                  
                                                  
                                                  
14 Contact name:            Walter R. Randall, Jr.
                                                  
                                                  
                                                  
15. Contact telephone name: [phone]