Interim Management Statement

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 March 2012

To the members of BlackRock Latin American Investment Trust plc.

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 January 2012 to
31 March 2012, and contains information that covers this period, and up to the
date of publication of this interim management statement

The Company's objective is to secure long term capital growth and an attractive
total return primarily through investing in quoted securities in Latin America.
The Company is managed by Will Landers of BlackRock Investment Management.

Stock Performance- Cumulative Performance (%):

                                         One    Three      One      Five
                                       Month   Months     Year     Years
                                                
Net Asset Value                        -4.0%    15.2%   -14.5%     36.1%
Net Asset Value (bonds at fair value)  -4.4%    13.0%   -12.5%     32.1%
Share Price                             0.4%    18.9%   -10.9%     34.4%
MSCI EM Latin America Index            -3.2%    14.7%    -8.1%     50.6%

All performance figures are in $ on a total return basis.

Ten Largest Equity Holdings at 31 March 2012

Company                  Country of Risk     % of   
                                           Company  
                                                    
Vale                          Brazil         9.7    
Itau Unibanco                 Brazil         8.1    
Petrobrás                     Brazil         7.9    
América Móvil                 Mexico         6.7    
Banco Bradesco                Brazil         5.5    
AmBev                         Brazil         4.6    
Fomento Economico Mexicano    Mexico         3.9    
Banco do Brasil               Brazil         2.6    
CCR                           Brazil         2.6    
OGX Petroleoegas              Brazil         2.3    

Financial position and performance as at 31 March 2012

Net asset value - capital only                 633.57p
Net asset value - cum income:                  636.45p
Net asset value - capital only and 
with bond at fair value:                       613.33p
Net asset value - cum income and
with bond at fair value:                       616.21p
Net asset value - capital with bond
converted:                                     621.23p
Net asset value - cum income and
with bond converted:                           623.53p
Share price:                                   607.00p
Total Assets:                                 £328.72m
Discount (share price to cum income 
NAV with bond converted**):                       2.7%
Average discount** over the month -              
cum income:                                       5.8%
Gearing^^:                                        7.9%
Net yield                                         3.1%
Ordinary shares in issue                    43,841,312

~Total assets include current year revenue.

^^Gearing is calculated using debt at par, less cash and cash equivalents and
fixed interest investments as a percentage of net assets.

**To the extent that the US dollar Net Asset Value on a capital only with bond
at par basis exceeds the current conversion price of $8.98 for the convertible
bond, the discount is calculated using the share price as a percentage of the
fully diluted cum income Net Asset Value in sterling terms. Where the Net Asset
Value on a capital only with bond at par value basis does not exceed the
conversion price, the discount is calculated using the share price as a
percentage of the cum income Net Asset Value with bond at fair value.

Tender offer

It was announced on 13 January 2012 that the Board had decided to implement a
semi-annual tender offer in March 2012.

Following the semi-annual tender offer on 30 March 2012, 2,192,065 ordinary
shares were bought back and placed in treasury on 5 April 2012 at a price of
611.0594 pence per Ordinary Share.

Interim Dividend

A second interim dividend of 25 cents per share was declared on 7 March 2012,
payable on 20 April 2012 to shareholders on the register on 16 March 2012.

Payment of Bond Interest

The semi annual interest payment in respect of the US$79,948,000 3.5%
Convertible Bonds due 2015 was paid on 15 March 2012.

Annual Financial Report

The Company announced its annual financial results for the year ended 
31 December 2011 on 7 March 2012.

Purchase of the Company's ordinary shares

The Company announced on 2 May that it had purchased 75,000 ordinary shares at
a price of 552.50 pence per share which will be held in treasury.

Annual General Meeting

At the Company's Annual General Meeting held on 15th May 2012, all resolutions
were passed.

Directors' Acquisition of Shares

Since 31 December 2011, the following directors have purchased/sold the
following ordinary shares:

Dr Mahrukh Doctor - sale of 2 ordinary shares on 15 March 2012 (to fund the ISA
plan management charge) and purchase of 15 ordinary shares on 20 April 2012
(dividend reinvestment)

Desmond O'Conor - sale of 24 ordinary shares (to fund the ISA plan management
charge) on 15 March 2012 and purchase of 214 ordinary shares (dividend
reinvestment) on 20 April 2012.

Net Asset Value

The Company announces its NAV on a daily basis, which can be accessed via 
http: //www.brlaplc.co.uk, under the "News" tab.

The unaudited net asset value for BlackRock Latin American Investment Trust plc
at close of business on 11 May 2012 was:

558.61p per share (pence sterling) - Capital only with convertible bond at par

566.36p per share (pence sterling) - Cum income with convertible bond at par
value

545.82p per share (pence sterling) - Capital only with convertible bond at fair
value

553.57p per share (pence sterling) - Cum income with convertible bond at fair
value

558.51p per share (pence sterling) - Capital only fully diluted for full
conversion of bond

564.91p per share (pence sterling) - Cum income fully diluted for full
conversion of bond

Material Events and transactions

There were no other material events or transactions, except as disclosed,
during the three months to 31 March 2012, nor was the Company involved in any
other material transactions during the period except the purchase and sale of
securities undertaken in the normal course of its business.

The Board is not aware of any material events or transactions, except as
disclosed herein, occurring between 31 March 2012 and the date of publication
of this interim management statement which would have a material impact on the
financial position of the Company.

Contact details:
Barbara Powley
Company Secretary
Tel: [phone]
15 May 2012

ENDS

Please note that more detailed performance information is available on the
Investment Manager's website-www.brla.co.uk. Neither the contents of
the Investment Manager's website nor the contents of any website accessible
from hyperlinks on the Investment Manager's website (or any other website) is
incorporated into, or forms part of, this announcement.

Latest information is also available by typing "BLRKINDEX" on Reuters, "BLRK"
on Bloomberg or "8800" on Topic 3 (ICV terminal).