Statement re Proposed Issue of Convertible Bonds

Proposed issue of convertible bonds

The Board of BlackRock Latin American Investment Trust plc is considering
issuing up to $75 million of convertible bonds. The indicative terms are for
these bonds to be issued with a six year life with a 3.5 per cent. coupon
payable semi-annually. The conversion price will be based on the US dollar NAV
(including income) on the penultimate business day before the General Meeting
to approve the issue plus a 5 per cent. premium for conversions between the
issue date and the third anniversary of the issue date and plus a 15 per cent.
premium for conversions between the third anniversary and the maturity date for
the bonds. The proceeds of the bonds will be invested in accordance with the
investment objective and policy.

The issue of the bonds will be conditional on shareholder approval at a General
Meeting of Shareholders expected to be held in late August or early September.
Assuming such approval is obtained, the bonds will be issued shortly
thereafter.

The shares have traded at an average discount of 3.9 per cent. since the
announcement on 29 January 2009 of a tender offer for up to 7.5 per cent. of
the shares. Against this background, and given the current liquidity and rating
of the Shares and the proposed convertible bond issue, the Board has decided
not to implement the next tender offer which would otherwise have taken place
at the end of September.

A further announcement regarding the bond issue will be made in due course.

7 July 2009


For further information, please contact:


Will Rogers - 020 7397 1920
Charlie Ricketts - 020 7397 1910
Cenkos Securities plc

Jonathan Ruck Keene - 0207 743 3000
BlackRock Investment Management (UK) Limited