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Fairfax Announces Disposition of Its Interest in Cunningham Lindsey Group Limited

10/01/2012

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TORONTO, ONTARIO--(Marketwire - Oct. 1, 2012) -

(Note: All dollar amounts in this press release are expressed in U.S. dollars.)

Fairfax Financial Holdings Limited ("Fairfax") (TSX:FFH)(TSX:FFH.U) announces that Cunningham Lindsey Group Limited has entered into a merger agreement pursuant to which Fairfax will effectively sell its interest in Cunningham Lindsey for proceeds of approximately $260 million, subject to closing adjustments. Fairfax's interest in Cunningham Lindsey is currently recorded in its financial statements at $108.3 million. Fairfax will invest up to approximately $35 million of the proceeds in shares of Cunningham Lindsey on closing to continue to be a minority shareholder. The transaction is subject to normal closing conditions including regulatory approvals and is expected to close in the fourth quarter.

Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

Contact: John Varnell
Company Name: Fairfax Financial Holdings Limited
Contact Title: Vice President, Corporate Development
Phone: (416) 367-4941

Contact: Paul Rivett
Company Name: Fairfax Financial Holdings Limited
Contact Title: Vice President, Operations Phone: (416) 367-4941