FFH.U Fairfax Financial Holdings Limited

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


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

Fairfax Financial Holdings Limited ("Fairfax" or the "Company")
(TSX:FFH)(TSX:FFH.U) announced today that it has acquired, through its
subsidiaries, ownership of $250,000,000 aggregate principal amount of 6%
unsecured subordinated convertible debentures maturing on November 13, 2020 (the
"Debentures") of BlackBerry Limited ("BlackBerry") representing 25% of
BlackBerry's private placement of an aggregate principal amount of $1 billion of
Debentures that closed today. The Debentures are convertible at the option of
the holder into common shares of BlackBerry ("Common Shares") at a price of
$10.00 per Common Share.


Assuming full conversion of the Debentures held by Fairfax's subsidiaries,
Fairfax would beneficially own 76,854,700 Common Shares representing, assuming
all other Debentures are converted, approximately 12.2% of the total Common
Shares outstanding or if no other Debentures are converted approximately 13.9%
of the total Common Shares outstanding, each as of October 24, 2013. The
Debentures were purchased for investment purposes. Fairfax continually reviews
its investment alternatives and may purchase additional securities or sell
securities of BlackBerry from time to time in accordance with applicable laws.


Fairfax has also been granted an option to arrange for the purchase of an
additional $250,000,000 principal amount of Debentures within 30 days of the
initial issuance of the Debentures. If Fairfax acquired all of the $250,000,000
principal amount of Debentures subject to the option, and assuming the full
conversion of all such Debentures, together with the Debentures acquired today
by Fairfax's subsidiaries and no other Debentures being converted, Fairfax would
beneficially own 101,854,700 Common Shares or approximately 17.6% of the total
Common Shares outstanding as of October 24, 2013 (or approximately 15.6% if all
other Debentures are converted). At this time, the decision of whether to
purchase all, or some, of these additional Debentures has not been made, nor has
it been determined whether Fairfax would be the only purchaser.


An early warning report will be filed by Fairfax in accordance with applicable
securities laws and will be available on SEDAR at www.sedar.com or directly from
Fairfax.


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


Fairfax's registered and head office is located at 95 Wellington Street West,
Suite 800, Toronto, Ontario M5J 2N7.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Fairfax Financial Holdings Limited
John Varnell
Vice President, Corporate Development
(416) 367-4941
(416) 367-4946 (FAX)

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