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CQS Rig Finance Fund Ltd (RIG)

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Wednesday 04 November, 2009

CQS Rig Finance Fund Ltd

Statement re Extension of Unsecured Facility Ag...





For immediate release on 4 November 2009

            CQS Rig Finance Fund Limited (the "Company")

       Statement re Extension of Unsecured Facility Agreement



The Company announces that on 23  October 2009 it extended, until  21
October 2010, the one year US$6 million unsecured facility agreement,
which was  originally  entered into  with  RBC Cees  Trustee  Limited
("RBC") on  23  October  2008 (the  "Facility")(as  announced  on  24
October 2008).

The Facility, which was provided by RBC in its capacity as trustee of
certain assets for the benefit of Michael Hintze, Chief Executive  of
CQS, who holds a  majority interest in CQS  Cayman LP, the  Company's
investment manager, was extended  on the same  terms as the  original
Facility. The Directors consider, having consulted with the Company's
Nominated Adviser, that the terms  of the extended Facility are  fair
and reasonable insofar as the Company's shareholders are concerned.

Enquiries:

Alastair Moreton
Arbuthnot Securities Limited
Nominated Adviser
Telephone 020 7012 2000

Secretary
Kleinwort Benson (Channel Islands) Fund Services Limited
Telephone 01481 727111

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