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CQS RIG Finance Fund LTD (RIG)

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Thursday 30 October, 2008

CQS RIG Finance Fund LTD

Statement re Suspension


For immediate release on 30 October 2008

 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO  
THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF 
                             SOUTH AFRICA OR JAPAN                             

                 CQS Rig Finance Fund Limited (the "Company")                  

Statement re Suspension

The Company announces that it has requested that trading in its shares on AIM
and the CISX be suspended with immediate effect pending clarification of the
Company's financial position. The Company is presently discussing its financing
position with its lender and, as announced on Friday 24 October, is seeking to
undertake a placing of new securities to provide stability and a more
appropriate capital structure. A further announcement will be made in due
course.

Enquiries:

Alastair Moreton

Arbuthnot Securities Limited

Telephone 020 7012 2000

Secretary

Kleinwort Benson (Channel Islands) Fund Services Limited

Telephone 01481 727111

This announcement is not an offer to sell or a solicitation of any offer to buy
any securities in the United States or in any other jurisdiction. Neither this
announcement nor any copy of it may be taken, transmitted or distributed,
directly or indirectly, into the United States, Canada, Australia, the Republic
of Ireland, the Republic of South Africa or Japan or to any national of such
jurisdictions. Neither this announcement nor any copy hereof may be distributed
in any other jurisdictions where its distribution may be restricted by law and
persons into whose possession this document comes should inform themselves
about, and observe, any such restrictions. Distribution of this announcement in
the United States, Canada, Australia, the Republic of Ireland, the Republic of
South Africa, Japan or any such other jurisdictions may constitute a violation
of the law of such jurisdictions.