Tender Offer re Convertible Bonds

Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan

23 August 2013

BlackRock Latin American Investment Trust plc

Repurchase of convertible bonds

Repurchase of convertible bonds
The Board has decided to offer to repurchase by way of a tender offer all of
the outstanding US$64 million convertible bonds (Bonds). The tender offer 
price will be US$1,000 per Bond, being the existing nominal value of the Bonds,
less the costs of implementing the tender offer. The tender offer notice is
expected to be despatched to holders of the Bonds (Bondholders) on or around
30 August 2013. Bonds which are tendered are expected to be cancelled on Friday 
13 September 2013, being the business day prior to the next interest payment 
date of 15 September 2013. Interest will be paid on these Bonds up to (but
excluding) 15 September 2013 (or if not cancelled on 13 September 2013, up to
(but excluding) the date of cancellation of such Bonds). The payment of
interest in respect of the 6 monthly period up to (but excluding) 
15 September 2013 will be made separately from the repayment of the nominal 
value (less costs) of the Bonds.

Each of the Directors who holds Bonds currently intends to participate in the
tender offer in full.

In the event that Bonds with a value of less than US$20 million remain
outstanding after the tender offer has been completed (being less than 25% in
nominal value of the Bonds originally issued) the Company may, on giving not
less than 15 nor more than 45 days' notice in writing (Optional Conversion
Notice) to the Trustee and all Bondholders, convert, on the date (Optional
Conversion Date) specified in the Optional Conversion Notice, the whole (but
not part only) of the Bonds into ordinary shares at the conversion price
applicable on the Optional Conversion Date and in the event of such Optional
Conversion Notice being given as aforesaid the holding of Bonds of each
Bondholder shall, be automatically converted at the Conversion Price on the
Optional Conversion Date, provided that each Bondholder shall have the right,
by giving written notice to the Company within 15 days after the service of an
Optional Conversion Notice, to irrevocably require the Company, in lieu of
converting, to repay the whole or such part as he may in such notice specify of
his Bonds at its nominal amount on the Optional Conversion Date together with
interest accrued up to but excluding the Optional Conversion Date.

It is expected that the repurchase of the Bonds will be financed by a
combination of a disposal of the Company's fixed interest holdings, cash
currently held and utilisation of the Company's overdraft facility. In the
event that there is a shortfall in the funds required or the Investment Manager
believes that a lower level of gearing is appropriate, cash will be raised via
a disposal of equities. A further announcement regarding the Company's level of
gearing will be made once the tender offer has been completed.

Enquiries

BlackRock Investment Management (UK) Limited
Jonathan Ruck Keene/ Simon White           020 7743 3000

Cenkos Securities
Dion Di Micelli                            020 7397 1921
Will Rogers                                020 7397 1920