Final Results

ABERDEEN LATIN AMERICAN INVESTMENT TRUST PLC
2 September 1999



         ABERDEEN LATIN AMERICAN INVESTMENT TRUST PLC
     PRELIMINARY ANNOUNCEMENT OF UNAUDITED ANNUAL RESULTS
                for the year ended 30 June 1999

The Company's undiluted net asset value per Ordinary share at
30 June 1999 was 75.05p, which compares with a value of 76.95p
at 30 June 1998.  This represents a fall in the net asset
value of 2.5%, which compares with an increase of 7.3% in the
MSCI EMF Latin American index in sterling terms over the same
period.  Performance versus the benchmark has been
disappointing, with the portfolio having been hard hit by the
extreme volatility seen in Latin American markets in August
and September 1998 when emerging markets hit all time lows.
However, since the end of September 1998, the Trust has
outperformed the benchmark over nine months, six months and
three months to 30 June 1999. The mid-market prices of the
Company's Ordinary shares and Warrants as at 30 June 1999 were
58.25p and 13.25p respectively.

Latin America seems to be finally emerging from the
difficulties that have weighed on the developing markets over
the last two years.  The region's markets have been buffeted
by a series of setbacks beginning with the economic crisis in
Southeast Asia, the devaluation of the Russian rouble last
year, and culminating in the devaluation of the Brazilian real
in January of this year.  At the same time, persistent
weakness in commodity prices for most of the period put
additional pressure on the region's fiscal and external
accounts.  As investor worries mounted, interest rates rose to
extremely high levels throughout the region, causing economic
growth to slow dramatically over the last nine months.

The economic situation began to improve soon after the
Brazilian government decided to abandon its managed exchange
rate regime in January.  After a brief period of nervousness,
the newly floating real stabilised and interest rates, which
had been kept high in an effort to defend the currency, began
a downward trend.  This accelerated as evidence emerged that
the Brazilian economy was recovering from the crisis faster
than expected.  Most importantly, consumer prices have
remained under control and it now looks as though inflation
will only be around 8% in 1999, despite the devaluation.  The
economy has also begun showing signs of growth sooner than
expected, and now looks set for a sustained recovery.

The region's other major economy, Mexico, has improved
markedly during the first half of 1999.  The country has
benefited from the strength in the US economy, the sharp
recovery in oil prices, and declining interest rates that have
provided a boost to the domestic economy.  Argentina and Chile
have had a more difficult time this year.  Argentina was
perhaps the most affected by the economic slowdown and
devaluation in neighbouring Brazil, its largest trading
partner.  Like the rest of the region, the Chilean economy was
weighed down by high interest rates, but also suffered from a
fall off in global demand for copper, its largest export.
Recent statistics indicate that these economies have now
bottomed, and they should soon join the recovery that is
taking place in the rest of the region.

The outlook for Latin American equities for the next year
looks more favourable, although volatility is expected to
continue.  In the short term, the markets will be affected by
concerns about US interest rates, and by worries surrounding
the 'Y2K' issue.  In addition, with presidential elections in
Argentina and Mexico over the next year, the political
backdrop will be less predictable than in the past few years.
However, investors are aware of many of these concerns and,
with equity valuations again at very low levels, much of this
uncertainty has already been priced into the markets.  Most
importantly, the region's economies are now emerging from a
deep recession, and this should underpin a sustained long-term
recovery in the region's equity markets.


Bryan N. Lenygon
Chairman
2 September 1999


The unaudited results were:

Statement of total return (incorporating the revenue account*)
For the year ended 30 June 1999

                                      Year ended
                                     30 June 1999
                                     (unaudited)
                              Revenue     Capital     Total
                                £'000       £'000     £'000
                                                           
Loss on investments                 -        (258)     (258)
                                                           
Income                            426           -       426
Investment management fee         (37)       (110)     (147)
Other expenses                   (265)          -      (265)
Exchange losses                    (5)        (84)      (89)
                                 ----        ----      ----
Net return before finance                                  
costs and taxation                119        (452)     (333)
Interest payable and                                       
similar charges                   (13)        (13)      (26)
                                 ----        ----      ----
Return on ordinary                                         
activities before tax             106        (465)     (359)
Tax on ordinary activities        (44)         24       (20)
                                 ----        ----      ----
Return attributable to                                     
equity shareholders                62        (441)     (379)
Dividends in respect of                                    
equity shares nil (1998: nil)       -           -         -
                                 ----        ----      ----
Transfers to/(from) reserves       62        (441)     (379)
                                 ====        ====      ====
Return per Ordinary share                                  
(pence):
- Basic                          0.31       (2.20)    (1.89)
                                 ====        ====      ====                

