Update re Company's Situation

Deutsche Latin American Cos Tst PLC
06 October 2004





          Deutsche Latin American Companies Trust PLC ('the Company')

                       Update on the Company's Situation

Following the failure of the Company's continuation vote at its Annual General
Meeting on 9 August 2004, the Company has been reviewing various proposals for
its future. In the course of reviewing these proposals, the Board and its
advisers, Close Brothers Securities, have consulted with shareholders
representing a majority of the issued share capital to ascertain their views and
to receive an indication of any proposals they might support.

It is clear from these consultations that shareholders will support proposals
for the continuation of the Company, albeit with a different investment remit,
particularly if this produces improved marketability for the Company's shares
and is an improvement upon a voluntary liquidation of the Company. The Board
believes that specific proposals put forward by Aberdeen Asset Management and
its advisers, Intelli Corporate Finance, may achieve this objective.
Accordingly, the Board has agreed that Aberdeen Asset Management and Intelli
Corporate Finance should have a limited amount of time to develop their
proposals to a state where they are capable of implementation.

A further announcement will be made in due course and, if the proposals are
capable of implementation, it is expected that the future of the Company will be
finalised before the end of the year. If the proposals do not achieve the
conditions set, then the Company will proceed with a voluntary liquidation which
it would also expect to complete before the end of the year. The Company has
until February 2005 to put proposals to shareholders but would prefer to resolve
matters as soon as is reasonably practicable. In the meantime, the portfolio
continues to be managed in accordance with its existing remit.

Enquiries:

Richard Watkins

Chairman

020 7659 6955

Robin Archibald / James Moseley

Close Brothers Securities

020 7621 5564/3972

William Hemmings

Aberdeen Asset Management

020 7463 6223

Gordon Neilly / Darren Willis

Intelli Corporate Finance

020 7653 6300


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