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Gravesham MP Adam Holloway has insisted he will not be defecting to UKIP because it pushes voters into the arms of Labour.
Since Saturday's defection by Rochester and Strood MP Mark Reckless from Conservative to UKIP, rumours have been flying of who could be next to leave.
Mr Holloway's name is one of those floating around the national press after he voted against the government on backing airstrikes against Islamic State in Iraq.
Speaking today, Mr Holloway said: "I agree with most of what UKIP say - I want to have an independent Britain that's not under European control.
"But the problem is UKIP are going to take votes away and massively increase the risk of another Labour government which will trash the economy and we won't have a referendum on the EU.
"The good people who are voting for UKIP seem to want this. I care more about the country than I do about my seat and I really believe UKIP are risking delivering the county to Labour.
"I'm terrified of a Labour government."
During a walkabout in Rochester on Sunday afternoon, Nigel Farage hinted that another MP could make an announcement on Wednesday - the same day Prime Minister David Cameron makes his speech at the Conservative Party Conference in Birmingham.
Mr Reckless' defection was the second Conservative MP to leave after Douglas Carswell quit the Conservatives for UKIP, forcing a by-election in Clacton.
Meanwhile Dartford MP Gareth Johnson, who is at that conference, said: "I think what makes this so disappointing is that after Douglas Carswell left for UKIP, I spoke to Mark Reckless and he said he wouldn't do the same.
"He's lied to everyone. That's what makes this so hard to take. If he wants to debate the EU, the logical thing to do is stick with the Conservatives. We're the ones offering and in/out vote.
"I'm not aware of any other MP planning on doing the same but there are lots of rumours, as it is with politics.
"It's not the best start we've had to a conference but we are moving on and I firmly believe we can win the by-election and those people in Rochester and Strood who want to come out of the EU will be able to voice that if they vote Conservative."