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CQS Rig Finance Fund Ltd (RIG)

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Tuesday 14 December, 2010

CQS Rig Finance Fund Ltd

Termination of Secured loan facility






For immediate release: 14th December 2010

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")

                      Termination of Secured loan facility


The  Company today announces  that following the  repayment of all cash borrowed
under  its secured  loan facility  ("Secured Facility")  to the  Company's Prime
Broker,  Credit Suisse Securities Europe Limited  ("CS"), the Company has agreed
with  CS to terminate the Senior Facility with effect Monday 13th December 2010
and  there was no penalty for early repayment.  The Company continues to operate
a  Prime Brokerage Agreement with CS that allows the Company to borrow in one or
more  currencies against assets  of the Company  including, securities and cash,
held  by  CS,  subject  to  collateral  level requirements and financing spreads
determined by CS from time to time.

For further information, please contact:

Hugh Field
Director, Corporate Finance
Arbuthnot Securities Limited
Telephone 020 7012 2000

Lynette Le Provost
Corporate Secretariat
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.







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(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
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     originality of the information contained therein. 
    
Source: CQS Rig Finance Fund Ltd via Thomson Reuters ONE

[HUG#1472467]