Interim Management Statement

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 30 September 2011

To the members of BlackRock Latin American Investment Trust plc.

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 July 2011 to 
30 September 2011, and contains information that covers this period, and up to the
date of publication of this interim management statement

The Company's objective is to secure long term capital growth primarily through
investing in quoted securities in Latin America. The Company is managed by Will
Landers of BlackRock Investment Management.

Stock Performance

Cumulative Performance(%):
                                         One      Three        One       Five
                                       Month     Months       Year      Years
                                                                             
Net Asset Value                       -20.8%     -29.3%     -27.4%      45.2%
Share Price                           -18.0%     -25.2%     -25.2%      46.1%
MSCI EM Latin America Index           -17.4%     -24.5%     -21.2%      56.2%

All performance figures are in Sterling on a total return basis.

Ten Largest Equity Investments (in percentage order)

Company                         Country of Risk        % of Company
                                                                   
Vale                                     Brazil                11.8
Itau Unibanco                            Brazil                10.0
Petrobrás                                Brazil                 7.7
América Móvil                            Mexico                 7.6
Banco Bradesco                           Brazil                 6.1
AmBev                                    Brazil                 5.3
Formento Economico Mexicano              Mexico                 3.4
OGX Petroleoegas                         Brazil                 2.4
Grupo Televisa                           Mexico                 2.3
Lojas Renner                             Brazil                 2.2

Financial position and performance as at 30 September 2011

Gross Assets (£m)                               286.70
Short term borrowings (£m)                         n/a
Convertible Bond                                  51.3
Net asset value-capital only                   523.82p
Net asset value-cum income                     537.87p
Net asset value-capital only with
bond at fair value                             508.20p
Net asset value-cum income with             
bond at fair value                             522.24p
Net asset value- capital only and
with bond converted                            523.82p
Net asset value- cum income and 
with bond converted                            537.87p
Share Price*                                   514.00p
Ordinary Shares in issue   
(excluding treasury shares)                 43,841,312
Actual Gearing**                                 18.1%
Premium (share price to capital
NAV with bond at fair value)                      1.1%
Average discount to NAV for 
3 months to 30 September 2011***                 -4.0%
                       
*1.5579 USD Exchange Rate used

**Gearing is calculated using debt at par, less cash and cash equivalents as a
percentage of net assets

***To the extent that the US dollar Net Asset Value on a capital only with bond
at fair value basis exceeds the current conversion price of $8.98 (£5.76 as at
30 September 2011) for the convertible bond, the discount is calculated using
the share price as a percentage of the fully diluted capital only Net Asset
Value in sterling terms. Where the Net Asset Value on a capital only with bond
at par value basis does not exceed the conversion price, the discount is
calculated using the share price as a percentage of the capital only Net Asset
Value with bond at fair value.

Tender offer

It was announced on 6 July 2011 that the Board had decided not to implement a
semi-annual tender offer in September 2011.

Interim Dividend

An interim dividend of 5.00 cents per share was declared on 9 August 2011,
payable on 23 September 2011 to shareholders on the register on 19 August 2011.

Payment of Bond Interest

The semi annual interest payment in respect of the US$80,000,000 3.5%
Convertible Bonds due 2015 was paid on 15 September 2011.

Half Yearly Financial Report

The Company announced its half yearly financial results for the period ended 30
June 2011 on 9 August 2011.

Net Asset Value

The Company announces its NAV on a daily basis, which can be accessed via 
http://www.brlaplc.co.uk, under the "News" tab.

The unaudited net asset value for BlackRock Latin American Investment Trust plc
at close of business on 4 November 2011 was:

590.85p per share (pence sterling) - Capital only with convertible bond at par
606.80p per share (pence sterling) - Cum income with convertible bond at par value
584.22p per share (pence sterling) - Capital only with convertible bond at fair value
600.16p per share (pence sterling) - Cum income with convertible bond at fair value
585.61p per share (pence sterling) – Capital only fully diluted for full conversion of bond
598.82p per share (pence sterling) – Cum income fully diluted for full conversion of bond

Directors' Acquisition of Shares

Since 30 June 2011, the following directors have purchased/sold the following
ordinary shares:

Laurence Whitehead - purchase of 2,930 ordinary shares on 10 August 2011

Dr Mahrukh Doctor - purchase of 571 ordinary shares on 16 August 2011 and 4
ordinary shares on 27 September (dividend reinvestment).

Desmond O'Conor - sale of 23 ordinary shares (to fund the ISA plan management
charge) on 15 September 2011 and purchase of 48 ordinary shares (dividend
reinvestment) on 27 September 2011.

Material Events and transactions

There were no other material events or transactions, except as disclosed,
during the three months to 30 September 2011, nor was the Company involved in
any other material transactions during the period except the purchase and sale
of securities undertaken in the normal course of its business.

The Board is not aware of any material events or transactions, except as
disclosed herein, occurring between 30 September 2011 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company.

Contact details:

Barbara Powley
Company Secretary
Tel: [phone]

8 November 2011

ENDS

Please note that more detailed performance information is available on the
Investment Manager's website-www.blackrock.co.uk/brla. Neither the contents of
the Investment Manager's website nor the contents of any website accessible
from hyperlinks on the Investment Manager's website (or any other website) is
incorporated into, or forms part of, this announcement.

Latest information is also available by typing "BLRKINDEX" on Reuters, "BLRK"
on Bloomberg or "8800" on Topic 3 (ICV terminal).