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 2012 were:

942.91c per share (US cents) - Capital only with convertible bond at par value
961.66c per share (US cents) - Cum income with convertible bond at par value
941.79c per share (US cents) - Capital only with convertible bond at fair value
960.54c per share (US cents) - Cum income with convertible bond at fair value
941.79c per share (US cents) - Capital only fully diluted for full conversion of bond
960.54c per share (US cents) - Cum income fully diluted for full conversion of bond
579.89p per share (pence sterling) Capital only with convertible bond at par value
591.42p per share (pence sterling) - Cum income with convertible bond at par value
579.20p per share (pence sterling) - Capital only with convertible bond at fair value
590.73p per share (pence sterling) - Cum income with convertible bond at fair value
579.20p per share (pence sterling) - Capital only fully diluted for full conversion of bond
590.73p 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 $9.83.

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

4. Following the buyback of US$15,948,000 of 3.5% convertible bonds on 12
December 2012 for cancellation, the Company has in issue 41,433,247 ordinary
shares, excluding 2,408,065 shares held in treasury and US$ 64,000,000 3.5%
convertible bonds.

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).