Investor Conference Call

Lancashire Holdings Limited
17 November 2006


                          Lancashire Holdings Limited


Hamilton, Bermuda, 17 November 2006


                          LANCASHIRE HOLDINGS LIMITED

                       Trading Update and Conference Call

Lancashire Holdings Limited ('Lancashire') will be providing an update on
trading conditions on Wednesday 22 November 2006. Following the announcement,
Lancashire will be hosting an analyst and investor conference call at 15:30 UK
time / 10:30 EST on Wednesday 22 November 2006.

The conference call will be hosted by Richard Brindle, Chief Executive and Chief
Underwriting Officer, Simon Burton, Deputy Chief Underwriting Officer and Neil
McConachie, Chief Financial Officer.

The call can be accessed by dialing [phone] / [phone] and
entering the passcode 104981. A replay facility will be available for two weeks
until 6 December 2006. The dial in number for the replay facility is the same as
above.


Those wishing to register for the conference call are asked to contact Robert
Bailhache / Nick Henderson at Financial Dynamics on [phone] / +44 20
7269 7114 or at [e-mail] / [e-mail].


For further information, please contact:

Lancashire Holdings                         [phone]
Neil McConachie
Greg Lunn

Financial Dynamics                          [phone]
Robert Bailhache
Nick Henderson


About Lancashire


Lancashire, through its UK and Bermuda-based operating subsidiaries, is a global
provider of specialty insurance products. Its operating subsidiaries carry the
Lancashire group rating of A minus (Excellent) from A.M. Best with a stable
outlook. Lancashire has capital in excess of $1 billion dollars and its Common
Shares trade on AIM under the ticker symbol LRE. Lancashire is headquartered at
Mintflower Place, 8 Par-La-Ville Road, Hamilton HM 08, Bermuda. The mailing
address is Lancashire Holdings Limited, P.O. Box HM 2358, Hamilton HM HX,
Bermuda. For more information on Lancashire, visit the company's website at
www.lancashire.bm.



                   NOTE REGARDING FORWARD-LOOKING STATEMENTS


CERTAIN STATEMENTS MADE IN THIS ANNOUNCEMENT THAT ARE NOT BASED ON CURRENT OR
HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT LIMITATION,
STATEMENTS CONTAINING WORDS 'BELIEVES', 'ANTICIPATES', 'PLANS', 'PROJECTS',
'INTENDS', 'EXPECTS', 'ESTIMATES', 'PREDICTS', 'MAY', 'WILL', 'SEEKS', 'SHOULD'
OR, IN EACH CASE, THEIR NEGATIVE OR COMPARABLE TERMINOLOGY. ALL STATEMENTS OTHER
THAN STATEMENTS OF HISTORICAL FACTS INCLUDING, WITHOUT LIMITATION, THOSE
REGARDING THE GROUP'S FINANCIAL POSITION, RESULTS OF OPERATIONS, LIQUIDITY,
PROSPECTS, GROWTH, BUSINESS STRATEGY, PLANS AND OBJECTIVES OF MANAGEMENT FOR
FUTURE OPERATIONS (INCLUDING DEVELOPMENT PLANS AND OBJECTIVES RELATING TO THE
GROUP'S INSURANCE BUSINESS) ARE FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING
STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT
FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE
GROUP TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR
ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THESE
FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS ANNOUNCEMENT OR
OTHER INFORMATION CONCERNED. LANCASHIRE HOLDINGS LIMITED EXPRESSLY DISCLAIMS ANY
OBLIGATION OR UNDERTAKING (SAVE AS REQUIRED TO COMPLY WITH ANY LEGAL OR
REGULATORY OBLIGATIONS (INCLUDING THE AIM RULES)) TO DISSEMINATE ANY UPDATES OR
REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY
CHANGES IN THE GROUP'S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS,
CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED.






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