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CQS RIG Finance Fund LTD (RIG)

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Monday 02 July, 2007

CQS RIG Finance Fund LTD

Change of Investment Adviser


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

Appointment of CQS Investment Management Limited as Investment Adviser

The Company is pleased to announce that, as contemplated in the Company's
Admission Document issued in December 2006, CQS Investment Management Limited
("CQSIML") has been appointed Investment Adviser to the Company. CQSIML has
received all necessary regulatory approvals and licences, including
authorisation by the UK Financial Services Authority, and will replace CQS (UK)
LLP as investment adviser.

CQSIML's appointment is effective from 1 July 2007.


[Secretary ]

Kleinwort Benson (Channel Islands) Fund Services Limited

Telephone (01481) 727111

NOMAD and Broker

Arbuthnot Securities Limited

Alastair Moreton

Telephone 020 7012 2138

Date: 2nd July 2007