Final Results

Deutsche Latin American Cos Tst PLC
19 April 2001


                  DEUTSCHE LATIN AMERICAN COMPANIES TRUST PLC
                                       
                      PRELIMINARY ANNOUNCEMENT OF RESULTS
                      FOR THE YEAR ENDED 28 FEBRUARY 2001
                                       
EXTRACT FROM THE CHAIRMAN'S STATEMENT

In my first annual report as Chairman I have to record a drop in the net asset
value per share of your Company of  10.1% during the year to 28 February. This
was however after a rise of  67.4% in  the previous year. Our share price fell
rather less, by  6.8% as  the discount to net asset value continued to narrow.
For the purposes of comparison the MSCI Latin American Free Index, measured in
sterling, fell 9.8%.
       
Revenue available for shareholders has fallen by 12.4% when compared with  the
previous year. The  Board  is  proposing  an unchanged final dividend of 0.20p
per share. The  dividend  will be paid on 4 July 2001 to those shareholders on
the register  at the close of business on 8 June 2001.
                                                                        
                                                               Richard Watkins
                                                                      Chairman
       
The  final  dividend  of  0.20p  per  share  will  be  paid on  4 July 2001 to
shareholders on the register at the close of business  on 8 June 2001.
       
The financial  information set out overleaf does not  constitute the Company's
statutory accounts for the years ended 28 February  2001  or 29 February 2000.
The financial information for 2000  is derived from the statutory accounts for
2000 which have been delivered to the  Registrar  of Companies.  The  Auditors
have reported  on the 2000 accounts; their report was unqualified and did  not
contain a statement under section 237(2) or (3) of the Companies Act 1985. The
statutory  accounts  for  2001, which  have  not  yet  been reported on by the
Auditors, will  be finalised  on  the   basis  of  the  financial  information
presented  by  the  Directors in  this preliminary  announcement  and  will be
delivered  to  the  Registrar  of  Companies  following  the  Company's Annual
General Meeting.
       
The annual report will be sent to shareholders and will also be made available
to the public at the Company's registered office.

ANNUAL GENERAL MEETING

The Annual General Meeting will be held on Friday, 29 June 2001  at 11.45 a.m.
at Winchester House, 1 Great Winchester Street, London EC2.
       
By order of the Board                                      Registered Office:
M Pope                                                      One Appold Street
Secretary                                                   London EC2A 2UU
       
                                                            18 April 2001
For further information please contact:
       
Rosie Bichard at Deutsche Investment Trust Managers Limited Tel: [phone]
       
  

                         Year to 28 February 2001        Year 29 February 2000
Net Asset Value Per 
Ordinary Share    Basic:          89.27p                         99.32p       
                             
Statement of total return                                                     
(incorporating the revenue account*)
For the year ended 28th February                                              
                                     
                               Revenue Capital  Total  Revenue Capital   Total
                                 £'000   £'000  £'000    £'000   £'000   £'000
                                  2001    2001   2001     2000    2000    2000
                                                                              
(Losses)/gains on investments        -  (7,674)(7,674)       -  24,387 24,387 
                                   
Income                           1,478       -  1,478    1,209       -  1,209
Investment management fee         (509)      -   (509)    (669)      -   (669)
Other expenses                    (324)      -   (324)    (224)      -   (224)
                             
Return on ordinary activities   
before tax                         645  (7,674)(7,029)     316  24,387 24,703
Interest payable                  (298)      -   (298)      (4)      -     (4)
                             
Return on ordinary activities                 
before tax                         347  (7,674)(7,327)     312  24,387 24,699 
Tax on ordinary activities        (129)      -   (129)     (63)      -    (63)
                             
Return on ordinary activities 
after tax for the financial 
year attributable to                   
equity shareholders                218  (7,674)(7,456)     249  24,387 24,636 
Dividends in respect of equity     
shares                             (97)      -    (97)    (120)      -   (120)
 
Transfer to reserves 
after proposed dividend of 
0.20p (2000 - 0.20p)               121  (7,674)(7,553)     129  24,387 24,516 
                                                                
Return per ordinary share (p):                                                
Basic and diluted                 0.41  (14.46)(14.05)    0.40   39.20  39.60 
                            
*The revenue column of this statement is the profit and loss account of the
company.

All revenue and capital items in the above statement derive from continuing
operations.
No operations were acquired or discontinued in the year.