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Cqs Rig Finance Fund Ltd (RIG)

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Wednesday 14 March, 2007

Cqs Rig Finance Fund Ltd

Statement re Gearing


                         CQS RIG FINANCE FUND LIMITED                          

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

Update on Gearing

The Company is pleased to announce that the Company's Investment Adviser has
been able to take advantage of the strong new issuance calendar in 2007 to
acquire qualifying investments for the Company such that the target gearing of
100% has been achieved earlier than originally anticipated.

Enquiries:

Secretary

Kleinwort Benson (Channel Islands) Fund Services Limited

Telephone (01481) 727111

Date: 13 March 2007