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CQS RIG Finance Fund LTD (RIG)

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Monday 24 November, 2008

CQS RIG Finance Fund LTD

Statement re Investment Adviser

                         CQS RIG FINANCE FUND LIMITED                          

(a closed-ended investment company incorporated in Guernsey)

CQS Rig Finance Fund Limited (the "Company") has been notified by its
investment adviser, CQS (UK) LLP, that Mark Conway, senior portfolio manager,
has today resigned.

The investment adviser has confirmed that it continues to have an appropriately
skilled and experienced team to manage the portfolio.

For further information, please contact:

Alastair Moreton

Director Corporate Finance

Arbuthnot Securities

020 7012 2000


Lynette Le Prevost


Kleinwort Benson (Channel Islands)

Fund Services Limited

01481 727111

Date: 24th November 2008