Tender Offer

F&C Latin American Inv Trust PLC
27 October 2004

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

27 October 2004

F&C LATIN AMERICAN INVESTMENT TRUST PLC (the 'Company')


Tender Offer proceeds

On 19 October 2004 the Company announced that, in accordance with the terms of
the Tender Offer as set out in the circular to Shareholders and Warrantholders
dated 27 August 2004, it would repurchase a total of 5,656,975 Ordinary Shares
from Shareholders who had validly tendered Ordinary Shares under the Tender
Offer at a price of US$3.0687 per Ordinary Share.

In accordance with the terms of the Tender Offer payments to Shareholders will
be made in sterling. The conversion rate will be US$1.8398 to £1 which will
result in a sterling Tender Price of £1.667953 per Ordinary Share.

Payments to Shareholders by cheque, in the case of certificated holders, or
payments through CREST, in the case of uncertficated holders, are expected to be
despatched as soon as practicable after 29 October 2004.


Cancellation of Share Premium Account

The Company further announces that on 27 October 2004 the High Court confirmed
the cancellation of the Company's share premium account pursuant to the
resolution passed at the Extraordinary General Meeting held on 20 September 2004
and that the cancellation is expected to become effective on 28 October 2004.

The number of Ordinary Shares in issue is not affected by the cancellation.

For further information, please contact:

UBS Investment Bank
Will Rogers               020 7568 2939


The Tender Offer is not being made, directly or indirectly, in or into or by the
use of mails or by any means or instrumentality (including, without limitation,
facsimile transmission, telex and telephone) of interstate or foreign commerce,
or any facility of a national securities exchange, of the United States, Canada,
Australia or Japan and the Tender Offer is not capable of being accepted by any
such use, means, instrumentality or facility or from within the United States,
Canada, Australia or Japan.

UBS Limited is acting for the Company in connection with the Tender Offer and no
one else and will not be responsible to anyone other than the Company for
providing the protections offered to clients of UBS Limited nor for providing
advice in relation to the Tender Offer.


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