Portfolio Update

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

All information is at 28 February 2011 and unaudited.

Performance at month end is calculated with income reinvested

                         One    Three       One     Three     *Since     Five     
                       Month   Months      Year     Years   31.03.06    Years    
Sterling:                                                                      
Net asset value        -0.4%    -4.7%     14.7%     36.5%     117.8%   116.8%   
Share price            -4.6%    -6.3%     11.8%     24.4%     110.4%   119.1%   
MSCI EM Latin America   0.4%    -0.8%     10.4%     33.5%     122.0%   118.9% 
US Dollars:                                                                    
Net asset value         1.1%    -0.5%     22.6%     11.6%     104.3%    101.4%   
MSCI EM Latin America   2.0%     3.7%     17.9%      9.1%     108.1%    103.3%   

Sources: BlackRock, Standard & Poor's Micropal
*Date which BlackRock took over the investment management of the Company.

At month end                                                                   
Net asset value - capital only:                                  723.66p       
Net asset value** - cum income:                                  737.19p       
Net asset value - capital only and with bond at fair value:      683.28p       
Net asset value** - cum income and with bond at fair value:      696.81p       
Net asset value** - cum income and with bond converted:          705.07p       
Share price:                                                     681.00p       
Total assets^:                                                  £371.87m       
Discount (share price to capital only NAV):                         5.9%       
Gearing~:                                                          12.2%       
Net yield:                                                          1.7%       
Ordinary shares in issue:                                     43,839,085       

**Includes 2 months net revenue equal to 1.85p plus the second interim dividend
in respect of the year
ended 31 December 2010 of 11.68p which went xd on 2 March 2011.
^Total assets include current year revenue.
~Gearing is calculated using debt at par, less cash and cash equivalents as a
percentage of gross assets.

Geographical Regional Exposure                                   % Total Assets
                                                                               
Brazil                                                                     71.8
Mexico                                                                     16.6
Chile                                                                       3.4
Peru                                                                        3.3
Colombia                                                                    1.4
Argentina                                                                   1.3
Panama                                                                      1.2
Net current assets                                                          1.0
                                                                          -----
Total                                                                     100.0
                                                                          -----


Ten Largest Equity Investments (in alphabetical order)

Company                                Country of Risk                         
                                                                               
AmBev                                  Brazil                                  
América Móvil                          Mexico                                  
Banco Bradesco                         Brazil                                  
Cyrela Brazil Realty                   Brazil                                  
Fomento Economico Mexicano             Mexico                                  
Grupo Televisa                         Mexico                                  
Itaú Unibanco                          Brazil                                  
OGX Petroleoegas                       Brazil                                  
Petrobrás                              Brazil                                  
Vale                                   Brazil                                  

Commenting on the markets, Will Landers, representing the investment
Manager noted;

Performance

For the month of February 2011, the Company posted a 0.4% drop in its NAV while
the shares fell by 4.6% (all in sterling terms). This trailed the 0.4% return
posted by the Company's benchmark, the MSCI EM Latin America Index.

The underperformance versus the benchmark during the month stemmed primarily
from stock selection in Brazil and Mexico. Individual names Petrobras,
Bradesco, Vale and Genomma were the largest individual negative contributors
for the month. The underperformance was partially offset by underweights in
Chile and Colombia. Positive contributions to performance for the month came
from OGX and Queiroz Galvao.

Transactions/Gearing

During the month, we added to oil & gas positions and beverages in Brazil. We
also introduced petrochemicals in Brazil and financials in Mexico. These moves
were funded by reducing exposure to Brazilian banks and industrials, Chilean
retailers and off-benchmark Argentina. Gearing finished the month at just over
12%.

Positioning

Despite the continued volatility in emerging markets as political unrest spread
across the Middle East and North Africa, we remain positive on the prospects
for Latin American equities in 2011. Our strategy did not change during the
month, as we continue to believe that Latin America's valuations and growth
prospects for the year remain attractive. We feel that Brazil is being
over-penalized by the market in this sell-off. Banks, consumers and
homebuilders have been some of the sectors most impacted by the recent market
volatility but remain a focus for us in Brazil. Mexico's attractiveness remains
challenged by its dependency on the US economy, where we expect improved
fundamentals but not an immediate return to fast growth. Even with its
underperformance so far this year, Chile remains expensive from a valuation
perspective, and we continue to find selective opportunities in other countries
in the region.

21 March 2011

ENDS

Latest information is available by typing www.blackrock.co.uk/its on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal). Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.