Tender Offer

F&C Latin American Inv Trust PLC
17 March 2006

F&C Latin American Investment Trust plc-discount control mechanism and tender
offer

Introduction

Further to the announcement released on 16 March 2006, the Board has now
completed its review of the discount control mechanism and is pleased to
announce its new policy for this mechanism in the future.  In addition, the
Board has now agreed the terms of the conditional tender offer to be implemented
around the time of the Annual General Meeting on Monday 8th May 2006.

Tender offer

The Board has decided to implement a conditional tender offer for 24.99 per cent
of the Shares.  This tender offer will be conditional on the approval of the
continuation resolution at the Annual General Meeting on Monday 8th May 2006 and
the approval of the tender offer itself at an Extraordinary General Meeting
expected to be held immediately after the Annual General Meeting.  The price at
which Shares will be purchased will be the prevailing Net Asset Value per Share
as at the close of business on the tender offer calculation date in May 2006
subject to a discount of two per cent (to cover the possible costs of the tender
offer).  A circular relating to the tender offer is expected to accompany the
Annual Report and Accounts.

Future discount control policy

The Directors believe it is important to Shareholders that the Shares have real
liquidity and trade in a narrow range around their prevailing Net Asset Value.
The Board believes this is best achieved by a commitment to aggressive marketing
as well as regular tender offers and the active use of share buy-back powers.
The Board anticipates that the combination of effective marketing, a discount
protection mechanism provided by regular tender offers and the facility to buy
back Shares will result in the Shares consistently trading at or around NAV.
This will enable the Company to attract interest from long term investors.

Regular tender offers

Subject to certain limitations and the Directors exercising their discretion to
operate the tender offers, Shareholders may tender for purchase all or part of
their holdings of Shares for cash. The price at which Shares will be purchased
will be the prevailing Net Asset Value per Share as at the close of business on
the relevant tender offer calculation date, subject to a discount of two per
cent (to cover the possible costs of the tender offer).  It is the Directors
intention that each tender offer will be for a maximum of 20% per cent in
aggregate of the Shares in issue as at the relevant tender offer calculation
date and to implement such tenders approximately every six months.

Renewal of these regular tender authorities will be sought at each Annual
General Meeting.

Repurchase of Shares

The Directors will consider repurchasing Shares in the market if they believe it
to be in Shareholders' interests and as a means of correcting any imbalance
between supply of and demand for the Shares.

Any purchase of Shares by the Company will be in accordance with the Articles
and the Listing Rules of the UKLA in force at the time.  A  resolution will be
proposed at the Extraordinary General Meeting of the Company granting the
Directors authority to repurchase up to 14.99 per cent of the Company's initial
issued share capital.  Renewal of this buy-back authority will be sought at each
Annual General Meeting.

Purchases of Shares will only be made through the market at prices (after
allowing for costs) below the prevailing Net Asset Value per Share and otherwise
in accordance with guidelines established from time to time by the Board.



Enquiries:

Peter Burnell                               01434 632 292




Merrill Lynch Investment Managers Limited

Jonathan Ruck-Keene                         020 7743 2178



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