PROXY


             THE LATIN AMERICAN DISCOVERY FUND, INC.

            C/O MORGAN STANLEY ASSET MANAGEMENT INC.
                   1221 AVENUE OF THE AMERICAS
                    NEW YORK, NEW YORK 10020

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS


The undersigned hereby constitutes and appoints WARREN J. OLSEN,
MICHAEL F. KLEIN, VALERIE Y. LEWIS and HAROLD J. SCHAAFF, JR., and
each of them, as proxies for the undersigned, with full power of
substitution and resubstitution, and hereby authorizes said
proxies, and each of them, to represent and vote, as designated on
the reverse side, all stock of the above Company held of record by
the undersigned on March 24, 1997 at the Annual Meeting of
Stockholders to be held on April 30, 1997, and at any adjournment
thereof.

     The undersigned hereby revokes any and all proxies with
respect to such stock heretofore given by the undersigned. The
undersigned acknowledges receipt of the Proxy Statement dated March
[27], 1997.



     (CONTINUED AND TO BE SIGNED AND DATED ON REVERSE SIDE.)
                        SEE REVERSE SIDE

   
[X] Please mark your votes as in this sample.

1.   Election of the following nominees as Directors:

    FOR       WITHHELD

    [ ]         [ ]      Class II Nominees:   
                         John W. Croghan, and Graham E. Jones

                         ______________________________________
                         For all nominees except as noted above

    MARK HERE FOR ADDRESS CHANGE AND NOTE BELOW  [ ]

2.   Ratification of the selection of Price Waterhouse LLP as
     independent accountants.

    FOR               AGAINST             ABSTAIN

    [ ]                 [ ]                 [ ]

3.   Approval of the Investment Advisory and Management Agreement
     with Morgan Stanley Asset Management Inc.

    FOR               AGAINST             ABSTAIN

    [ ]                 [ ]                 [ ]

4.   In the discretion of such proxies, upon any and all other
     business as may properly come before the Meeting or any
     adjournment thereof.


THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER
DIRECTED HEREIN BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS
MADE, THIS PROXY WILL BE VOTED FOR THE ELECTION OF THE TWO CLASS II
NOMINEES AND IN FAVOR OF PROPOSAL NO. 2 AND PROPOSAL NO. 3        
                                
PLEASE SIGN EXACTLY AS YOUR NAME APPEARS. WHEN SHARES ARE HELD BY
JOINT TENANTS, EACH JOINT TENANT SHOULD SIGN.


SIGNATURES(S)___________________________________  
DATE _______________, 1997

When signing as attorney, executor, administrator, trustee,
guardian or custodian, please sign full title as such. If a
corporation, please sign full corporate name by authorized officer
and indicate the signer's office.

If a partnership, please sign in partnership name. PLEASE MARK,
SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED
ENVELOPE.