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CQS Rig Finance Fund Ltd (RIG)

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Friday 09 September, 2011

CQS Rig Finance Fund Ltd

Dividend Declaration

                          CQS RIG FINANCE FUND LIMITED
                                (the "Company")

                               Proposed Dividends

Shareholders  approved the payment  of a final  dividend of 1 pence per ordinary
share  of no  par value  ("Share") in  respect of  the financial  year ended 30
September 2010, which was paid to shareholders on 11 May 2011.

The  recent  focus  of  the  Company  has  been  on  the  completion  of certain
restructuring  and workout situations and  the diversification of its investment
portfolio.  Since April, a significant portion of the Company's legacy portfolio
has  been realised including  investments in Remedial  Offshore, Rubicon, Marine
Subsea  and Petromena,  both from  sales and  amortisations, and the Company has
made  a number of new investments, such that a large proportion of its portfolio
is now invested in income generating assets.

As  a result, the Board of Directors today announces that the Company intends to
recommence  regular  cash  distributions  in  the  form  of semi-annual dividend
payments and will initially target dividends equivalent to an annual yield of 4
per cent of the Net asset Value per Share at the start of each financial year.

Based  on the opening NAV  per Share in October  2010 of 27.64 pence, a 4% yield
would  equate to  approximately 1.1 pence  for the  year to September 2011.  The
Directors  have today  declared an  interim dividend  of 0.55 pence per Share in
respect  of the  financial year  ended 30 September  2011 be paid  on 7 November
2011 to  holders on the register  at the close of  business on 14 October 2011.
 The Shares will go ex-dividend on 12 October 2011.

It  is expected that  the final dividend  will be paid  shortly after the Annual
General Meeting.


Hugh Field
Nominated Adviser
Arbuthnot Securities Limited
Telephone +44 (0) 20 7012 2118

Kleinwort Benson (Channel Islands) Fund Services Limited
Telephone +44 (0) 1481 727111

Date: 9 September 2011

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Source: CQS Rig Finance Fund Ltd via Thomson Reuters ONE