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 Global Asset      
                                                                 Management (UK) Limited
                                                                                        
                                                                 HSBC Global Asset      
                                                                 Management             
                                                                 (International) Limited
                                                                                        
4. Full name of shareholder(s)                                   The Bank of Bermuda    
 (if different from 3.):iv                                       Limited                
                                                                                        
                                                                 HSBC Bank plc          
                                                                                        
                                                                 HSBC Investment        
                                                                 Management             
                                                                                        
                                                                                        
                                                                                        
5. Date of the transaction and date on                                                  
which the threshold is crossed or                                21st May 2012          
reached: v                                                                              
                                                                                        
6. Date on which issuer notified:                                24th May 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   Situation previous              Resulting situation after the triggering transaction  
of           to the triggering                                                                     
shares       transaction                                                                           
                                                                                                   
             Number         Number           Number  Number of voting         % of  voting rights x
if possible  of             of               of      rights                                        
using        Shares         Voting           shares                                                
the ISIN                    Rights                                                                 
CODE                                         Direct  Direct xi  Indirect xii  Direct   Indirect    
                                                                                                   
BMG5361W1047   4,939,452       4,939,452        Below Disclosure Threshold      N/A      Below 3%  
                                                                                                   
                                                                                                   
                                                                                                   
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 date Exercise Number of voting rights     % of voting rights
financial     price         xvii            /        instrument refers to        xix, xx           
instrument                                  Conversion                                               
                                            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