Tender Offer

MERRILL LYNCH LATIN AMERICAN INVESTMENT TRUST PLC

DISCOUNT CONTROL MECHANISM

24 July 2007

Since 8 August 2006 (the date on which the Board last announced its intention
to implement a tender offer for up to 20 per cent of the issued share capital)
the NAV has increased from 323.56p per share to 515.60p, an increase of 192.04p
(61.3 per cent with net income reinvested). Over the same period the Company's
benchmark index, the MSCI EM Latin American Index, increased by 55.1 per cent.
Over that period the shares continued to trade within a tight discount range
and on occasions reached a small premium. The discount as at close of business
on 20 July 2007 was 3.1% per cent.

Against this background of strong investment and share price performance, and
having consulted its broker Cenkos Securities, the Board has concluded that it
will not on this occasion exercise its discretion to implement the tender offer
as at the end of September.

In line with its discount control policy, the Board continues to monitor
closely the share rating and will implement share repurchases in the market if
the discount to net asset value remains at a level above a discount of 2 per
cent to net asset value on a consistent basis, being the level at which the
tender offer price has been implemented in the past.

For further information, please contact:

Peter Burnell - 01434 632 292
Merrill Lynch Latin American Investment Trust PLC

Jonathan Ruck Keene - 020 7743 3000
BlackRock Investment Management (UK) Limited

Will Rogers - 020 7397 1920
Cenkos Securities plc