Portfolio Update

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

All information is at 30 April 2014 and unaudited.

Performance at month end with net income reinvested

                        One   Three    One  Three   Five  ^^Since
                      month  months   year  years  years 31.03.06
Sterling:
Net asset value^       1.9%   11.6% -18.6% -28.5%  41.0%    59.9%
Share price            6.0%   16.2% -15.6% -29.2%  37.9%    56.9%
MSCI EM Latin America  1.5%   10.9% -18.0% -23.2%  31.8%    73.1%

US Dollars:
Net asset value^       3.2%   14.8% -11.6% -27.5% 60.9%     55.9%
MSCI EM Latin America  2.8%   13.9% -11.0% -22.2% 50.2%     68.5%

^cum income
^^^Date which BlackRock took over the investment management of the Company.
Sources: BlackRock, Standard & Poor's Micropal

At month end
Net asset value - capital only:               475.86p
Net asset value - cum income:                 482.87p
Share price:                                  447.75p
Total Assets#:                                £190.1m
Discount(share price to cum income NAV):         7.3%
Average discount* over the month - cum income:   7.8%
Gearing at month end**:                          2.2%
Gearing range (as a % of net assets):           0-25%
Net yield##:                                     4.0%
Ordinary shares in issue***:               39,369,620

#Total assets include current year revenue.
## calculated using total dividends declared for the financial year ended 31
December 2013 as a percentage of month end share price.
*The discount is calculated using the cum income NAV (expressed in sterling
terms).
**Gearing is calculated using debt at par, less cash and cash equivalents and
fixed interest investments as a percentage of net assets.
***Excluding 2,071,662 shares held in treasury.

Geographic Regional Exposure                                           
                           % Total      % of Equity       MSCI EM Latin
                            Assets      Portfolio *      American Index
Brazil                        63.4             63.7                57.6
Mexico                        26.1             26.2                26.1
Peru                           5.8              5.9                 2.4
Chile                          2.6              2.6                 8.1
Colombia                       1.6              1.6                 5.8
Net current assets                          
(inc.Fixed interest)           0.5              0.0                 0.0                                        
                             -----            -----               -----
Total                        100.0            100.0               100.0
                             -----            -----               -----
                                                                       
*excluding net current assets & fixed interest                         

        Sector          % of Total 
                          Assets   
Materials                       8.4                                 
Consumer Goods                 16.0
Consumer Services              17.2
Financials                     32.8
Industrials                    12.1
Information Technology          0.2
Energy                          6.9
Telecommunication Services      2.3
Utilities                       3.6
Fixed Income                    0.3
Net current assets              0.2
Total                         100.0

Ten Largest Equity Investments (in percentage order)                     
                                                                 % of         
Company            Country of    % of equity portfolio      benchmark 
                   Risk                                             
                                                                        
Itau Unibanco      Brazil                          9.1            5.6
Petrobras          Brazil                          7.0            7.0
Vale               Brazil                          6.6            5.3
AmBev              Brazil                          5.2            4.6
Banco Bradesco     Brazil                          5.2            5.5
Grupo Televisa     Mexico                          4.1            2.3    
BB Seguridade      Brazil                          4.1            0.9    
CEMEX              Mexico                          3.9            2.2    
Creditcorp         Peru                            3.6            1.4
Walmart de Mexico  Mexico                          2.8            1.8

Commenting on the markets, Will Landers, representing the Investment
Manager noted;

Performance

For the month of April 2014, the Company's NAV increased by 1.9% and the share
price increased by 6.0% (all in sterling) while the Company's benchmark, the
MSCI EM Latin America Index, increased by 1.5%.

Positive contributions to performance stemmed primarily from stock selection in
Mexico. An overweight to Peru also contributed positively as Peru was the best
performing country for the month on the back of strong economic activity,
especially in the construction and mining industries. In Mexico, not owning
Grupo Mexico was the largest individual contributor. Elsewhere, individual
contributors included banking names Itau, Credicorp and Bradesco. Weighing on
performance was stock selection in Brazil, which was offset by an overweight to
the country. The largest individual detractors for the month included
overweights to Brazilian education name Kroton and not owning Banco Santander
or Cielo.

Transactions/Gearing

During the month we increased exposure to consumers by adding to Brasil Foods
and Walmart de Mexico. We also initiated a position in Grupo Aeroportuario del
Pacifico based on attractive valuations and growth prospects. This was funded
by reducing exposure to Mexican telecom America Movil due to regulatory
uncertainties. We exited Brazilian steel name Usiminas given a strong currency
in Brazil and continued weakness in steel prices globally. We also exited
Mexican infrastructure company Pinfra.

Net gearing was approximately 2.2% at the end of April.

Positioning

The portfolio is positioned with overweights to Brazil and Peru and
underweights to Chile and Colombia. The Brazilian position stands to benefit
from an improvement in global sentiment towards Emerging Markets, as well as
the increasing potential for an opposition win in the October presidential
elections. Peru remains our top pick in the Andean region due to superior
growth and attractive valuation levels. Mexico is a neutral weight and we have
begun to increase our exposure to Mexico given the ongoing approval of various
secondary laws related to last year's reforms, as well as our expectation of a
pick-up in economic activity during the second half of 2014. Chile and Colombia
continue to look unattractive on valuation grounds.

19 May 2014

ENDS

Latest information is available by typing www.blackrock.co.uk/brla on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal). Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.