Preliminary Interim Results

Aberdeen Latin American Inv Tst PLC
28 February 2001


ABERDEEN LATIN AMERICAN INVESTMENT TRUST PLC
PRELIMINARY ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS
for the six months to 31 December 2000

Chairman's Statement

The Company's net asset value per Ordinary share at 31 December 2000 was
77.33p, which compares with a value of 90.66p at 30 June 2000.  This
represents a decrease in the net asset value of 14.7%, which compares with a
decrease of 12.8% 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 31
December 2000 were 60.75p and 17p respectively.

Latin American equities followed global markets lower during the second half
of 2000 as a number of developments, both internal and external, weighed on
the region.  It would have been difficult, if not impossible, for Latin
markets to make any gains last year given the strong headwind emanating from
the United States.  The restrictive monetary policy stance by the US Federal
Reserve, concerns about excessive valuations in technology stocks, political
uncertainty in the US, and the market's realisation that the US economy may
not after all be immune to downturns in economic activity caused extreme
volatility in the markets.  Other global concerns also weighed on Latin
America.  The difficulties in Israel, Turkey, and the Asian technology sector
pulled down valuations in all emerging markets. The strength of the US dollar
for much of the year also hurt the competitiveness of Latin America.  Even the
comfort provided for oil exporters within the region by resurgent oil prices
over the last two years was replaced with anxiety about their sustainability
at current levels.

Within Latin America, concerns about a default in Argentina dominated the
headlines and weighed heavily on equities in the Southern Cone region.  The
mood in Mexico was depressed by the emerging evidence of a sharp slowdown in
the US and by concerns about oil prices.  The country's new president,
Vincente Fox, whose election raised hopes of a complete transformation of
Mexican politics and society, faced the harsh reality of a confrontational
opposition Congress. The smaller markets of Peru, Colombia, and Venezuela were
beset by political problems including the resignation of Peru's President
Fujimori, who was long viewed as a source of stability in that country.

Despite the gloom of last year the fundamentals in the region continued to
show improvement.  Economic growth in the region averaged around 5.5%, with
Mexico and Brazil leading the way.  Regional inflation fell to 6.5%, perhaps
the lowest level in history.  Although investor interest in the region has
been muted in recent years, the improvements have not escaped the notice of
everyone.  There were a number of large acquisitions by multinational
companies last year, and this trend should continue as valuations remain
inexpensive. Standard & Poor's upgraded Brazil's sovereign debt in January and
may also increase Mexico's rating this year, which would give that country
investment grade status.

The new year has brought a more optimistic mood to Latin America, and a modest
recovery in the markets.  The region will continue to benefit from the more
benign monetary policy stance in the US.  Furthermore, with interest rate
spreads still relatively high and inflation rapidly falling to developed
market levels, the declining trend in interest rates should continue. External
factors continue to weigh heavily on the region despite the fact that economic
and corporate earnings growth have been strong. As a result, stock market
valuations remain low whereas the fundamentals in Latin America today look
better than in many of the world's developed markets.

Bryan N. Lenygon
Chairman 
27 February 2001


The unaudited results were:

Statement of Total Return *
For the six months to 31 December 2000

                                                   Six months ended
                                                       Year ended
                                                    31 December 2000
                                            Revenue      Capital        Total
                                              £'000        £'000        £'000

Losses on investments                             -       (2,512)      (2,512)
                     
Income                                          112            -          112
Investment management fee                       (26)         (78)        (104)
Other expenses                                 (126)           -         (126)
Exchange gains/(losses)                           6          (12)          (6)
                                             _______      _______      _______
Net loss before finance costs and taxation      (34)      (2,602)      (2,636)
Interest payable and similar charges            (19)           -          (19)
                                             _______      _______      _______
Loss on ordinary activities before tax          (53)      (2,602)      (2,655)
Tax on ordinary activities                      (23)          11          (12)
                                             _______      _______      _______
Transfer from reserves                          (76)      (2,591)      (2,667)
                                             =======      =======      =======
                    
Loss per Ordinary share (pence):          
- Basic                                       (0.38)      (12.96)      (13.34)
                                             =======      =======      =======
                    
                     

Statement of Total Return *
For the six months to 31 December 1999


                                                   Six months ended
                                                       Year ended
                                                    31 December 1999
                                            Revenue      Capital        Total
                                              £'000        £'000        £'000

Gains on investments                              -        2,716        2,716
                     
Income                                           87            -           87
Investment management fee                       (21)         (63)         (84)
Other expenses                                 (105)           -         (105)
Exchange losses                                   -          (19)         (19)
                                             _______      _______      _______
Net (loss)/return before 
finance costs and taxation                      (39)       2,634        2,595
Interest payable and similar charges             (1)          (2)          (3)
                                             _______      _______      _______
(Loss)/return on ordinary 
activities before tax                           (40)       2,632        2,592
Tax on ordinary activities                      (16)           8           (8)
                                             _______      _______      _______
Transfer(from)/to reserves                      (56)       2,640        2,584
                                             =======      =======      =======
                    
(Loss)/Return per Ordinary share (pence):                     
- Basic                                       (0.28)       13.20        12.92
                                             =======      =======      =======
                    
                     

* The Statements of total return above are presented as recommended by the
Statement of Recommended Practice for Financial Statements of Investment Trust
Companies.

