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CQS RIG Finance Fund LTD (RIG)

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Tuesday 27 February, 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

Further to its previous announcement dated 22 January 2007, and pursuant to a
Special Resolution dated 6 December 2006, the Company announces that the Royal
Court in Guernsey approved its application for a reduction in share capital on
16 February 2007.

Such capital reduction has been 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.

Enquiries:

Keith Le Page

Kleinwort Benson (Channel Islands) Fund Services Limited

Secretary

Telephone (01481) 727111

Date:27 February 2007