Interim Results

Deutsche Latin American Cos Tst PLC
19 October 2000

                  DEUTSCHE LATIN AMERICAN COMPANIES TRUST PLC
                                       
                      PRELIMINARY ANNOUNCEMENT OF RESULTS
                    FOR THE HALF YEAR ENDED 31 AUGUST 2000
                                       
EXTRACT FROM THE CHAIRMAN'S STATEMENT
 
The six months since our February year-end have been positive for Latin
America overall, confirming the recovery underway in most of the region;
they  have  also  proved a period of good relative performance  for  the
Trust.  Although the MSCI Latin American Free Index rose  only  0.5%  in
sterling  terms there were major variations between markets. Brazil  was
the  best  performing  market,  up 8.8%, whereas  Mexico  was  flat  and
Argentina  fell 19.0%. Our diluted net asset value per share rose  ahead
of   the   index,  up  4.4%  to  103.8p  at  the  interim  stage.   This
outperformance was due largely to our overweight Brazil and  underweight
Argentina  stance  combined with good stock selection,  particularly  in
Brazil.  There  was also a significant boost to our net asset  value  of
2.8p per share, provided by our buyback programme, as we bought back our
shares at a discount to their net asset value.

Despite  this  strong performance, our share price declined  during  the
period, falling from 84.25p to 80.50p as the discount widened out beyond
22%  although  it  has subsequently narrowed to 13.2%, as  estimated  by
Datastream.  The  Board remains committed to do  everything  it  can  to
reduce  the  discount and is using its powers to buy  back  shares  when
appropriate.

Meanwhile  we  have  made a number of changes in the  structure  of  the
Company designed to respond to shareholders' concerns; these include the
introduction of a performance-related element to the manager's fee,  the
move  to an annual continuation vote, and most recently the introduction
of  an  element of gearing to the Company's capital structure.  We  have
arranged  a  committed line of credit of £15 million and  expect  to  be
using  this  shortly  both to take advantage of what  we consider to  be
attractive  buying  opportunities and  also to  continue  with our share 
buyback programme.  Shareholders  voted  at  the  Annual General Meeting 
in  June  to  continue  for another year as  an  investment trust and we 
realise  that  we  need  to  make every effort to take advantage of this 
structure.
                                                                        
                                                         Richard Watkins
                                                                Chairman

The financial information for the year ended 29 February 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  half-yearly report will be sent to shareholders and  will  also  be
made available to the public at the Company's registered office.


By   order   of  the  Board                            Registered Office:
P A Hogwood                                            One Appold Street
Joint Secretary                                        London EC2A 2UU

                                                       18 October 2000

For further information please contact:

Rosie Bichard at Deutsche Asset Management
Tel: [phone]



DEUTSCHE LATIN AMERICAN COMPANIES TRUST PLC
SIX MONTHS ENDED 31 AUGUST 2000
Preliminary announcement
                     31 August 2000      29 February 2000      31 August 1999
                                                                              
Net Asset Value per                                                     
Ordinary Share
Basic                    104.7p               99.3p                 72.3p
Fully Diluted            103.8p               99.4p                 77.1p     
          
Statement of Total Return (incorporating the revenue account*)
                                                                        
                  Six months to         Year to 29           Six months to
                  31 August 2000        February 2000        31 August 1999  
             Revenue Capital Total Revenue Capital Total Revenue Capital Total
             £'000   £'000   £'000 £'000   £'000   £'000 £'000   £'000   £'000
                                                                  
Gains on         
investments      -   1,030   1,030     -  24,387  24,387     -   7,837  7,837 
                                                                       
Income         721       -     721 1,209       -   1,209   639       -    639
Investment               
management 
fee           (348)      -    (348) (669)      -    (669) (317)      -   (317)
Other 
expenses      (165)      -    (165) (224)      -    (224)  (88)      -    (88)
                                    
Net return 
before  
finance 
costs and    
taxation       208   1,030   1,238   316  24,387  24,703   234   7,837  8,071 
Interest 
payable        (13)      -     (13)   (4)      -      (4)   (1)      -     (1)
                       
Return on 
ordinary       
activities 
before tax     195   1,030   1,225   312  24,387  24,699   233   7,837  8,070
Tax on 
ordinary 
activities     (69)      -     (69)  (63)      -     (63)  (36)      -    (36)
                                                                        
Return on 
ordinary                                                     
activities 
after tax 
for the
period 
attributable  
to equity                                       
shareholders   126  1,030   1,156    249  24,387  24,636   197   7,837  8,034
Dividend in 
respect of    
equity shares    -      -       -   (120)      -    (120)    -       -      - 
                                                                        
Transfer to           
reserves       126  1,030   1,156    129  24,387  24,516   197   7,837  8,034 
                                      
Return per 
ordinary                                                     
share:
Basic and 
Diluted     0.23p  1.85p   2.08p   0.40p  39.20p  39.60p  0.31p 12.50p  12.81p

*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 period.
                                                                        
The statement of total return is unaudited. The comparative figures in respect
of the year to 29th February 2000 are derived from the full accounts which
have been delivered to the Registrar of Companies and which contain an
unqualified audit report.