Portfolio Update

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

All information is at 30 June 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        2.1%     -2.8%     22.9%     30.5%     122.9%    153.2%   
Share price            1.3%     -4.4%     11.2%     22.1%     110.6%    139.7%   
MSCI EM Latin America  2.2%     -2.6%     17.7%     27.5%     127.1%    149.9% 
US Dollars:                                                                    
Net asset value       -0.4%     -2.6%     31.8%      5.3%     106.3%    119.8%   
MSCI EM Latin America -0.3%     -2.5%     26.3%      2.8%     110.2%    116.9%   

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:                                  731.30p       
Net asset value** - cum income:                                  742.25p       
Net asset value - capital only and with bond at fair value:      691.66p       
Net asset value** - cum income and with bond at fair value:      702.61p       
Net asset value** - cum income and with bond converted:          711.68p       
Share price:                                                     670.00p       
Total assets^:                                                  £374.78m       
Discount (share price to cum income with bond converted (NAV):      5.9%       
Average discount over the month:                                    5.6%       
Gearing~:                                                          11.5%       
Net yield:                                                          2.2%       
Ordinary shares in issue:                                     43,841,312       

**Includes 6 months net revenue equal to 10.95p.
^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                                                              75.3
Mexico                                                              15.9
Chile                                                                3.9
Panama                                                               1.4
Colombia                                                             1.1
Peru                                                                 1.0
Argentina                                                            0.5
Net current assets                                                   0.9
                                                                   -----
Total                                                              100.0
                                                                   -----

Ten Largest Equity Investments (in alphabetical order)

Company                            Country of Risk             % of Company   
                                                                              
Vale                                        Brazil                     12.8   
Itaú Unibanco                               Brazil                     11.2   
Petrobrás                                   Brazil                     10.2   
América Móvil                               Mexico                      7.2   
Banco Bradesco                              Brazil                      5.9   
AmBev                                       Brazil                      4.2   
OGX Petroleoegas                            Brazil                      2.9   
Fomento Economico Mexicano                  Mexico                      2.6   
Grupo Televisa                              Mexico                      2.3   
Lojas Renner                                Brazil                      2.0   

Commenting on the markets, Will Landers, representing the investment

Manager noted;

Performance

For the month of June 2011, the Company's NAV increased by 2.1% while the share
price appreciated by 1.3% (all in sterling terms based on a cum income NAV with
debt at par). This slightly trailed the 2.2% 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. Individual names that were the largest negative
contributors for the month included Hypermarcas, America Movil and Quieroz
Galvao. The underperformance was partially offset by stock selection in Mexico
and Chile and an overweight position in Panama. Individual positive
contributions to performance for the month came from Petrobras, Copa Airlines,
E-Cl and PDG Realty.

Transactions/Gearing

During the month we increased the Company's exposure to oil & gas in Brazil via
Quieroz Galvao while we exited Mexican homebuilders. In addition, we reduced
portfolio exposure to Peru, Brazilian industrials, Mexican wireless telecom
giant America Movil and Brazilian homebuilder Cyrela.

Positioning

Despite the volatility and increased investor risk aversion seen so far this
year, the fundamentals remain strong and valuations attractive for the region.
Brazil's domestic demand story remains intact and we don't feel the current
interest rate tightening cycle will derail the strong domestic economy. The
portfolio continues to be positioned with an overweight to Brazil, with the
major focus still on more domestically oriented sectors such as banks,
retailers and homebuilders. Mexico continues to look expensive to us and
remains an underweight in the fund as we expect soft macro numbers out of the
US as well as security concerns and political gridlock to weigh on Mexico.
Valuations in Chile are also expensive and we continue to remain underweight in
this region. Due to concerns regarding the outcome of the recent Presidential
election in Peru, we also moved to an underweight position in this country
throughout the quarter. Overall, we remain confident that a recovery in the
performance of the Brazilian equity market should translate into positive
returns for Latin American equities during 2011.

22 July 2011

ENDS

Latest information is available by typing www.blackrock.co.uk/brla 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.