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CQS RIG Finance Fund LTD (RIG)

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Friday 26 January, 2007

CQS RIG Finance Fund LTD

Holding(s) in Company


                                  SCHEDULE 10                                  

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES                   

1. Name of company

CQS RIG FINANCE FUND LIMITED

2. Name of shareholder having a major interest

Baillie Gifford & Co

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18

Baillie Gifford & Co discretionary portfolio

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

Baillie Gifford & Co

5. Number of shares / amount of stock acquired

5,000,000

6. Percentage of issued class

10.00%

7. Number of shares / amount of stock disposed

N/A

8. Percentage of issued class

N/A

9. Class of security

Ordinary Shares

10. Date of transaction

19th January 2007

11. Date company informed

Communication received on 22nd January 2007

12. Total holding following this notification

5,000,000

13. Total percentage of voting rights following this notification

10.00%

14. Any additional information

N/A

15. Name of contact and telephone number for queries

Keith Le Page - 01481 727111

16. Name and signature of authorised company official responsible for making
this notification

Keith Le Page

For Kleinwort Benson (Channel Islands) Fund Services Limited

Secretary

Date of notification

26th January 2007