Transaction in Own Shares

Queen's Walk Investment Limited
27 July 2007


27 July 2007

                        Queen's Walk Investment Limited

                           Transaction in own shares


Queen's Walk Investment Limited announces that it has today purchased through
Citigroup Global Markets U.K. Equity Limited 34,000 ordinary shares at an
average price of €5.10 per share. The highest price and lowest price paid for
these shares were €5.10 and €5.10 respectively. The purchased shares will all be
cancelled.

Following the above purchase, the Company has a total of 40,418,631 ordinary
shares in issue. The number of ordinary shares purchased represented 0.08% of
the voting rights attributable to the total ordinary shares in issue prior to
such purchases.


For further information please contact:

Investor Relations:
Caroline Villiers [phone]


About the Company:

Queen's Walk Investment Limited is a Guernsey-incorporated investment company
listed on the London Stock Exchange. The Company invests primarily in a
diversified portfolio of subordinated tranches of asset backed securities,
including the unrated 'equity' or 'first loss' residual income positions
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 (UK) LLP, considers the coupon or cash flows 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.







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