Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                         
                                                                                        
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer                                      
of existing shares to which voting rights are                Lancashire Holdings 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              x
qualifying financial instruments                                                        
                                                                                        
An event changing the breakdown of voting rights                                        
                                                                                        
Other (please specify):                           Correction of Shareholder Name        
                                                                                        
3. Full name of person(s) subject to the                                 Frank W. Cawood
notification obligation:iii                                                             
                                                                       Timothy W. Anders
                                                                                        
                                                         Frank W. Cawood IRA, Timothy W.
                                                    Anders 401K Account, Frank W. Cawood
                                                          & Associates, Inc., The Cawood
                                                       Foundation, Inc.  Gayle R. Cawood
                                                      IRA, Irrevocable Living Trusts (7)
                                                   FBO Nathan Paul Cruver, Joelle Rachel
                                                      Cruver, Andrew Reuben Cruver, Seth
4. Full name of shareholder(s)                          David Cruver, Natalie C. Cruver,
 (if different from 3.):iv                            Benjamin John Cawood, Joseph Louis
                                                     Cawood, The Cawood Family SO, Inc.,
                                                        Sandra Evans, Sandra Evans, IRA,
                                                       Miriam McFarland and Peter Sautov
                                                                                        
                                                                                        
                                                                                        
                                                                                        
                                                                                        
5. Date of the transaction and date on                                                  
which the threshold is crossed or                                               6/3/2011
reached: v                                                                              
                                                                                        
6. Date on which issuer notified:                                               6/3/2011
                                                                                        
7. Threshold(s) that is/are crossed or                                          Over 10%
reached: vi, vii                                                                        
                                                                                        


 

8. Notified details:                                                                      
                                                                                          
A: Voting rights attached to shares viii, ix                                              
                                                                                          
Class/   Situation previous            Resulting situation after the triggering           
type of  to the triggering             transaction                                        
shares   transaction                                                                      
                                                                                          
                                                                                          
if       Number           Number       Number    Number of voting    % of  voting rights x
possible of               of           of shares rights                                   
using    Shares           Voting                                                          
the ISIN                  Rights                                                          
CODE                                                        Indirect                      
                                       Direct    Direct xi  xii      Direct  Indirect     
                                                                                          
                                                                                          
                                                                                          
         1,412,019        1,412,019               1,412,019 598,628  0.907%  0.384%       
Common                                 1,412,019                                          
Share                                                                                     
                                                                                          
                                                                                          
                                                                                          
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 price Expiration  Exercise/  Number of voting      % of voting rights 
financial                 date xvii   Conversion rights instrument     xix, xx            
instrument                            period     refers to                                
                                      xviii                                               
                                                                                          
                                                                                          
                                                                       Nominal Delta      
                                      Until                                               
Warrant    5.00 USD       12/16/2015  Expiry     13,657,577                               
                                                                       8.770%             
                                                                                          
                                                                                          
                                                                                          
                                                                                          
Total (A+B+C)                                                                             
                                                                                          
Number of voting rights                        Percentage of voting rights                
                                                                                          
15,668,224                                     10.061%                                    
                                                                                          


 

9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
Frank W. Cawood controls the voting rights for the Frank W. Cawood IRA, Frank           
W. Cawood & Associates, Inc. and for The Cawood Foundation, Inc. Mr. Cawood may         
be deemed to have voting control for The Cawood Foundation, Inc. shares, but he         
disclaims any beneficial ownership.                                                     
                                                                                        
Timothy W. Anders controls the voting rights for Timothy W. Anders 401K Account         
and as the Trustee for Irrevocable Living Trusts (7) FBO Nathan Paul Cruver,            
Joelle Rachel Cruver, Andrew Reuben Cruver, Seth David Cruver, Natalie C.               
Cruver, Benjamin John Cawood and Joseph Louis Cawood.  Mr. Anders may be deemed         
to have voting control for Irrevocable Living Trust shares, but he disclaims            
any beneficial ownership.                                                               
                                                                                        
Gayle R. Cawood controls the voting rights for the Gayle R. Cawood IRA                  
Account.                                                                                
                                                                                        
   Sandra Evans controls the voting rights for the Sandra Evans IRA Account and         
                                                      the Sandra Evans Account.         
                                                                                        
Miriam McFarland controls the voting rights for the Miriam McFarland Account.           
                                                                                        
Peter Sautov controls the voting rights for the Peter Sautov Account                    
                                                                                        
                                                                                        
                                                                                        
                                                                                        
                                                                                        
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:            This information is to the best of our knowledge.
                                                                                        
14. Contact name:                                                      Timothy W. Anders
                                                                                        
15. Contact telephone number:                                               770-487-6307