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CQS Rig Finance Fund Ltd (RIG)

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Tuesday 06 July, 2010

CQS Rig Finance Fund Ltd

Notification of Major Interest in Shares







 For filings with the FSA include the
 annex

 For filings with issuer exclude the
 annex


+------------------------------------------------------------------------------+
|TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                |
+------------------------------------------------------------------------------+

+---------------------------------------------+--------------------------------+
|1. Identity of the issuer or the underlying  |                                |
|issuer                                       |        CQS RIG FINANCE         |
|of existing shares to which voting rights are|                                |
|attached:                                    |                                |
+---------------------------------------------+--------------------------------+
|2 Reason for the notification (please tick the appropriate box or boxes):     |
+----------------------------------------------------------------------+-------+
|An acquisition or disposal of voting rights                           |   X   |
+----------------------------------------------------------------------+-------+
|An acquisition or disposal of qualifying financial instruments which  |       |
|may result in the acquisition of shares already issued to which voting|       |
|rights are attached                                                   |       |
+----------------------------------------------------------------------+-------+
|An acquisition or disposal of instruments with similar economic effect|       |
|to qualifying financial instruments                                   |       |
+----------------------------------------------------------------------+-------+
|An event changing the breakdown of voting rights                      |       |
+----------------------------------------------------------------------+-------+
|Other (please specify):                                               |       |
+--------------------------------------+-------------------------------+-------+
|3. Full name of person(s) subject to  |                                       |
|the                                   |CREDIT SUISSE GROUP AG                 |
|notification obligation:              |                                       |
+--------------------------------------+---------------------------------------+
|4. Full name of shareholder(s)        |                                       |
|(if different from 3.):               |CREDIT SUISSE SECURITIES (EUROPE) LTD  |
|                                      |                                       |
+--------------------------------------+---------------------------------------+
|5. Date of the transaction and date on|                                       |
|which the threshold is crossed or     |02.07.2010                             |
|reached:                              |                                       |
+--------------------------------------+---------------------------------------+
|6. Date on which issuer notified:     |06.07.2010                             |
+--------------------------------------+---------------------------------------+
|7. Threshold(s) that is/are crossed or|7%                                     |
|reached:                              |                                       |
+--------------------------------------+---------------------------------------+

+------------------------------------------------------------------------------+
|8. Notified details:                                                          |
+------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                           |
+-------------+-----------------------+----------------------------------------+
|Class/type of|Situation previous     |Resulting situation after the triggering|
|shares       |to the triggering      |transaction                             |
|             |transaction            |                                        |
|if possible  +-----------+-----------+-------+----------------+---------------+
|using        |Number     |Number     |Number |Number of voting|% of  voting   |
|the ISIN CODE|of         |of         |of     |rights          |rights         |
|             |Shares     |Voting     |shares |                |               |
|             |           |R ghts     +-------+------+---------+------+--------+
|             |           |           |Direct |Direct|Indirect |Direct|Indirect|
+-------------+-----------+-----------+-------+------+---------+------+--------+
|ORD          |           |           |       |      |         |      |        |
|GG00B1GVK032 |6,000,000  |6,000,000  |N/A    |N/A   |7,250,000|N/A   |7.44%   |
+-------------+-----------+-----------+-------+------+---------+------+--------+

+------------------------------------------------------------------------------+
|B: Qualifying Financial Instruments                                           |
+------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                          |
+---------------+-----------+------------------+-----------------+-------------+
|Type of        |Expiration |Exercise/         |Number of voting |% of voting  |
|financial      |date       |Conversion Period |rights that may  |rights       |
|instrument     |           |                  |be               |             |
|               |           |                  |acquired if the  |             |
|               |           |                  |instrument is    |             |
|               |           |                  |exercised/       |             |
|               |           |                  |converted.       |             |
+---------------+-----------+------------------+-----------------+-------------+
|N/A            |           |                  |                 |             |
+---------------+-----------+------------------+-----------------+-------------+


