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CQS RIG Finance Fund LTD (RIG)

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Wednesday 15 October, 2008

CQS RIG Finance Fund LTD

Holding(s) in Company


TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

CQS Rig Finance Fund Ltd

2. Reason for the notification                                  State          
                                                                Yes/No         
                                                                               
An acquisition or disposal of voting rights                      Yes           
                                                                               
An acquisition or disposal of financial instruments               NO           
which may result in the                                                        
acquisition of shares already issued to which voting                           
rights are attached                                                            
                                                                               
An event changing the breakdown of voting rights                  NO           
                                                                               
Other (please specify): Incorrect data feed from data             No           
provider                                                                       

3. Full name of person(s) subject to the notification     Midas Capital Plc    
obligation (iii):                                                              
                                                                               
4. Full name of shareholder(s) (if different from 3.)   (see section 9 below)  
(iv):                                                                          
                                                                               
5. Date of the transaction (and date on which the              09/10/08        
threshold is crossed                                                           
or reached if different) (v):                                                  
                                                                               
6. Date on which issuer notified:                              13/10/08        
                                                                               
7. Threshold(s) that is/are crossed or reached:                  22%           
                                                                               
8. Notified details:                                             N/A           

A: Voting rights attached to shares

Class/type of  Situation previous to    Resulting situation after the triggering   
    shares        the Triggering                   transaction (vii)               
 if possible     transaction (vi)                                                  
using the ISIN                                                                     
     CODE                                                                          
                                                                                   
  Redeemable     Number     Number     Number    Number of voting     % of voting  
Participating      of         of         of         rights (ix)         rights     
  preference     Shares     Voting     shares                                      
                            Rights                                                 
                            (viii)                                                 
                                                                                   
   Ordinary                            Direct     Direct   Indirect Direct Indirect
    Shares                                         (x)       (xi)                  
                                                                                   
 GG00B1GVK032  22,288,190 22,288,190 20,768,190 20,768,190   N/A    21.32    N/A   

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

   Type of     Expiration       Exercise/        Number of voting       % of   
  financial    date (xiii)      Conversion      rights that may be     voting  
 instrument                 Period/ Date (xiv)    acquired if the      rights  
                                                    instrument                 
                                                   is exercised/               
                                                     converted                 
                                                                               
     N/A           N/A             N/A                  N/A             N/A    

Total (A+B)                                                                    
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
20,768,190                              21.32%                                 

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable (xv):

CF Midas Balanced Growth Fund 4,404,170                                        
                                                                               
(Registered: Bank of New York Nominees A/C 392512)                             
                                                                               
CF Midas Balanced Income Fund 5,544,600                                        
                                                                               
(Registered: Bank of New York Nominees A/C 392513)                             
                                                                               
Midas Income & Growth Trust 1,429,280                                          
                                                                               
(Registered: State Street Nominees Ltd)                                        
                                                                               
CF Miton Global Portfolio 3,000,000                                            
                                                                               
(Registered: Bank of New York Nominees A/C 392211)                             
                                                                               
CF Miton Arcturus Fund 1,034,460                                               
                                                                               
(Registered: Bank of New York Nominees A/C 392449)                             
                                                                               
CF Miton Cautious Income Portfolio 1,000,000                                   
                                                                               
(Registered: Bank of New York Nominees A/C 392199)                             
                                                                               
CF iimia Growth Fund 405,000                                                   
                                                                               
(Registered: HSBC Global Custody Nominee (UK) Ltd A/C 949182)                  
                                                                               
Core Diversified Fund 2,722,300                                                
                                                                               
(Registered: Barfield Nominees Ltd A/C 23381)                                  
                                                                               
iimia Investment Trust 525,000                                                 
                                                                               
(Registered: Bank of New York Nominees Ltd A/C 178055)                         
                                                                               
Discretionary Clients 703,380                                                  
                                                                               
(Bank of New York Nominees A/C 156547 & Roy Nominees Ltd 570035)               

Proxy Voting:

10. Name of the proxy holder:                               N/A                
                                                                               
11. Number of voting rights proxy holder will cease to      N/A                
hold:                                                                          
                                                                               
12. Date on which proxy holder will cease to hold voting    N/A                
rights:                                                                        
                                                                               
13. Additional information:                                 iimia plc, Miton   
                                                            Asset Management   
                                                            Ltd and Midas      
                                                            Capital Partners   
                                                            Ltd are all        
                                                            subsidiaries of    
                                                            Midas Capital plc  
                                                                               
14. Contact name:                                           Helen Craig        
                                                                               
15. Contact telephone number:                               01392 475972       

Annex Notification of Major Interests In Shares (xvi)

A: Identity of the person or legal entity subject to the      Midas Capital plc
notification obligation                                                        
                                                                               
Full name (including legal form for legal entities)           Midas Capital plc
                                                                               
Contact address (registered office for legal entities)        23 Cathedral     
                                                              Yard, Exeter,    
                                                                               
                                                              EX1 1HB          
                                                                               
Phone number                                                  01392 475972     
                                                                               
Other useful information (at least legal representative for   N/A              
legal persons)                                                                 
                                                                               
B: Identity of the notifier, if applicable (xvii)                              
                                                                               
Full name                                                     Helen Craig      
                                                                               
Contact address                                               23 Cathedral     
                                                              Yard, Exeter,    
                                                                               
                                                              EX1 1HB          
                                                                               
Phone number                                                  01392 475972     
                                                                               
Other useful information (e.g. functional relationship with   N/A              
the person                                                                     
or legal entity subject to the notification obligation)                        

C: Additional information




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