Correction: March Portfolio Update

Correction to announcement released on 15 April 2011.  Performance figures and 
discount have changed.  


BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

All information is at 31 March 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           5.2%    -4.5%     12.1%     51.8%     129.2%    129.2%   
Share price               4.6%    -7.0%      8.0%     43.9%     120.2%    120.2%   
MSCI EM Latin America     5.1%    -1.4%      7.9%     45.1%     133.3%    133.3% 
US Dollars:                                                                    
Net asset value           3.7%    -2.2%     18.4%     22.4%     111.8%    111.8%   
MSCI EM Latin America     3.6%     0.9%     14.1%     17.0%     115.6%    115.6%   

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:                                  759.58p       
Net asset value** - cum income:                                  763.34p       
Net asset value - capital only and with bond at fair             718.66p       
value:                                                           718.66p                           
Net asset value** - cum income and with bond at fair       
value:                                                           722.43p                           
Net asset value** - cum income and with bond converted:          725.46p       
Share price:                                                     700.50p       
Total assets^:                                                  £384.06m       
Discount (share price to cum income with bond converted        
NAV):                                                               3.8%                       
Average discount over the month:                                    1.4%       
Gearing~:                                                          10.2%       
Net yield:                                                          1.6%       
Ordinary shares in issue:                                     43,841,312       

**Includes 3 months net revenue equal to 3.76p.
^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                                                                     73.5
Mexico                                                                     16.8
Chile                                                                       3.5
Peru                                                                        3.1
Panama                                                                      1.3
Colombia                                                                    1.1
Argentina                                                                   0.6
Net current assets                                                          0.1
                                                                          -----
Total                                                                     100.0
                                                                          -----


Ten Largest Equity Investments (in alphabetical order)

Company                                Country of Risk                         
                                                                               
AmBev                                  Brazil                                  
América Móvil                          Mexico                                  
Banco Bradesco                         Brazil                                  
CCR                                    Brazil                                  
Fomento Economico Mexicano             Mexico                                  
Grupo Televisa                         Mexico                                  
Itaú Unibanco                          Brazil                                  
OGX Petroleoegas                       Brazil                                  
Petrobrás                              Brazil                                  
Vale                                   Brazil                                  

Commenting on the markets, Will Landers, representing the investment

Manager noted;

Performance

For the month of March 2011, the Company posted a 5.2% gain in its NAV while
the shares appreciated by 4.6% (all in sterling terms). This edged ahead of the
5.1% return posted by the Company's benchmark, the MSCI EM Latin America Index.

The final dividend for the year ended 2010 declared during the month offset the
real underperformance versus the benchmark. The underperformance stemmed
primarily from stock selection in Chile and Mexico as well as an off-benchmark
position in Colombia via Pacific Rubiales. Other individual names that were the
largest individual negative contributors for the month included Totvs, Copa and
America Movil. The underperformance was partially offset by stock selection in
Brazil. Positive contributions to performance for the month came from Itau,
Hypermarcus, Localiza and Queiroz Galvao.

Transactions/Gearing

During the month, we added to consumer and petrochemical positions in Brazil,
Chilean banks and Mexican consumer names. These moves were funded by reducing
exposure to Brazilian industrials, utilities and wireless telcos, Chilean
retailers and off-benchmark Argentina.

Positioning

At the end of the quarter, the portfolio is positioned to benefit from a
recovery in risk appetite. Latin America's fundamentals, from both a macro and
micro perspective, rank among the most attractive in the world in our opinion
and we would expect to see the region rank among the best in the world in
periods of market recovery. Brazil remains our largest overweight with a
continued focus on domestic sectors representing most of the overweight. We
expect the Brazilian Central Bank to finish its current tightening cycle at its
next meeting in April which should help inflation revert to its target level in
2012. Valuations in Mexico are, for the most part, pricing in the ongoing
recovery in the United States, though we are concerned with some of the soft
macro numbers out of the US and their potential impact given the close
correlation between Mexico and the US. Other markets in the region have some
representation in the portfolio but suffer from a combination of higher
valuations and/or low liquidity.

9 May 2011

ENDS

Latest information is available by typing www.blackrock.co.uk/its on the
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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.