TR-1: Notifications of Major Interests in Shares 
1. Identity of the issuer or the underlying issuer of existing                  
shares to which voting rights are attached:                

                                                  Lancashire Holdings Limited   

2. Reason for notification (yes/no)                                             


An acquisition or disposal of voting rights                                     


An acquisition or disposal of financial instruments which may result in   No   
the acquisition of shares already issued to which voting rights are            


An event changing the breakdown of voting rights                                


Other (please specify):______________                                           

                                                William Blair & Company, LLC 

3. Full name of person(s) subject to notification obligation:                   


4. Full name of shareholder(s) (if different from 3):                           


5. Date of transaction (and date on which the threshold is    January 3, 2013  
crossed or reached if different):                                               

                                                              January 8, 2013  

6. Date on which issuer notified:                                               

                                                              Falling below 5% 

7. Threshold(s) that is/are crossed or reached:                                 
8: Notified Details                                                             
A: Voting rights attached to shares                                             


Class/type   Situation previous to Resulting situation after the triggering    
of shares    the triggering        transaction                                  
If possible                                                                    
use ISIN     Number of Number of   Number of Number of voting   Percentage of  
code         shares    voting      shares    rights             voting rights   

                                             Direct    Indirect Direct Indirect

BMG5361W1047 8,291,356 8,183,717   8,097,464 7,989,826          4.91%           


B: Financial Instruments                                                       

Resulting situation after the triggering transaction                            


Type of     Expiration Exercise/    No. of voting rights that may   Percentage 
financial   date       conversion   be acquired (if the instrument  of voting  
instrument             period/date  exercised/converted)            rights      
N/A         N/A        N/A          N/A                             N/A         
Total (A+B)                                         


Number of voting rights Percentage of voting rights 
7,989,826               4.91%                       
9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                      
William Blair & Company, L.L.C., (William Blair) is an investment adviser      
registered under the U.S. Investment Advisers Act of 1940.  As such, pursuant  
to advisory contracts, William Blair has the power to purchase and sell        
securities on behalf of its clients and the power to vote for most clients.    
Persons other than William Blair are entitled to receive all dividends from,   
and proceeds from the sale of all securities reported hereunder.                
 Proxy Voting:                                                                   


10. Name of proxy holder:                             William Blair & Company,  


11. Number of voting rights proxy holder will cease                            
to hold:                                              N/A                       


12. Date on which proxy holder will cease to hold                              
voting rights:                                        N/A                       


13. Additional information:                        


14 Contact name:            Walter R. Randall, Jr. 


15. Contact telephone name: +1 312 364 8720        
-0- Jan/08/2013 15:29 GMT
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