REG-CQS RIG Finance Fund LTD: Statement re Annual Report and Accounts

For immediate release on 29 April 2009

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")

Statement re Annual Report and Accounts

The Company has now concluded negotiations regarding its financing position
with its lenders. However the annual report and accounts for the year ended 30
September 2008 ("Annual Accounts") have not yet been finalised as required
under CISX Listing Rule 7.6.18.

The Company has therefore applied to the CISX for a further extension to the
date for filing of the Annual Accounts and the CISX has granted such an
extension to 31 May 2009.

Enquiries:

Alastair Moreton

Arbuthnot Securities Limited

Telephone 020 7012 2000

Secretary

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.

END