Lancashire Holdings Limited Advises Exchanges Of Notifiable Interests

Hamilton, Bermuda: 01 February 2008 - Lancashire Holdings Limited ("Lancashire") was advised on 31 January 2008 that The Cawood Foundation, Inc., Frank W. Cawood & Associates, Inc. and certain other related private trusts, have increased their notifiable ownership interests in aggregate from 7,865,624 of Lancashire's common shares of US$0.50 par value each to 9,808,002 common shares representing approximately 5.38% of the total current issued share capital of Lancashire. 

In addition, following the completion of Lancashire's $100 million share repurchase programme and the subsequent cancellation of shares, as of 31 January 2008, Oaktree Capital Management L.P. was interested in aggregate in 6,050,000 of Lancashire's common shares of US$0.50 par value representing approximately 3.31% of the total current issued share capital of Lancashire. 

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About Lancashire

Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a global provider of specialty insurance products. Its insurance 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.lancashiregroup.com.