Change to Management and Performance Fees

Merrill Lynch Latin American Investment Trust PLC

28 June 2007

                          STOCK EXCHANGE ANNOUNCEMENT                          

               MERRILL LYNCH LATIN AMERICAN INVESTMENT TRUST PLC               

                        MANAGEMENT AND PERFORMANCE FEES                        

28 June 2007

Merrill Lynch Latin American Investment Trust PLC announces that having taken
financial advice from Cenkos Securities plc, the Board has recently reviewed
the basis of remuneration of the Manager and has now agreed a revised
management fee basis. The new arrangements will take effect from 1 July 2007.

Revised Basic Management fee: The Manager is currently entitled to a fee of 1%
per annum plus VAT of net asset value ("NAV"), paid quarterly in arrears. This
will be reduced to 0.85% per annum (plus VAT) of NAV.

New Performance Fee: The Manager will be entitled to a performance fee equal to
10% of any outperformance of the NAV per share (on a US$ total return basis)
over the MSCI Emerging Markets Latin American Index (on a US$ total return
basis) plus a hurdle of 1.0%. The amount of performance fee payable in any one
year will be capped at 1.0% of NAV. For the first six month period running from
1 July 2007 to 31 December 2007, the cap will be pro-rated accordingly.
However, any performance fee will only be paid to the extent that the
cumulative performance since 1 July 2007 is ahead of the MSCI Emerging Markets
Latin American Index (on a US$ total return basis).

For further information, please contact:

Peter Burnell - 01434 632 292

Merrill Lynch Latin American Investment Trust PLC

Jonathan Ruck Keene - 020 7743 3000

BlackRock Investment Management (UK) Limited

Will Rogers - 020 7397 1920

Cenkos Securities plc