Portfolio Update

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

All information is at 31 March 2010 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         7.7%    7.0%      113.3%       73.8%     104.6%   224.2%   
Share price             8.3%    4.5%      114.5%       70.9%     103.8%   293.1%   
MSCI EM Latin American  7.5%    8.2%       86.9%       85.8%     116.1%   300.6% 
                                                                              
US Dollars:                                                                    
Net asset value         7.4%    0.5%      125.7%       34.5%      78.9%   160.3%   
MSCI EM Latin American  7.1%    1.7%       97.8%       43.7%      89.0%   221.6% 
American                                                                       

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:                                       691.74p  
Net asset value** - cum income:                                       695.64p  
Net asset value - capital only and with bond at fair value:           663.81p  
Net asset value - cum income and with bond at fair value:             667.71p  
Net asset value - cum income and with bond converted:                 675.69p  
Share price:                                                          663.00p  
Total assets^:                                                       £357.05m  
Discount (share price to capital only NAV):                              4.2%  
Gearing~:                                                                8.4%  
Net yield:                                                               1.5%  
Ordinary shares in issue^^:                                        43,835,522  
                                                                               
**Includes 3 months net revenue equal to 3.90p.                                
^Total assets include current year revenue.                                    
^^Excluding 3,554,231 shares held in treasury.                                 
~Gearing is calculated using debt at par, less cash and cash equivalents as a  
percentage of gross assets.                                                    

Geographical Regional Exposure               % Total Assets
                                                                               
Brazil                                                 70.8
Mexico                                                 16.5
Chile                                                   2.5
Peru                                                    2.3
Argentina                                               1.4
Panama                                                  1.4
Net current assets (including Treasury bills)           5.1
                                                      -----
Total                                                 100.0
                                                      -----

Ten Largest Equity Investments(in alphabetical order)                          

Company                                Country of Risk                         
                                                                               
Ambév                                  Brazil                                  
América Móvil                          Mexico                                  
Banco Bradesco                         Brazil                                  
Cyrela Brazil Realty                   Brazil                                  
Formento Economico Mexicano            Mexico                                  
Grupo Televisa                         Mexico                                  
Itaú Unibanco                          Brazil                                  
Petrobrás                              Brazil                                  
Usiminas                               Brazil                                  
Vale                                   Brazil                                  

Commenting on the markets, Will Landers, representing the investment

Manager noted;

Performance

For the month of March 2010, the Company posted a 7.4% appreciation in its NAV
at fair value and 7.9% for its shares (all in US dollar terms, 7.7% and 8.3%,
respectively, in Sterling). During the same period, the Company's benchmark,
the MSCI EM Latin America Index, posted a 7.1% appreciation in US Dollar terms
(7.5% in Sterling).

The performance during the month was mostly in line with the benchmark. The
Company benefited from being geared as well as from the underweight position
relative to the benchmark in Chile and the overweight positions in countries
which are not included in the benchmark. This was offset by negative stock
selection in Brazil. The underweight position in steel names, especially CSN,
as well as the overweight in AmBev and Brazilian homebuilders, were the largest
detractors from performance, offset by overweight positions in Banco Itau,
steel maker Usiminas, and America Movil.

Transactions/Gearing

During the month, we reduced our overweight position in Brazil, taking profits
in airlines and insurance companies whilst reducing beverages and homebuilders;
some of these funds were redeployed in Brazilian pulp, industrials, steel and
telecommunications. We reduced the underweight position in Mexico, adding to
America Movil - we also added to airlines in Chile and Panama due to strong
profitability prospects for 2010, while reducing our exposure to Argentine oil
services and Mexican retail. Net gearing stood at close to 17% at the end of
the month, with 7% deployed in short-term Brazilian government bonds and cash.

Positioning

March proved to be a better performing month for the region, bringing
year-to-date performance back into positive territory. The Company continues to
be positioned with an overweight position in Brazil, with a major focus on
domestic sectors, especially homebuilders, but with an increased exposure to
steel and oil, and most recently, additions to the banks. Brazil's domestic
economy continues to rebound strongly, and we do not expect the upcoming
interest rate tightening cycle to result in a significant slow down, but rather
an adjustment to bring inflation expectations back to the 4.5% stated target.
Despite recent additions, Mexico continues to be an underweight as we struggle
to find attractive new investment ideas and find valuations in the country
unattractive at this stage. The same can be said of Chile and Colombia, while
in Peru we have added recently to positions in the mining sector.

Latest information is available by typing www.blackrock.co.uk/its on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal).

26 April 2010