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CQS RIG Finance Fund LTD (RIG)

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Thursday 02 August, 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 April 1, 2007 to June 30, 2007 of 1.95 pence per each Ordinary
Share. The dividend will be payable on September 10, 2007 to shareholders of
record August 17, 2007. The corresponding ex-dividend date will be August 15,

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

01481 727111

Nominated Adviser

Arbuthnot Securities Limited

Alastair Moreton 020 7012 2138

Date: 2 August 2007