PHILADELPHIA, Dec. 4 /PRNewswire-FirstCall/ -- The Latin America Equity Fund, Inc. (the "Fund") (NYSE Amex: LAQ), a closed-end equity fund, announced today its performance data and portfolio composition as of October 31, 2009. The Fund's total returns for various periods through October 31, 2009 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees): Period NAV Total Return % Market Price Total Return % Cumulative Annualized Cumulative Annualized Since inception 805.1 13.0 647.9 11.8 (October 1991) 10-years 468.3 19.0 577.2 21.1 5-years 242.3 27.9 259.4 29.1 3-years 50.9 14.7 47.5 13.8 1-year 83.0 79.7 On October 31, 2009, the Fund's net assets amounted to US$243.4 million and the Fund's NAV per share was $39.83. As of October 31, 2009, the portfolio was invested as follows: Percent of Net Portfolio Composition Assets Basic Materials 21.4 Financials 18.5 Energy 17.1 Communications 12.1 Consumer, Non-Cyclical 10.8 Consumer, Cyclical 6.2 Industrials 4.5 Utilities 4.3 Other 2.7 Diversified 2.4 The Fund's ten largest equity holdings as of October 31, 2009, representing 50.3% of net assets, were: Percent of Net Stock Assets Petroleo Brasileiro SA Petrobas 17.1 Vala SA 9.9 America Movil SAB de CV 5.5 Banco Bradesco SA 3.2 Vale SA 3.2 Fomento Economico Mexicano SAB de CV 2.5 Itau Unibanco Holding SA 2.4 Gerdau SA 2.3 Itau Unibanco Banco 2.1 Multi-Plan Empreendimentos 2.1 Important Information Aberdeen Asset Management Inc. has prepared this report 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. Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance. Past performance is not indicative of future results, current performance may be higher or lower. Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown. Inception date October 30, 1991. If you wish to receive this information electronically, please contact: DATASOURCE: The Latin America Equity Fund, Inc. CONTACT: Aberdeen Asset Management Inc., Investor Relations, 1-866-839-5205, Web Site: http://www.aberdeen-asset.com/

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