Re: Dividend Declaration

Queen's Walk Investment Limited
18 July 2006



                        Queen's Walk Investment Limited
                       ('Queen's Walk' or the 'Company')

                        Announcement of Interim Dividend
                       for the Quarter Ended 30 June 2006



Queen's Walk announces that it will declare an interim quarterly dividend for
the period ended 30 June 2006 on 31 July 2006, the date of the Company's Annual
General Meeting. (Copies of the notice of the Annual General Meeting were mailed
to shareholders on 5 July 2006 and are available from the Company.)


The Company's target dividend for the quarter ended 30 June 2006 is not less
than €0.26 per share. The dividend will be payable on 31 August 2006 to
shareholders of record on 11 August 2006.

The Company continues to evaluate and undertake primary target investments and
the Company's investment manager, Cheyne Capital Management Limited, believes
that the pipeline of investment opportunities for the Company remains robust.
The Company retains sufficient capital and financing flexibility to meet its
investment objective and policies in the medium term.


For further information please contact:

Investor Relations:                   Caroline Villiers [phone]

Cheyne Capital:                       Syd Hanna [phone]


About the Company:

Queen's Walk Investment Limited is a Guernsey-incorporated investment company
listed on the London Stock Exchange. The Company's investment objective is to
preserve capital and to provide stable returns to shareholders in the form of
quarterly dividends. To achieve this, Queen's Walk invests primarily in a
diversified portfolio of subordinated tranches of asset backed securities,
including the unrated 'equity' or 'first loss' residual income position
typically retained by the banks or other financial institutions which have
originated the loan assets that collateralise a securitisation transaction. The
Company makes such investments where its investment manager, Cheyne Capital
Management Limited, considers the coupon or cashflows from the investment to be
attractive relative to the credit exposure of the underlying asset collateral.
The Company believes that its investment focus provides equity investors with
exposure to a relatively new investment opportunity in this asset class.

                                     * * *

The content of this announcement includes statements that are, or may deemed to
be, 'forward-looking statements'. These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
'believes', 'estimates', 'anticipates', 'expects', 'intends', 'may', 'will' or
'should'. They include the statement regarding the target aggregate dividend. By
their nature, forward-looking statements involve risks and uncertainties and
readers are cautioned that any such forward-looking statements are not
guarantees of future performance. The Company's actual results and performance
may differ materially from the impression created by the forward-looking
statements. The Company undertakes no obligation to publicly update or revise
forward-looking statements, except as may be required by applicable law and
regulation (including the Listing Rules).

Any target dividends are based on certain assumptions as to future events which
may not prove to be realised. Due to the uncertainty surrounding these future
events, the targets are not intended to be and should not be regarded as profits
or earnings forecasts. There can be no assurance that these targets will be
achieved or that the Company will be able to pay dividends at the target levels
or at all. The payment of any target dividends is subject to the Company
generating sufficient profits or having sufficient retained earnings and there
can be no assurance that this will be the case. The Company may revise its
dividend policy from time to time.







                      This information is provided by RNS
            The company news service from the London Stock Exchange
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