The Board of Directors of Aberdeen Latin America Equity Fund, Inc. (NYSE AMEX: LAQ) (the “Fund”) is pleased to report the Fund’s payment of a distribution of $9.282 per share of common stock, which was declared on September 1, 2010 and payable on October 29, 2010, to shareholders of record at the close of business on September 14, 2010.

As previously announced, the distribution was payable in the Fund's common stock. However, stockholders had the option to request that their distributions be paid in cash in lieu of common stock. The aggregate amount of cash distributions to all stockholders was limited to 10% of the aggregate dollar amount of the total distribution. Because cash distribution requests exceeded this limit, the Fund pro rated the cash distribution among all stockholders who made such requests. Stockholders who requested cash distributions received $1.46436 per share or 15.78% of the distribution in cash and received the balance in the Fund's common stock. For purposed of computing the stock portion of the dividend, the common stock distributed was valued at $37.99 per share, which equaled the average closing price of the Fund’s common shares on the NYSE AMEX on October 21, 2010 and the two preceding trading days.

Under U.S. tax rules applicable to the Fund, the amount and character of distributable income for each fiscal year can be finally determined only as of the end of the Fund’s fiscal year. However, under Section 19 of the Investment Company Act of 1940, as amended (the “1940 Act”) and related Rules, the Fund may be required to indicate to shareholders the source of certain distributions to shareholders.

The following table sets forth the estimated amounts of the sources of the distribution for purposes of Section 19 of the 1940 Act and the Rules adopted thereunder. The table includes estimated amounts and percentages for this distribution and for the cumulative distributions paid year to date from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital.
 
   

EstimatedAmounts ofCurrentDistributionper share ($)
 

EstimatedAmounts ofCurrentDistributionper share (%)
 

EstimatedAmounts of FiscalYear to DateCumulativeDistributionsper share ($)
 

EstimatedAmounts of FiscalYear to DateCumulativeDistributionsper share (%)

Net InvestmentIncome
  $0.1070   1%   $0.1070   1%

Net Realized Short-Term Capital Gains
  $0.6710   7%   $0.6710   7%

Net Realized Long-Term Capital Gains
  $8.504   92%   $8.504   92%
Return of Capital   $0.000   0%   $0.000   0%
Total   $9.282   100%   $9.282   100%
       

The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions in 2010 will be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The Fund is a closed-end management investment company seeking long-term capital appreciation primarily through investment in Latin American equity securities.

Aberdeen Latin America Equity Fund, Inc. is listed on the NYSE AMEX under the ticker symbol “LAQ.”

Circular 230 disclosure: To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

Important Information

Aberdeen Asset Management Inc. has prepared this notice based on information sources believed to be accurate and reliable. However, the figures are unaudited and neither the Fund, Aberdeen Asset Management Investment Services Limited (the Investment Adviser), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.
 

If you wish to receive this information electronically, please contact InvestorRelations@aberdeen-asset.com
 

www.aberdeenlaq.com

Aberdeen Asset Management Investment Services Limited is a registered investment adviser under the Investment Advisers Act of 1940.

Copyright Business Wire 2010

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