Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                          
                                                                                        
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer                 Lancashire Holdings  
of existing shares to which voting rights are                            Limited        
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                         HSBC Holdings plc      
notification obligation:iii                                                             
                                                                                        
                                                                 HSBC Bank plc          
                                                                                        
                                                                 HSBC Global Asset      
                                                                 Management             
                                                                 (International) Limited
                                                                                        
                                                                 HSBC Global Asset      
                                                                 Management (UK) Limited
                                                                                        
4. Full name of shareholder(s)                                   HSBC Investment        
 (if different from 3.):iv                                       Management             
                                                                                        
                                                                 HSBC Private Bank      
                                                                 (Suisse) SA            
                                                                                        
                                                                 HSBC Trust Company (UK)
                                                                 Limited                
                                                                                        
                                                                 The Bank of Bermuda    
                                                                 Limited                
                                                                                        
5. Date of the transaction and date on                                                  
which the threshold is crossed or                                03rd July 2012         
reached: v                                                                              
                                                                                        
6. Date on which issuer notified:                                06th July 2012         
                                                                                        
7. Threshold(s) that is/are crossed or                           Below 3%               
reached: vi, vii                                                                        
                                                                                        


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

Class/type of   Situation previous        Resulting situation after the triggering
shares           to the triggering                       transaction
                    transaction
 
if possible
using
the ISIN CODE
                 Number    Number     Number          Number of               % of
                   of        of     of shares          voting           voting rights x
                 Shares    Voting                      rights
                           Rights
                                      Direct    Direct xi   Indirect    Direct  Indirect
                                                               xii
 BMG5361W1047   5,344,696 5,344,696   Below       Below       Below    Below 3% Below 3%
                                    Disclosure Disclosure  Disclosure
                                    Threshold   Threshold   Threshold
 
B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial      Expiration   Exercise/                     Number of voting           % of voting
instrument             date xiii    Conversion Period xiv         rights that may be         rights
                                                                  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 rights  % of voting rights
financial        price       date xvii      Conversion      instrument refers to     xix, xx
instrument                                  period xviii
                                                                                     Nominal        Delta
 
Total (A+B+C)
Number of voting rights                              Percentage of voting rights

Below Disclosure Threshold                                    Below 3% 


9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
                                                                                        
                                                                                        
                                      N/A                                               
                                                                                        
                                                                                        
                                                                                        
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                                    N/A    
                                                                                        
11. Number of voting rights proxy holder will cease                              N/A    
to hold:                                                                                
                                                                                        
12. Date on which proxy holder will cease to hold                                N/A    
voting rights:                                                                          
                                                                                        
                                                                                        
                                                                                        
                                                                                        
13. Additional information:                                       None                  
                                                                                        
14. Contact name:                                                 Baljeet Gill          
                                                                                        
15. Contact telephone number:                                     0207 991 6555