Fairfax Financial Holdings Limited: Fairfax Announces Conversion Rights of 5% Convertible Notes Due 2023

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TORONTO, ONTARIO (MARKET WIRE) Fairfax Financial Holdings Limited (TSX: FFH)(NYSE: FFH) announced today that, under the terms of the indenture (the "Indenture") governing its 5% convertible senior debentures due 2023 (the "Notes"), each holder of the Notes has the right to convert their Notes into Fairfax's subordinate voting shares during the first quarter of 2008. As of the last day of the fourth quarter of 2007, the sale price of Fairfax's subordinate voting shares had exceeded 120% of the conversion price of US$212.51 for at least 20 trading days during the 30 consecutive trading day period ending on the last day of

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