TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi1. Identity of the issuer or the underlying issuer Lancashire Holdings of existing shares to which voting rights are com USD 0.50 attached:ii2. 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 Woodford Investment notification obligation:iii Management LLP State Street as custodian for several St James's Place funds4. Full name of shareholder(s) (if different from 3.):iv Northern Trust as custodian for the CF Woodford Equity Income Fund5. Date of the transaction and date on which the threshold is crossed or 18th June 2014 reached: v6. Date on which issuer notified: 20th June 20147. Threshold(s) that is/are crossed or 3% reached: vi, vii8. Notified details:A: Voting rights attached to shares viii, ixClass/type Situation previous Resulting situation after the triggering transactionof to the triggeringshares transaction Number Number Number Number of voting % of voting rightsif possible of of of rights xusing Shares Voting sharesthe ISIN RightsCODE Direct Direct xi Indirect xii Direct IndirectBMG5361W1047Com USD 0.50 5,342,281 5,342,281 5,898,922 3.15%B: Qualifying Financial InstrumentsResulting situation after the triggering transactionType of Expiration Exercise/ Number of voting % of votingfinancial date xiii Conversion Period xiv rights that may be rightsinstrument acquired if the instrument is exercised/ converted.C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments xv, xviResulting situation after the triggering transactionType of Exercise price Expiration Exercise/ Number of voting rights % of votingfinancial date xvii Conversion instrument refers to rights xix, xxinstrument period xviii Nominal DeltaTotal (A+B+C)Number of voting rights Percentage of voting rights5,898,922 3.15%9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi Woodford Investment Management LLP is the investment manager for certain St James's Place funds and the CF Woodford Equity Income Fund, and as such is entitled to exercise the voting rights attached to the shares.Proxy Voting:10. Name of the proxy holder:11. Number of voting rights proxy holder will ceaseto hold:12. Date on which proxy holder will cease to holdvoting rights:13. Additional information:14. Contact name:15. Contact telephone number: