Net Asset Value(s)

NET ASSET VALUE

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

The unaudited net asset values for BlackRock Latin American Investment Trust
plc at close of business 20 December 2011 was:

877.87c per share (US cents) - Capital only with convertible bond at par value
906.63c per share (US cents) - Cum income with convertible bond at par value
867.29c per share (US cents) - Capital only with convertible bond at fair value
896.05c per share (US cents) - Cum income with convertible bond at fair value
881.65c per share (US cents) - Capital only fully diluted for full conversion of bond
905.68c per share (US cents) - Cum income fully diluted for full conversion of bond
559.38p per share (pence sterling) Capital only with convertible bond at par value
577.70p per share (pence sterling) - Cum income with convertible bond at par value
552.64p per share (pence sterling) - Capital only with convertible bond at fair value
570.96p per share (pence sterling) - Cum income with convertible bond at fair value
561.78p per share (pence sterling) - Capital only fully diluted for full conversion of bond
577.10p per share (pence sterling) - Cum income fully diluted for full conversion of bond

Notes:

1. Investments have been valued on a bid price basis.

2. The conversion price of the bonds is $8.98 until (but excluding) 15
September 2012 and $9.83 thereafter.

3. Revenue items included in net asset value, with dividends payable deducted
on the ex-dividend date.

4. The number of shares in issue is 43,841,312. There are no shares remaining
in treasury.

5. For the latest daily net asset value, previous month end performance
statistics, asset allocation and ten largest holdings of the BlackRock managed
Investment Trusts; see BLRKINDEX on Reuters or page 8800 on ICB (Topic 3).