Fairfax Exercises Option to Acquire Additional BlackBerry Convertible Debentures

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") (TSX:FFH)(TSX:FFH.U) announces
that it has agreed to purchase, through its subsidiaries, an additional
$250,000,000 principal amount of 6% unsecured subordinated convertible
debentures of BlackBerry Limited ("BlackBerry") maturing on November 13, 2020
(the "Debentures"). 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. The additional Debentures will be purchased pursuant to the
exercise of an option to purchase those Debentures that was granted in
connection with BlackBerry's previously-announced private placement of $1
billion principal amount of Debentures. 


Under the terms of a subscription agreement with BlackBerry dated November 4,
2013, Fairfax agreed that until November 13, 2014 neither it nor its affiliates
(the "Fairfax group") would beneficially own more than 19.9% or less than 9.9%
of the outstanding Common Shares. The additional Debentures are being purchased
for investment purposes. Fairfax intends to sell Common Shares over time in
order to rebalance its ownership in BlackBerry, subject to the above-noted
restrictions.  


Assuming full conversion of the Debentures to be held by the Fairfax group, and
no other Debentures being converted, the Fairfax group would beneficially own
101,854,700 Common Shares or approximately 17.6% of the total Common Shares
outstanding (including upon such conversion) as of November 30, 2013 (or
approximately 15.6% if all other Debentures are converted). 


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
[phone]