PHILADELPHIA, Feb. 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 December 31, 2009. The Fund's total returns for various periods through December 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 910.7 13.6 755.7 12.5 (October 1991) 10-years 369.6 16.7 475.5 19.1 5-years 222.3 26.4 229.8 26.9 3-years 46.5 13.6 41.7 12.3 1-year 109.3 120.9 On December 31, 2009, the Fund's net assets amounted to US$265.1 million and the Fund's NAV per share was $43.42. As of December 31, 2009, the portfolio was invested as follows: Portfolio Composition Percent of Net Assets Financials 20.9 Consumer, Non-Cyclical 18.9 Basic Materials 16.9 Industrials 11.5 Consumer, Cyclical 10.4 Energy 8.7 Communications 8.2 Other 2.1 Utilities 1.8 Diversified 0.6 The Fund's ten largest equity holdings as of December 31, 2009, representing 52.7% of net assets, were: Stock Percent of Net Assets Petroleo Brasileiro SA Petrobas 8.7 Vala SA 8.6 America Movil SAB de CV 5.5 Banco Bradesco SA 5.5 Fomento Economico Mexicano SAB de CV 4.5 Lojas Renner SA 4.3 Grupo Financiero Banorte SAB de CV 4.0 Tenarsis SA 4.0 Naturo Cosmeticos SA 3.8 Ultrapar Participacoes SA 3.8 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,

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