Final Results

Morgan Grenfell Latin American Companies Trust PLC
26 April 2000

                                       
                      PRELIMINARY ANNOUNCEMENT OF RESULTS
                      FOR THE YEAR ENDED 29 FEBRUARY 2000
                                       
EXTRACT FROM THE CHAIRMAN'S STATEMENT

I am pleased to be able to report an excellent year for  your Company. Our net
asset value per share has risen 67.4%,and our share price by even more, 83.2%,
as the discount to net asset value has narrowed.  Our warrants meanwhile  have
more than doubled  in price, rising 105.8%. For the purposes of comparison the
MSCI Latin  American  Free  Index,  measured  in sterling, rose 72.9%, heavily
influenced by the two largest  markets, Brazil which  gained 110.6% and Mexico
70.6%. The other  markets  were more subdued, none other than Argentina rising
more than 50%. 

The income from  our investments is lower this  year as a result of a shift in
our portfolio towards higher growth shares which tend to pay lower  dividends.
We  are  recommending a final dividend of 0.20p per share, compared with 0.65p
per share paid last year.
                                                                       
                                                           J.W.R. Shakespeare
                                                                     Chairman

The  final  dividend of 0.20p per  share  will  be  paid on  4  July 2000  to 
shareholders on the register at the close of business on 9 June 2000.
       
The financial information set out overleaf does not  constitute the  Company's
statutory accounts  for  the  years  ended  29 February  2000  or  28 February
1999.  The  financial  information  for  1999  is  derived  from the statutory
accounts for 1999 which have been delivered to the Registrar of Companies. The
Auditors have reported on the 1999 accounts; their report was unqualified  and
did not contain a  statement  under section 237(2) or (3) of the Companies Act
1985. The statutory accounts for 2000,  which have not yet been reported on by
the Auditors, will  be  finalised  on  the basis of the financial  information
presented  by  the  Directors  in  this  preliminary  announcement and will be
delivered to the Registrar of Companies following the Company's Annual General
Meeting.
       
The  annual  report  will  be  sent  to shareholders  and  will  also  be made
available to the public at the Company's registered office.

ANNUAL GENERAL MEETING

The  Annual General Meeting will be held on Friday, 30 June 2000 at 11.45 a.m.
at Winchester House, 1 Great Winchester Street, London EC2.
       
By  order  of  the  Board                                  Registered Office:
P A Hogwood                                                One Appold Street
Secretary                                                  London EC2A 2UU
       
                                                           
For further information please contact:
       
Rosie Bichard at Deutsche Asset Management
Tel: [phone]
   


                                        Year to 29th         Year to 28th  
                                       February 2000        February 1999

Net Asset Value Per Ordinary 
Share                     Basic:           99.32p               59.34p        
                                                                
Statement of total return   
(incorporating the revenue                                                    
account*)
For the year ended 29th February                                              
                                             
                                 Revenue Capital Total Revenue  Capital  Total
                                 £'000   £'000   £'000 £'000    £'000    £'000
                                  1999    1999    1999  1998     1998     1998
                                                                              
Gains/(losses) on investments        -  24,387  24,387     - (22,418) (22,418)
                                            
Income                           1,209       -   1,209 1,823       -    1,823 
Investment management fee         (669)      -    (669) (545)      -     (545)
Other expenses                    (224)      -    (224) (289)      -     (289)
                                          
Return on ordinary activities              
before tax                         316  24,387  24,703   989 (22,418) (21,429)
Interest payable                    (4)      -      (4)    -       -        - 
                                         
Return on ordinary activities              
before tax                         312  24,387  24,699   989 (22,418) (21,429)
Tax on ordinary activities         (63)      -     (63) (315)      -     (315)
                                          
Return on ordinary activities                                                 
after tax for the financial 
year attributable to equity 
shareholders                       249  24,387  24,636   674 (22,418) (21,744)
Dividends in respect of 
equity shares                     (120)      -    (120) (411)      -     (411)

Transfer to reserves after                                                    
proposed dividend of 0.20p 
(1999 - 0.65p)                     129  24,387  24,516   263 (22,418) (22,155)
                                                                              
Return per ordinary share (p):                                                
Basic and diluted                 0.40   39.20   39.60  1.06  (35.07)  (34.01)
                                                                              
*The revenue column of this statement is the profit and loss account of the
company.
                                           
All revenue and capital items in the above statement derive from continuing
operations.
No operations were acquired or discontinued in the year.