Interim Management Statement

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 30 September 2012

To the members of BlackRock Latin American Investment Trust plc.

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 July 2012 to 
30 September 2012, and contains information that covers this period, and up to the
date of publication of this interim management statement

The Company's objective is to secure long term capital growth primarily through
investing in quoted securities in Latin America. The Company is managed by Will
Landers of BlackRock Investment Management.

Stock Performance
Cumulative Performance(%):
                                         One       Three        One       Five
                                       Month      Months       Year      Years
Net Asset Value (1)                     1.8%        3.1%       7.8%      17.6%
Net Asset Value (2)                     1.8%        3.5%      10.8%      17.5%
Share Price                             0.4%        1.2%       0.9%       6.9%
MSCI EM Latin America Index             2.2%        1.7%       9.5%      30.2%

All performance figures are in Sterling on a total return basis.

 1. cum income - bond at par
 2. cum income - bond at fair value since 15 September 2009
   
Ten Largest Equity Investments (in percentage order)

Company                         Country of Risk        % of Company
                                                                   
Vale                                     Brazil                 8.2
Petrobrás                                Brazil                 7.8
América Móvil                            México                 7.7
Banco Bradesco                           Brazil                 5.0
Fomento Economico Mexicano               México                 4.7
Itau Unibanco                            Brazil                 4.5
Grupo Televisa                           Mexico                 3.4
CCR                                      Brazil                 3.1
Ambev                                    Brazil                 2.8
Banco do Brasil                          Brazil                 2.2

Financial position and performance as at 30 September 2012

Gross Assets (£m)                               283.57
Short term borrowings (£m)                         nil
Convertible Bond (£m)                             49.2
Net asset value-capital only                   555.82p
Net asset value-cum income                     563.70p
Net asset value-capital only with 
bond at fair value                             553.88p
Net asset value-cum income with
bond at fair value                             561.76p
Net asset value- capital only and 
with bond converted*                           553.88p
Net asset value- cum income and 
with bond converted*                           561.76p
Share Price*                                   503.00p
Ordinary Shares in issue       
(excluding 2,267,065 treasury                         
shares)                                     41,574,247
Actual Gearing**                                  9.6%
Discount (share price to cum 
income NAV with bond at fair                          
value)                                           10.5%
Average discount to NAV for one           
month to 30 September 2012***                     9.4%

* In the event that the US dollar net asset value on an income inclusive with
bond at fair value basis exceeds the current conversion price of $9.83 for the
convertible bond a fully diluted assuming bond conversion NAV is presented.
When this is not the case the NAVs with bond converted will be the same as the
NAVs with bond at fair value.

** Gearing is calculated using debt at par, less cash and cash equivalents and
fixed interest investments as a percentage of net assets.

*** To the extent that the US dollar Net Asset Value on an income inclusive
with bond at fair value basis exceeds the current conversion price of $9.83 for
the convertible bond, the discount is calculated using the share price as a
percentage of the fully diluted cum income Net Asset Value in sterling terms.
Where the Net Asset Value on an income inclusive with bond at fair value basis
does not exceed the conversion price, the discount is calculated using the
share price as a percentage of the cum income Net Asset Value with bond at fair
value.

Tender offer

It was announced on 2 August 2012 that the Board had decided not to implement a
semi-annual tender offer in September 2012.

Interim Dividend

An interim dividend of 5.00 cents per share was declared on 14 August 2012,
payable on 27 September 2012 to shareholders on the register on 24 August 2012.

Convertible Bond

The semi annual interest payment in respect of the US$79,948,000 3.5%
Convertible Bonds due 2015 was paid on 17 September 2012.

The conversion price in respect of the bonds has increased to US$9.83 with
effect from 15 September 2012.

Half Yearly Financial Report

The Company announced its half yearly financial results for the period ended 
30 June 2012 on 14 August 2012.

Net Asset Value

The Company announces its NAV on a daily basis, which can be accessed via 
http://www.brlaplc.co.uk, under the "News" tab.

The unaudited net asset value for BlackRock Latin American Investment Trust plc
at close of business on 16 October 2012 was:

Capital only Sterling (pence) 569.04p
Including current year income Sterling (pence) 577.54p
Capital only Sterling (pence) with convertible bond at fair value 568.31p
Including current year income Sterling (pence) with convertible bond at fair
value 576.81p
Fully diluted for full conversion of bond Sterling (pence) including capital
only 568.31p
Fully diluted for full conversion of bond Sterling (pence) including income
576.81p

Directors' Acquisition of Shares

Since 30 June 2012, the following directors have purchased/sold the following
ordinary shares:

Dr Mahrukh Doctor - sale of 2 ordinary shares (to fund the ISA plan management
charge) on 17 September 2012 and purchase of 4 ordinary shares on 27 September
(dividend reinvestment).

Desmond O'Conor - sale of 24 ordinary shares (to fund the ISA plan management
charge) on 17 September 2012 and purchase of 49 ordinary shares (dividend
reinvestment) on 27 September 2012.

Transaction in Company's Own Shares

It was announced on 11 October 2012 that the Company had bought back 25,000 
shares to be held in treasury at a price of 515.00 pence per share.

Material Events and transactions

There were no other material events or transactions, except as disclosed,
during the three months to 30 September 2012, nor was the Company involved in
any other material transactions during the period except the purchase and sale
of securities undertaken in the normal course of its business.

The Board is not aware of any material events or transactions, except as
disclosed herein, occurring between 30 September 2012 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company.

Contact details:
Barbara Powley
Company Secretary

Tel: [phone]

17 October 2012

ENDS

Please note that more detailed performance information is available on the
Investment Manager's website-www.blackrock.co.uk/brla. Neither the contents of
the Investment Manager's website nor the contents of any website accessible
from hyperlinks on the Investment Manager's website (or any other website) is
incorporated into, or forms part of, this announcement.

Latest information is also available by typing "BLRKINDEX" on Reuters, "BLRK"
on Bloomberg or "8800" on Topic 3 (ICV terminal).