+------------------------------------------------------------------------------+
|C: Financial Instruments with similar economic effect to Qualifying Financial |
|Instruments xv, xvi                                                           |
+------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                          |
+--------------+---------+-----------+---------------+----------+--------------+
|Type of       |Exercise |Expiration |Exercise/      |Number of |% of voting   |
|financial     |price    |date       |Conversion     |voting    |rights        |
|instrument    |         |           |period         |rights    |              |
|              |         |           |               |instrument|              |
|              |         |           |               |refers to |              |
|              |         |           |               |          |              |
+--------------+---------+-----------+---------------+----------+--------------+


+------------------------------------------------------------------------------+
|Total (A+B+C)                                                                 |
+--------------------------------------+---------------------------------------+
|Number of voting rights               |Percentage of voting rights            |
+--------------------------------------+---------------------------------------+
|              7,250,000               |                 7.44%                 |
+--------------------------------------+---------------------------------------+

+--------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or|
|the                                                                       |
|financial instruments are effectively held, if applicable:                |
+--------------------------------------------------------------------------+
| 1. Credit Suisse Group AG                                                |
| 2. Credit Suisse AG                                                      |
|     0. 2.1. Credit Suisse Securities (Europe) Ltd                        |
|     1.                                                                   |
|                                                                          |
|                                                                          |
+--------------------------------------------------------------------------+

+--------------------------------------------------------------------------+
|Proxy Voting:                                                             |
+-------------------------------------------------+------------------------+
|10. Name of the proxy holder:                    |                        |
+-------------------------------------------------+------------------------+
|11. Number of voting rights proxy holder will    |                        |
|cease                                            |                        |
|to hold:                                         |                        |
+-------------------------------------------------+------------------------+
|12. Date on which proxy holder will cease to hold|                        |
|voting rights:                                   |                        |
+-------------------------------------------------+------------------------+

+-----------------------------+--------------------------------------------+
|                             |                                            |
|13. Additional information:  |                                            |
+-----------------------------+--------------------------------------------+
|14. Contact name:            |Simon Crawley/Carolyn Collins               |
+-----------------------------+--------------------------------------------+
|15. Contact telephone number:|+44 (0) 20 7888 0241                        |
+-----------------------------+--------------------------------------------+

 Note: Annex should only be submitted to the FSA not the issuer

 Annex: Notification of major interests in shares


+------------------------------------------------------------------------------+
|A: Identity of the persons or legal entity subject to the notification        |
|obligation                                                                    |
+--------------------------------+---------------------------------------------+
|Full name                       |                                             |
|(including legal form of legal  |Credit Suisse Group AG                       |
|entities)                       |                                             |
|                                |                                             |
+--------------------------------+---------------------------------------------+
|Contact address                 |                                             |
|(registered office for legal    |Paradeplatz 8, 8070 Zurich, Switzerland      |
|entities)                       |                                             |
|                                |                                             |
+--------------------------------+---------------------------------------------+
|Phone number & email            |See below                                    |
|                                |                                             |
+--------------------------------+---------------------------------------------+
|Other useful information        |                                             |
|(at least legal representative  |See below                                    |
|for legal persons)              |                                             |
|                                |                                             |
+--------------------------------+---------------------------------------------+

+------------------------------------------------------------------------------+
|B: Identity of the notifier, if applicable                                    |
+--------------------------------+---------------------------------------------+
|Full name                       |Credit Suisse Securities (Europe) Ltd        |
|                                |                                             |
+--------------------------------+---------------------------------------------+
|Contact address                 |One Cabot Square, London E14 4QJ             |
|                                |                                             |
+--------------------------------+---------------------------------------------+
|Phone number & email            |020 7888 5416 simon.crawley@credit-suisse.com|
|                                |                                             |
+--------------------------------+---------------------------------------------+
|Other useful information        |                                             |
|(e.g. functional relationship   |                                             |
|with the person or legal entity |Simon Crawley                                |
|subject to the notification     |                                             |
|obligation)                     |                                             |
+--------------------------------+---------------------------------------------+

+------------------------------------------------------------------------------+
|C: Additional information                                                     |
+------------------------------------------------------------------------------+
|Our ref: 570255                                                               |
+------------------------------------------------------------------------------+
 For notes on how to complete form TR-1 please see the FSA website.




[HUG#1429900]








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