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 21 December 2011 was:

870.37c per share (US cents) - Capital only with convertible bond at par value
899.35c per share (US cents) - Cum income with convertible bond at par value
859.79c per share (US cents) - Capital only with convertible bond at fair value
888.77c per share (US cents) - Cum income with convertible bond at fair value
875.42c per share (US cents) - Capital only fully diluted for full conversion of bond
899.64c per share (US cents) - Cum income fully diluted for full conversion of bond
555.64p per share (pence sterling) Capital only with convertible bond at par value
574.15p per share (pence sterling) - Cum income with convertible bond at par value
548.89p per share (pence sterling) - Capital only with convertible bond at fair value
567.39p per share (pence sterling) - Cum income with convertible bond at fair value
558.87p per share (pence sterling) - Capital only fully diluted for full conversion of bond
574.33p 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).