Director Shareholding

Deutsche Latin American Cos Tst PLC
28 November 2003

RNS
London Stock Exchange Tower
Courier Delivery Entrance
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London
EC2


28 November 2003

Dear Sirs

We wish to inform you that we have been notified that Mr K J T Pakenham, a
director of the Company, did yesterday purchase for his own account 15,000 of
the Company's ordinary shares at a price of 65.5p per share.

Yours faithfully


M Pope

Company Secretary


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