Interim Management Statement

BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 30 September 2013

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 2013 to 
30 September 2013, 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 and an attractive
total return 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)                     4.0%       -3.4%      -6.6%      36.6%
Net Asset Value (2)                     3.8%       -2.8%      -6.8%      36.2%
Share Price                             3.8%       -0.2%      -5.1%      39.4%
MSCI EM Latin America Index             3.7%       -2.5%      -7.5%      33.4%

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    % of Benchmark
                                                                               
Itau Unibanco                       Brazil                7.0               4.8
Petrobrás                           Brazil                6.2               7.7
Vale                                Brazil                4.8               6.3
FEMSA                               Mexico                4.1               2.5
Cemex                               Mexico                3.5               1.7
CCR                                 Brazil                3.4               0.9
Grupo Televisa                      Mexico                3.4               1.9
BB Seguridade                       Brazil                3.3               0.8
Ambev                               Brazil                3.1               4.3
BRF Sponsore                        Brazil                3.1               2.1

Financial position and performance as at 30 September 2013

Gross Assets (£m)                                217.4
Short term borrowings (£m)                         8.9
Convertible Bond (£m)                             10.4
Net asset value-capital only*                  500.33p
Net asset value-cum income*                    503.30p
Net asset value-capital only with
bond at fair value**                           497.47p
Net asset value-cum income with                
bond at fair value**                           500.45p      
Net asset value- capital only and       
with bond converted***                         497.47p
Net asset value- cum income and      
with bond converted***                         500.45p
Share Price                                    454.00p
Ordinary Shares in issue                              
(excluding 2,212,662 treasury 
shares)                                     39,361,585
Actual Gearing**                                  8.4%
Discount (share price to cum                     
income NAV with bond at fair                       
value)~                                           9.3%
Average discount to NAV for                    
month to 30 September 2013***                    10.1%     

*Par value refers to the par-value of the convertible bond which is also the
amount repayable to holders on the maturity of the bond.

**Fair value refers to the price at which the bond is currently traded in the
market. The variance in the NAV performance using these different methods to
value the bond is to illustrate the effects of dilution should the bond be
converted.

***Where the current Net Asset Value (including income) in US dollar terms with
bond at fair value exceeds the conversion price of US$9.83 for the convertible
bond, the Net Asset Value is shown on a fully diluted basis, reflecting the
impact of converting the bond at a lower value. Where the current Net Asset
Value (including income) in US dollar terms with bond at fair value does not
exceed the conversion price, the Net Asset Value will be the same as that
without the conversion of the bond.

~The Discount is calculated based on the methodology for calculation of the Net
Asset Value (expressed in sterling terms) as set out in the preceding statement

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

Tender offer

It was announced on 9 July 2013 that the Board had decided not to implement a
semi-annual tender offer in September 2013.

Interim Dividend

An interim dividend of 15.00 cents per share was declared on 23 August 2013,
payable on 4 October 2013 to shareholders on the register on 6 September 2013.

Convertible Bond

It was announced on 10 September 2013 that convertible bonds (Bonds) with a
nominal amount of US$47,003,000 had been tendered and would be cancelled with
effect from 15 September 2013. The tender price was US$998.78 per US$1,000
nominal amount of the Bonds (the aggregate nominal amount of the Bonds of the
relevant holders of Bonds accepted for purchase, less the pro rata costs of the
Offer (rounded down to the nearest cent)) and was paid on 16 September 2013.

An Optional Conversion Notice was issued on 23 September 2013 whereby the
holding of Bonds of each Bondholder would be automatically converted at the
conversion price applicable on the Optional Conversion Date. However each
Bondholder also had the right, by giving written notice to the Company to
irrevocably require the Company, in lieu of converting, to repay the whole or
such part of their Bonds as may be specified in such notice, at their nominal
amount on the Optional Conversion Date together with interest accrued up to but
excluding the Optional Conversion Date.

The Board announced on 10 October 2013 that it had received redemption requests
in respect of 16,918 Bonds with a nominal value of S$16,918,000.

The remaining 79 Bonds with a nominal value of US$79,000 were converted into
8,035 Ordinary Shares on 16 October 2013 at the conversion price of US$9.83.

The payment of interest in respect of the Bonds for the period up to (but
excluding 16 October 2013) was made separately on 16 October 2013.

Half Yearly Financial Report

The Company announced its half yearly financial results for the period ended 30
June 2013 on 23 August 2013.

Net Asset Value

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

The unaudited net asset value for BlackRock Latin American Investment Trust plc
at close of business on 7 November 2013 was:

Capital only Sterling (pence) 499.97p
Including current year income Sterling (pence) 504.03p

Directors' Acquisition or Disposal of Shares and Bonds

Since 30 June 2013, the following directors have purchased/sold the following
ordinary shares and bonds:

Dr Mahrukh Doctor - sale of 2 ordinary shares (to fund the ISA plan management
charge) on 16 September 2013 and purchase of 13 ordinary shares on 4 October
2013 (dividend reinvestment).

Desmond O'Conor - sale of 25 ordinary shares (to fund the ISA plan management
charge) on 16 September 2013 and purchase of 168 ordinary shares (dividend
reinvestment) on 4 October 2013.

On 15 September 2013 the following bonds were sold by tender:

Peter Burnell - 100 bonds
Antonio Monteiro de Castro - 100 bonds
Michael St Aldwyn - 100 bonds
Laurence Whitehead - 100 bonds

Material Events and transactions

There were no other material events or transactions, except as disclosed,
during the three months to 30 September 2013, 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 2013 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]
11 November 2013

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).