Preliminary Annual Results

Aberdeen Latin American Inv Tst PLC
29 August 2000


ABERDEEN LATIN AMERICAN INVESTMENT TRUST PLC
PRELIMINARY ANNOUNCEMENT OF UNAUDITED ANNUAL RESULTS
for the year ended 30 June 2000

CHAIRMAN'S STATEMENT

The Company's undiluted net asset value per Ordinary share at 30 June 2000 was
90.66p, which compares with a value of 75.05p at 30 June 1999.  This
represents an increase in the net asset value of 20.8%, which compares with an
increase of 18.8% in the MSCI EMF Latin American index over the same period. 
The mid-market prices of the Company's Ordinary shares and Warrants as at 30
June 2000 were 67p and 22.25p respectively.

The economic recovery in the Latin American region continued over the last
year, led by the region's two largest countries by population, Mexico and
Brazil.  However, the solid economic performance was not always directly
reflected in the performance of the region's markets, as external factors
dominated the tone for much of the year.  During the latter half of 1999, the
investment community seemed to be preoccupied with the changeover to the new
millennium, before a dramatic rise in technology stocks pulled the markets out
of the doldrums.  The rally reached dizzying heights before the spectre of
rising US interest rates in the spring of this year pulled global equity
markets back to earth.  Throughout the period, a recovery in commodity prices,
as well as a strong recovery in Southeast Asia, provided firm support for
Latin American equities.

Within the region, the economic and political fundamentals showed substantial
improvement.  The economic recovery that began last year has shifted into a
higher gear, as evidenced by the 7.9% GDP growth in Mexico during the first
quarter of this year and Brazil, who's growth rate of almost 4% in the second
quarter was particularly impressive given the country's devaluation last year.
 Growth continued apace throughout the region, with the exception of
Argentina, which continues to be bound by structural problems.  This year,
inflation will be in the single digits in all of the Latin America's major
countries for the first time in recent memory.  Notably, Mexico's inflation
rate finally dipped below 10% for the first time since the 'tequila crisis' of
1994-95.  This has allowed interest rates to trend steadily downward
throughout the period. There were no major imbalances in the region's external
accounts, and last year's problem, Brazil's large fiscal deficit, also
improved tremendously.  Particularly important is the fact that, with the
exception of Argentina, all of the Latin American currencies are now
free-floating, lessening the possibility of a major currency-related crisis.

The political maturity of Latin America also took a dramatic step forward with
the election of opposition candidate Vincente Fox to the Mexican presidency. 
The victory ended the ruling PRI party's 71-year stranglehold on the
presidency and, hopefully, ended its legacy of inefficiency and corruption. 
The incumbent president has proposed a very sound economic plan that should go
a long way toward liberalising the economy and extending the current period of
economic success.  Opposition candidates were also victorious in Argentina and
Chile, and expressly vowed to expand the free-market policies of their
predecessors.

Prospects look good for a strong year in Latin American equity markets,
despite the uncertainties that still persist in the global investment
environment.  The economic and political development over the past year, which
can roughly be interpreted as a country's ability and willingness to repay its
debts, has set the stage for further declines in interest rates.  This fact
has not escaped the major rating agencies, as demonstrated by the recent
upgrades of Mexico and Brazil.  In the case of Mexico, Moody's rating agency
upgraded the country's sovereign debt to investment grade earlier this year,
and it looks as though Standard and Poor's will follow shortly.  Equity
valuations remain at very reasonable levels and corporate profit growth should
be impressive given the economic growth in the region.  At this time of high
valuations and slowing growth in the developed markets, diversification into
what has long been an out of favour sector again looks a sensible option.
                                          
Bryan N. Lenygon
Chairman
29 August 2000        
 
The unaudited results were:

Statement of total return (incorporating the revenue account*)
For the year ended 30 June 2000

                                                      Year ended
                                                     30 June 2000 
                                                      (unaudited)
                                             Revenue    Capital      Total
                                               £'000      £'000      £'000

Gains on investments                               -      3,276      3,276
                     
Income                                           324          -        324
Investment management fee                        (47)      (142)      (189)
Other expenses                                  (252)         -       (252)
Exchange gains/(losses)                            4        (16)       (12)
                                              ______     ______     ______
Net return before finance costs and taxation      29      3,118      3,147
Interest payable and similar charges              (4)         -         (4)
                                              ______     ______     ______
Return on ordinary activities before tax          25      3,118      3,143
Tax on ordinary activities                       (48)        27        (21)
                                              ______     ______     ______
(Loss)/return attributable
to equity shareholders                           (23)     3,145      3,122
                                              ______     ______     ______
Transfer (from)/to reserves                      (23)     3,145      3,122
                                              ======     ======     ======
Return per Ordinary share (pence):   
  - Basic                                      (0.12)     15.73      15.61
                                              ======     ======     ======
       

The audited results were:

Statement of total return (incorporating the revenue account*)
For the year ended 30 June 1999

                                                      Year ended
                                                     30 June 1999
                                                       (audited)
                                             Revenue    Capital      Total
                                               £'000      £'000      £'000
                     
