The Board of Directors of Aberdeen Latin America Equity Fund, Inc. (NYSE AMEX: LAQ) (the “Fund”) is pleased to report the Fund’s distribution of US$0.80553 per share of common stock declared on December 22, 2010, payable on January 14, 2011, to shareholders of record at the close of business on December 30, 2010.

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.
                  Estimated       Estimated
Estimated Estimated Amounts of Year Amounts of Year
Amounts of Amounts of to Date to Date
Current Current Cumulative Cumulative
Distribution Distribution Distributions Distributions
        per share ($)       per share (%)       per share ($)       per share (%)
Net Investment Income       $0.36493       45%       $0.47193       5%
Net Realized Short-Term Capital Gains       $0.39478       49%       $1.06578       10%
Net Realized Long-Term Capital Gains       $0.04582       6%       $8.54982       85%
Return of Capital       -       -       -       -
Total (per common share)       $0.80553       100%       $10.08753       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.

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.

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