Portfolio Update

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

All information is at 31 March 2015 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^         -3.5%    -5.1%   -8.5%   -27.0%   -29.8%     43.5%
Share price              -2.1%    -5.2%   -8.4%   -31.1%   -33.5%     35.5%
MSCI EM Latin America    -3.7%    -4.9%  -10.9%   -29.3%   -29.7%     51.9%

US Dollars:               
Net asset value^         -7.3%    -9.7%  -18.5%   -32.1%   -31.2%     23.0%
Share price              -6.0%    -9.7%  -18.5%   -36.0%   -34.9%     16.0%
MSCI EM Latin America    -7.5%    -9.5%  -20.7%   -34.3%   -31.2%     30.0%

^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:                413.41p
Net asset value - cum income:                  416.42p
Share price:                                   369.50p
Total Assets#:                                 £164.7m
Discount (share price to cum income NAV):        11.3%
Average discount* over the month - cum income:   11.7%
Net cash at month end**:                          1.3%
Gearing range (as a % of net assets):            0-25%
Net yield##:                                      5.2%
Ordinary shares in issue***:                39,369,620
Ongoing charges****:                              1.2%
 
#Total assets include current year revenue.
## calculated using total dividends declared in the last 12 months as at the
date of this announcement as a percentage of month end share price.
*The discount is calculated using the cum income NAV (expressed in sterling
terms).
**Net cash/net 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.
**** Calculated as a percentage of average net assets and using expenses,
excluding performance fees and interest costs for the year ended 31 December
2014.

Geographic Exposure                                                        
                                                                           
                                            % of      % of                  
                                           Total    Equity    MSCI EM Latin
                                          Assets Portfolio*  American Index
                                                                           
Brazil                                      48.6      49.6             50.6
Mexico                                      39.0      39.7             32.5
Peru                                         7.0       7.1              2.9
Chile                                        2.1       2.1              9.6
Colombia                                     1.5       1.5              4.4
Net current assets (inc.Fixed interest)      1.8       0.0              0.0
                                           -----     -----            -----
Total                                      100.0     100.0            100.0
                                           -----     -----            -----

 *excluding net current assets & fixed interest                            

Sector                           % of Total Assets  % of Benchmark        
                   
Materials                                 13.8          13.6
Consumer Discretionary                     8.4           7.5
Consumer Staples                          22.8          20.6
Financials                                34.7          29.1
Health Care                                1.4           0.5
Industrials                                5.4           6.2
Information Technology                     1.8           2.2
Energy                                     3.8           6.9
Telecommunication Services                 4.2           7.7
Utilities                                  1.9           5.7
Fixed Income                               1.1           0.0
Net current assets                         0.7           0.0
                                         -----         -----
Total                                    100.0         100.0
                                         -----         -----
                                                                
Ten Largest Equity Investments (in percentage order) 
       
                                                                     % of
Company                               Country of Risk    Equity Portfolio   % of Benchmark

Itau Unibanco                                  Brazil                 8.3              5.4
Banco Bradesco                                 Brazil                 6.5              5.4
AmBev                                          Brazil                 5.6              4.8
FEMSA                                          Mexico                 5.3              3.2
Cemex SAB                                      Mexico                 5.0              2.1
BB Seguridade                                  Brazil                 4.5              1.3
America Movil                                  Mexico                 4.3              6.0   
Credicorp                                      Peru                   4.0              1.7   
BRF                                            Brazil                 3.8              2.3   
Wal-Mart de Mexico                             Mexico                 3.7              2.3   
                                                                                                
Commenting on the markets, Will Landers, representing the Investment
Manager noted;

Performance

For the month of March 2015, the Company's NAV fell by 3.5% and the share price
fell by 2.1%, while the Company's benchmark, the MSCI EM Latin America Free
Index, fell by 3.7%.(All performance figures are in sterling terms.)  

Positive contributions to performance stemmed primarily from stock selection in
and an overweight to Mexico.  In Mexico, Banorte benefitted from the improved
communications of the new management team with the market as well as the
gradual improvement in the Mexican economy.  The largest contribution to
performance came from not owning Vale which suffered from ongoing pressures in
iron ore prices.

A lower than index weighting to Chile weighed on relative performance.  Chile
has been one of the best performers year-to-date as copper has proven quite
resilient.  At the stock level, Itau Unibanco was the largest detractor
suffering as a result of concerns about the impact of the Petrobras
investigation on the banks.

Transactions/Gearing

During the month we reduced our overweight in Brazilian banks and our exposure
to consumer stocks given the macro headwinds in Brazil.  We initiated a
position in Weg, a high quality industrial that stands to benefit from a weaker
currency.  We used share price weakness in Southern Copper to add to our
position as copper has proven to be more resilient than most other
commodities. 

Net cash was approximately 1.3% at the end of March.

Positioning

Mexico continues to show signs of a gradual domestic recovery, which along with
the demand growth from the US and higher remittances from Mexican Americans to
Mexico should result in strengthening growth throughout 2015.  Peru also looks
poised to post faster growth given on-going infrastructure projects. Our
exposure to Brazil, while still the largest absolute position given the
market's size and depth, is below that of the index  given the significant
headwinds to its economy in the upcoming year stemming from the needed fiscal
adjustments, the Petrobras corruption investigation and increasing
unemployment.  Chile and Colombia are both dealing with the drop in commodity
prices as well as higher taxation, reducing those economies' ability to recover
from weak growth in 2014.

16 April 2015

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.