 
Summarised Balance Sheet of the Company as at 31 December 2000

                                        31 December  31 December      30 June 
                                               2000         1999         2000
                                         (unaudited)  (unaudited)    (audited)
                                              £'000        £'000        £'000

Fixed assets                     
Investments                                  15,314       16,033       17,419
                                            _______      _______      _______
Current assets                     
Debtors                                         128          166          211
Cash at bank and in hand                        125        1,470          971
                                            _______      _______      _______
                                                253        1,636        1,182
Creditors: 
amounts falling due within one year            (102)         (75)        (469)
                                            _______      _______      _______
Net current assets                              151        1,561          713
                                            _______      _______      _______
Total assets less current liabilities        15,465       17,594       18,132
Provisions for liabilities and charges            -            -            -
                                            _______      _______      _______
Net assets                                   15,465       17,594       18,132
                                            =======      =======      ======= 
                   
Capital and reserves                     
Called-up share capital                       5,000        5,000        5,000
Share premium account                        11,642       11,642       11,642
Warrant reserve                               2,353        2,353        2,353
Capital reserve - realised                   (1,372)      (5,080)      (3,177)
Capital reserve - unrealised                 (2,334)       3,460        2,062
Revenue reserve                                 176          219          252
                                            _______      _______      _______
Total shareholders' funds                    15,465       17,594       18,132
                                            =======      =======      ======= 
                   
                     
Net asset value per Ordinary share (pence):                      
- Basic                                       77.33        87.97        90.66
                                            =======      =======      ======= 
                   


Cash Flow Statement of the Company
For the six months to 31 December 2000

 
                                                      Six months   Six months
                                                           ended        ended 
                                                     31 December  31 December
                                                            2000         1999
                                                      (unaudited)  (unaudited)
                                                           £'000        £'000


Net cash outflow from operating activities                   (80)         (34)

Net cash outflow from servicing of finance                   (14)          (3)

Net tax recovered                                             48            -
                            
Net cash (outflow)/inflow from financial investment         (788)       1,372
                                                          _______      _______
(Decrease)/increase in cash                                 (834)       1,335
                                                          =======      =======
      
Reconciliation of operating revenue to net cash 
outflow from operating activities                            
Net loss before interest and taxation                        (34)         (39)
Decrease in accrued income                                    29           64
Decrease in other debtors                                      6            4
Increase in other creditors                                    9            9
Expenses charged to capital                                  (78)         (63)
Overseas withholding tax suffered                            (12)          (9)
                                                          _______      _______
                                                             (80)         (34)
                                                          =======      =======
      

Reconciliation of net cash inflow to movements in net debt                    
       
(Decrease)/increase in cash as above                        (834)       1,335
Exchange movements                                           (12)         (19)
                                                          _______      _______
Movement in net (debt)/funds in the period                  (846)       1,316
Net funds at 1 July                                          971          154
                                                          _______      _______
Net funds at 31 December                                     125        1,470 
 
                                                          =======      =======
      
Represented by:                            
Cash at bank                                                 125        1,470
                                                          =======      =======
      



Notes :-

1.  In accordance with the stated policy no interim dividend has been declared
for the period (1999 - nil).

2.  The breakdown of income for the periods to 31 December 2000 and 1999 was
as follows:

                                            31 Dec 2000    31 Dec 1999
                                                  £'000          £'000
    Unfranked investment income (gross)             101             72
    Deposit interest                                 11             15
    Total income                                    112             87
                     
3.  The basic revenue loss per Ordinary share is based on the net loss on
ordinary activities after taxation of £76,000 (1999 - £56,000) and on
20,000,000 (1999 - 20,000,000) Ordinary shares of 25p each, being the number
of Ordinary shares in issue throughout the period. 

4.  The basic capital loss per Ordinary share is based on net capital losses
of £2,591,000 (1999 - gains of £2,640,000) and on 20,000,000 (1999 -
20,000,000) Ordinary shares of 25p, being the number of Ordinary shares in
issue throughout the period. 

5.  The financial information for the six months ended 31 December 2000 and 31
December 1999 comprises non-statutory accounts within the meaning of Section
240 of the Companies Act 1985.  The financial information for the year ended
30 June 2000 has been abridged from published accounts that have been
delivered to the Registrar of Companies and on which the report of the
auditors was unqualified.

6.  Copies of the Interim Report will be posted to shareholders as soon as
possible and further copies may be obtained from One Bow Churchyard,
Cheapside, London EC4M 9HH.

27 February 2001               Aberdeen Asset Management PLC - Secretaries



Independent review report by KPMG
to Aberdeen Latin American Investment Trust PLC

Introduction

We have been instructed by the Company to review the financial information set
out above and we have read the other information contained in the Interim
Report for any apparent misstatements or material inconsistencies with the
financial information.

Directors' responsibilities

The Interim Report, including the financial information therein, is the
responsibility of, and has been approved by, the Directors.  The Listing Rules
of Financial Services Authority require that the accounting policies and
presentation applied to the interim figures should be consistent with those
applied in preparing the preceding annual accounts except where any changes,
and the reasons for them, are disclosed.  

Review work performed

We conducted our review in accordance with guidance contained in Bulletin
1999/4 issued by the Auditing Practices Board.  A review consists principally
of making enquiries of management and applying analytical procedures to the
financial information and underlying financial data, and based thereon,
assessing whether the accounting policies and presentation have been
consistently applied unless otherwise disclosed.  A review excludes audit
procedures such as tests of controls and verification of assets, liabilities
and transactions.  It is substantially less in scope than an audit performed
in accordance with Auditing Standards and therefore provides a lower level of
assurance than an audit.  Accordingly we do not express an audit opinion on
the financial information.

Review conclusion

On the basis of our review we are not aware of any material modifications that
should be made to the interim financial information as presented for the six
months ended 31 December 2000.

KPMG
Chartered Accountants
Aberdeen
27 February 2001