Preferences are derived in part from knowledge. Knowledge, however, may be defeasible. We present an argumentation framework for deriving qualitative, multi-attribute preferences and incorporate defeasible reasoning about knowledge. Intuitively, preferences based on defeasible conclusions are not as strong as preferences based on certain conclusions, since defeasible conclusions may turn out not to hold. This introduces risk when such knowledge is used in practical reasoning. Typically, a risk prone attitude will result in different preferences than a risk averse attitude. In this paper we introduce qualitative strategies for deriving risk sensitive preferences