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 Ltd
attached:ii                                                                             
                                                                                        
2. Reason for the notification (please tick the appropriate box or boxes):              
                                                                                        
    HOLDING PRIOR TO THE TRIGGERING TRANSACTION AMENDED                                 
                                                                                        
An acquisition or disposal of voting rights                                             
                                                                                        
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):            HOLDING PRIOR TO THE TRIGGERING TRANSACTION AMENDED x
                                                                                        
3. Full name of person(s) subject to the        Woodford Investment Management LLP (WIM)
notification obligation:iii                                                             
                                                                                        
4. Full name of shareholder(s)                                            Clients of WIM
 (if different from 3.):iv                                                              
                                                                                        
5. Date of the transaction and date on                                                  
which the threshold is crossed or                                                15.8.14
reached: v                                                                              
                                                                                        
6. Date on which issuer notified:                                                20.8.14
                                                                                        
7. Threshold(s) that is/are crossed or                                                5%
reached: vi, vii                                                                        
                                                                                        


8. Notified details:                                                                     
                                                                                         
A: Voting rights attached to shares viii, ix                                             
                                                                                         
Class/type   Situation previous            Resulting situation after the triggering      
of           to the triggering             transaction                                   
shares       transaction                                                                 
                                                                                         
             Number         Number         Number     Number of voting    % of  voting   
if possible  of             of             of shares  rights              rights x       
using        Shares         Voting                                                       
the ISIN                    Rights         Direct     Direct xi  Indirect Direct Indirect
CODE                                                             xii                     
                                                                                         
                                                                                         
                                                                                         
             9,652,281      9,652,281      10,482,682                                    
                                                      10,482,682      n/a  5.51%      n/a
BMG5361W1047                                                                             
                                                                                         
                                                                                         
                                                                                         
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      Expiration Exercise/      Number of voting      % of voting  
financial     price         date xvii  Conversion     rights instrument     rights xix,  
instrument                             period xviii   refers to             xx           
                                                                                         
                                                                                         
                                                                            Nominal Delta  
                                                                                         
                                                                                         
                                                                                         
                                                                                         
Total (A+B+C)                                                                            
                                                                                         
Number of voting rights                           Percentage of voting rights            
                                                                                         
10,482,682                                        5.51%                                  
                                                                                         



9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
Woodford Investment Management LLP as Investment Manager                                
                                                                                        
                                                                                        
                                                                                        
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:                                                               Jon Webb
                                                                                        
15. Contact telephone number:                                               01865 809023