Lancashire Holdings Limited Announces Exercise of Warrants and Issue of Equity

Hamilton, Bermuda: 9 March 2015 - Lancashire Holdings Limited (the “Company”) has applied for 8,229,320 new common shares of US$0.50 each in the Company (“New Shares”) to be admitted to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange plc. The New Shares were issued and allotted today pursuant to exercises of warrants to purchase the Company’s common shares at an exercise price of US$5.00. It is expected that admission will be effective and dealings will commence with effect from 11 March 2015.

Following the issue of the New Shares, the Company’s issued share capital consists of 200,341,918 common shares of US$0.50 each, of which 2,582,934 common shares are held in Treasury. Therefore, the total number of Common Shares in issue with voting rights (excluding shares held in Treasury) is 197,758,984.

The above figure of 197,758,984 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Rules and Transparency Rules.

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