                                      Year ended
                                     30 June 1998
                                      (audited)
                              Revenue     Capital     Total
                                £'000       £'000     £'000
                                                           
Losses on investments               -      (6,744)   (6,744)
                                                           
Income                            561           -       561
Investment management fee         (62)       (185)     (247)
Other expenses                   (314)          -      (314)
Exchange losses                    (2)        (24)      (26)
                                 ----       -----     -----
Net return before finance                                  
costs and taxation                183      (6,953)   (6,770)
Interest payable and                                       
similar charges                   (29)        (40)      (69)
                                 ----       -----     -----
Return on ordinary                                         
activities before tax             154      (6,993)   (6,839)
Tax on ordinary activities        (72)         45       (27)
                                 ----       -----     -----
Return attributable to                                     
equity shareholders                82      (6,948)   (6,866)
Dividends in respect of                                    
equity shares nil (1997: nil)       -           -         -
                                 ----       -----     -----
Transfers to/(from) reserves       82      (6,948)   (6,866)
                                 ====       =====     =====
Return per Ordinary share                                  
(pence):
- Basic                          0.41      (34.74)   (34.33)
                                 ====       =====     =====

* The Statements of total return presented above are in
accordance with the Statement of Recommended Practice for
Financial Statements of Investment Trust Companies


Balance Sheet of the Company as at 30 June 1999

                               30 June    30 June
                                  1999       1998
                            (unaudited)  (audited)
                                 £'000      £'000
Fixed assets                             
Investments                     14,716     16,006
                                         
Current assets                           
Debtors                            329        868
Cash                               154      1,171
                                ------     ------
                                   483      2,039
Creditors: amounts falling               
due within one year               (189)    (1,445)
                                ------     ------
Net current assets                 294        594
                                ------     ------
Total assets less current                
liabilities                     15,010     16,600
Creditors: amounts falling               
due after more than one year         -     (1,199)
Provisions for liabilities               
and charges                          -        (12)
                                ------     ------
Total net assets                15,010     15,389
                                ======     ======
Capital and reserves                     
Called-up share capital          5,000      5,000
Share premium account           11,642     11,642
Warrant reserve                  2,353      2,353
Other reserves                           
  Capital reserve - realised    (4,893)    (1,457)

  Capital reserve - unrealised     633     (2,362)
Revenue reserve                    275        213
                                ------     ------
Total equity shareholders'
funds                           15,010     15,389
                                ======     ======
Net asset value per Ordinary             
share (pence)
Basic                            75.05      76.95
                                ======     ======
Fully diluted                      n/a        n/a
                                ======     ======

Notes:
1  The  basic  revenue  return  per  share  is  based  on  the
   earnings  of  £62,000  (1998: £82,000)  and  on  20,000,000
   Ordinary shares of 25p each in issue for the period  (1998:
   20,000,000).
2  The  basic  capital return per share is  based  on  capital
   losses  of  £441,000 (1998: capital losses  of  £6,948,000)
   and  on 20,000,000 Ordinary shares of 25p each in issue for
   the period (1998: 20,000,000).
3  The   financial   information  set  out  above   does   not
   constitute the Company's statutory accounts for  the  years
   ended  30 June 1999 or 1998. The financial information  for
   1998  is derived from the statutory accounts for 1998 which
   have  been  delivered to the Registrar of  Companies.   The
   auditors  have reported on the 1998 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 1999 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.
4  Copies  of the Annual Report will be posted to shareholders
   in  late September and further copies may be obtained  from
   the  registered  office,  One  Bow  Churchyard,  Cheapside,
   London  EC4M 9HH.  The Annual General Meeting will be  held
   at  the  registered office of the Company  on  Thursday  21
   October 1999 at 12.30 p.m.

Aberdeen Asset Management PLC - Secretaries