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CQS RIG Finance Fund LTD (RIG)

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Thursday 03 May, 2007

CQS RIG Finance Fund LTD

Dividend Declaration

                         CQS RIG FINANCE FUND LIMITED                          

Dividend Declaration

CQS Rig Finance Fund Limited ("Company"), a closed-ended investment company
incorporated in Guernsey with registration number 45805, today announces its
maiden interim dividend.

The Company announces it has declared an interim dividend for the financial
period from December 18, 2006 to March 31, 2007 of 2.22 pence per each Ordinary
Share. The dividend will be payable on June 11, 2007 to shareholders of record
May 18, 2007. The corresponding ex-dividend date will be May 16, 2007.

Comments from the Company's Investment Adviser

CQS (UK) LLP, the Investment Adviser, is satisfied with the Company's
performance to date and that market opportunities have enabled the Company to
achieve its target gearing of 100% earlier than anticipated. The Investment
Adviser is also pleased that the Company has been able to declare a dividend
consistent with the targeted annualised gross dividend yield of 8% on the
initial net asset value per share following Admission.

For further information please contact:


Kleinwort Benson (Channel Islands) Fund Services Limited

Nigel Massey 01481 727111

Nominated Adviser

Arbuthnot Securities Limited

Alastair Moreton 020 7012 2138

Date: 3 May 2007