Director Shareholding

Deutsche Latin American Cos Tst PLC
31 December 2003


RNS
London Stock Exchange Tower
Courier Delivery Entrance
Old Broad Street
London
EC2

31 December 2003


Dear Sirs

We wish to inform you that we have been notified that Mr R J H D Palmer, a
director of the Company, purchased 4,728 of the Company's ordinary shares on 28
August 2003 through the Company's savings scheme at a price of 63p per share.

Yours faithfully

M Pope
Company Secretary


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