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CQS RIG Finance Fund LTD (RIG)

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Monday 22 January, 2007

CQS RIG Finance Fund LTD

Capital Reorganisation


                         CQS RIG FINANCE FUND LIMITED                          

(a closed-ended investment company incorporated in Guernsey with registration
number 45805)

Capital Reduction

Pursuant to a Special Resolution dated 6 December 2006, the Company announces
its intention to apply to the Court in Guernsey on 16 February 2007 for
approval of a capital reduction, as previously notified in clause 2.3 of Part
III of the Prospectus.

Such capital reduction will be effected by way of cancelling the amount
standing to the credit of the share premium account of the Company and
crediting a like amount to a distributable reserve to be established in the
Company's books of account.

Notices of such capital reduction will appear in the Guernsey Gazette on 7 and
12 February 2007.

Enquiries:

Keith Le Page

Kleinwort Benson (Channel Islands) Fund Services Limited

Secretary

Telephone (01481) 727111

Date:22 January 2007