Correction : Portfolio Update

Announcement corrected to reflect a change to the dividend yield figure. Figure
should read 2.5%. All other information remains the same.



BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

All information is at 31 August 2011 and unaudited.

Performance at month end is calculated with income reinvested

                         One    Three       One     Three      *Since      Five     
                       Month   Months      Year     Years    31.03.06     Years    
Sterling:                                                                      
Net asset value        -5.3%   -10.1%     -1.8%     27.0%       96.1%    116.0%   
Share price            -1.9%    -8.8%     -3.8%     23.9%       89.7%    107.5%   
MSCI EM Latin America  -4.6%    -7.9%     -0.4%     25.6%      104.8%    122.8% 
US Dollars:                                                                    
Net asset value        -6.1%   -11.1%      4.0%     13.3%       84.0%     84.8%    
MSCI EM Latin America  -5.4%    -8.9%      5.5%     12.1%       92.2%     90.7%    

Sources: BlackRock, Standard & Poor's Micropal
*Date which BlackRock took over the investment management of the Company.

At month end                                                                   
                                                                               
Net asset value - capital only:                                  636.69p       
Net asset value** - cum income:                                  649.79p       
Net asset value - capital only and with bond at fair value:      613.32p       
Net asset value** - cum income and with bond at fair value:      626.42p       
Net asset value** - cum income and with bond converted:          632.46p       
Share price:                                                     600.00p       
Total assets^:                                                  £333.57m       
Discount (share price to capital with bond converted NAV):          3.5%       
Average discount over the month - capital:                          4.9%
Average discount over the month – cum income:                       6.6%
Gearing~:                                                          12.3%       
Net yield:                                                          2.5%       
Ordinary shares in issue:                                     43,841,312       

**Includes 8 months net revenue equal to 13.10p after payment of the first
interim of 3.13p.
^Total assets include current year revenue.
~Gearing is calculated using debt at par, less cash and cash equivalents as a
percentage of gross assets.

Geographical Regional Exposure                           % Total Assets
                                                                               
Brazil                                                             73.2
Mexico                                                             16.2
Chile                                                               4.3
Peru                                                                1.7
Colombia                                                            1.4
Panama                                                              1.3
Argentina                                                           0.4
Net current assets                                                  1.5
                                                                  -----
Total                                                             100.0
                                                                  -----

Ten Largest Equity Investments (in alphabetical order)

Company                            Country of Risk             % of Company   
                                                                              
Vale                                        Brazil                     11.7   
Itaú Unibanco                               Brazil                      9.5   
Petrobrás                                   Brazil                      8.5   
América Móvil                               Mexico                      7.2   
Banco Bradesco                              Brazil                      5.9   
AmBev                                       Brazil                      5.0   
Fomento Economico Mexicano                  Mexico                      2.9   
Lojas Renner                                Brazil                      2.5   
OGX Petroleoegas                            Brazil                      2.3   
Grupo Televisa                              Brazil                      2.3   

Commenting on the markets, Will Landers, representing the investment
Manager noted;

Performance

For the month of August 2011, the Company posted a 5.3% decline in its NAV
while the shares fell by 1.9% (all in sterling terms). This trailed the

-4.6% return posted by the Company's benchmark, the MSCI EM Latin America
Index.

The Company benefited primarily from stock selection in Brazil, Chile and
Mexico and an overweight position in Panama via Copa Airlines. The largest
individual positive contributors for the month included an underweight position
in Petrobras, overweight positions in Ambev and Copa Airlines and not owning
Cemex. Offsetting some of the underperformance relative to the benchmark for
the month was an off-benchmark position in Colombia via Pacific Rubiales and an
underweight to Colombia. Individual negative contributions to performance for
the month came from iron ore giant Vale and overweights to Itau, Pacific
Rubiales and Profarma.

Transactions/Gearing

During the month in Brazil, we added to financials on weakness, reintroduced
credit card acquirers, added to utilities while we reduced and diversified our
exposure to oil & gas by reducing Petrobras, OGX and Pacific Rubiales and
adding HRT. In addition, we increased exposure to Peru. Other sources of
funding for these changes during the month included reducing exposure to
Brazilian petrochemicals and consumers, Mexican banks and construction and
Panamanian airlines.

Positioning

Brazil is at the forefront in terms of starting to cut rates to ensure that its
economy does not suffer as big a slowdown as that which is expected from the US
and Europe. Unfortunately, the correlation among markets remains high, so as
long as the European situation is in question, it may lead to continued
volatility in Latin America. However, the fundamentals are good, the new
government in Brazil is working well, and valuations are very cheap - all of
which makes for an attractive entry point into the region. Brazil continues to
be an overweight while Mexico, Chile, Colombia and Peru remain underweights.

23 September 2011

ENDS

Latest information is available by typing www.blackrock.co.uk/brla on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal). Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.