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CQS RIG Finance Fund LTD (RIG)

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Wednesday 13 August, 2008

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, today announces its third interim dividend for the
financial year ending 30 September 2008.

Consistent with the targeted annualised gross dividend yield of 8% on the net
asset value per share at the start of the financial year, the Company announces
it has declared an interim dividend for the financial period from April 1, 2008
to June 30, 2008 of 1.98 pence for each Ordinary Share. The dividend will be
payable on September 15, 2008 to shareholders of record August 22, 2008. The
corresponding ex-dividend date will be August 20, 2008.

For further information please contact:

Secretary

Kleinwort Benson (Channel Islands) Fund Services Limited

01481 727111

Nominated Adviser

Arbuthnot Securities Limited

Alastair Moreton 020 7012 2138

Date: 13 August 2008

END