Losses on investments                              -       (258)      (258)
                     
Income                                           426          -        426
Investment management fee                        (37)      (110)      (147)
Other expenses                                  (265)         -       (265)
Exchange losses                                   (5)       (84)       (89)
                                              ______     ______     ______
Net return/(loss) before
finance costs and taxation                       119       (452)      (333)
Interest payable and similar charges             (13)       (13)       (26)
                                              ______     ______     ______
Return/(loss) on ordinary
activities before tax                            106       (465)      (359)
Tax on ordinary activities                       (44)        24        (20)
                                              ______     ______     ______
Return/(loss) attributable
to equity shareholders                            62       (441)      (379)
                                              ______     ______     ______
Transfer to/(from) reserves                       62       (441)      (379)
                                              ======     ======     ======
Return per Ordinary share (pence):                     
- Basic                                         0.31      (2.20)     (1.89)
                                              ======     ======     ======
                     

* The Statements of total return presented above are in accordance with the
Statement of Recommended Practice for Financial Statements of Investment Trust
Companies

Balance Sheet of the Company as at 30 June 2000

                                                       30 June    30 June
                                                          2000       1999
                                                    (unaudited)  (audited)
                                                         £'000      £'000
Fixed assets              
Investments                                             17,419     14,716
              
Current assets              
Debtors                                                    211        329
Cash                                                       971        154
                                                        ______     ______
                                                         1,182        483
Creditors: amounts falling due within one year            (469)      (189)
                                                        ______     ______
Net current assets                                         713        294
                                                        ______     ______
Total net assets                                        18,132     15,010
                                                        ======     ======

Capital and reserves              
Called-up share capital                                  5,000      5,000
Share premium account                                   11,642     11,642
Warrant reserve                                          2,353      2,353
Other reserves              
    Capital reserve - realised                          (3,177)    (4,893)
    Capital reserve - unrealised                         2,062        633
Revenue reserve                                            252        275
                                                        ______     ______
Total equity shareholders' funds                        18,132     15,010
                                                        ======     ======
Net asset value per Ordinary share (pence):               
Basic                                                    90.66      75.05
                                                        ======     ======


 

Cash Flow Statement
For the year ended 30 June 2000

                                      Six months ended     Six months ended
                                        30 June 2000         30 June 1999
                                         (unaudited)           (audited)
                                      £'000      £'000     £'000      £'000


Net cash outflow
from operating activities                          (60)                 (93)
                            
Servicing of finance                            
Bank and loan interest paid              (4)                 (36)       
                                     ______               ______
Net cash outflow from
servicing of finance                                (4)                 (36)
                            
Taxation                            
Net tax paid                                       (29)                 (75)
                            
Financial investment                            
Purchases of investments            (14,644)              (9,611)       
Sales of investments                 15,570               10,081       
                                     ______               ______
Net cash inflow from
financial investment                               926                  470
                                                ______               ______
Net cash inflow before financing                   833                  266
                            
Financing                            
Repayment of loan                         -               (1,199)       
                                     ______               ______
Net cash outflow from financing                      -               (1,199)
                                                ______               ______
Increase/(decrease) in cash                        833                 (933)
                                                ======               ======
                            
Reconciliation of net cash flow to movements in net funds/(debt)              
             
Increase/(decrease) in cash as above               833                 (933)
Cash outflow from repayment of loan                  -                1,199
Exchange movements                                 (16)                 (84)
                                                ______               ______
Movement in net funds in the year                  817                  182
Net funds/(debt) at 1 July                         154                  (28)
                                                ______               ______
Net funds at 30 June                               971                  154
                                                ======               ======

Notes:

1   The basic revenue loss per Ordinary share is based on the net loss on
ordinary activities after taxation of £23,000 (1999 - net return of £62,000)
and on 20,000,000 (1999  - 20,000,000) Ordinary shares, being the number of
Ordinary shares in issue throughout the year.

2   The basic capital return per Ordinary share is based on net capital gains
for the financial year of £3,145,000 (1999 - losses of £441,000) and on
20,000,000 (1999 - 20,000,000) Ordinary shares, being the number of Ordinary
shares in issue throughout the year.

3   The basic net asset value per Ordinary share is based on net assets and on
20,000,000 (1999 - 20,000,000) Ordinary shares, being the number of Ordinary
shares in issue at the year end.

4   The financial information set out above does not constitute the Company's
statutory accounts for the years ended 30 June 2000 or 1999. The financial
information for 1999 is derived from the statutory accounts for 1999 which
have been delivered to the Registrar of Companies.  The auditors have reported
on the 1999 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 2000 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.

5   Copies of the Annual Report will be posted to shareholders in late
September and further copies may be obtained from the registered office, One
Bow Churchyard, Cheapside, London EC4M 9HH.  The Annual General Meeting will
be held at the registered office of the Company on Wednesday 18 October 2000
at 12.30 p.m.


Aberdeen Asset Management PLC - Secretaries
29 August 2000