THE LATIN AMERICA INVESTMENT FUND, INC.
c/o Credit Suisse Asset Management
466 Lexington Avenue
New York, New York 10017
September 8, 2000
Dear Shareholder:
The Latin America Investment Fund, Inc. (the "Fund") is offering to purchase
3,125,120 of its issued and outstanding shares of common stock at a price equal
to 95% of the net asset value per share determined as of the close of the
regular trading session of the New York Stock Exchange on the date the offer
expires (the "Offer").
The Offer is explained in detail in the enclosed Offer to Purchase and
Letter of Transmittal. If you wish to tender your shares, instructions on how to
tender shares are provided in the enclosed materials. I encourage you to read
these materials carefully before making any decision with respect to the Offer.
Neither the Fund nor its Board of Directors makes any recommendation to any
shareholder whether to tender any or all shares.
Please note that the Offer is scheduled to expire at 5:00 P.M. Eastern Time
on October 20, 2000, unless extended by the Fund. Questions regarding the Offer
should be directed to Shareholder Communications Corp., the Information Agent,
at (800) 498-2621.
Sincerely,
/s/ William W. Priest, Jr.
William W. Priest, Jr.
Chairman of the Board of Directors
FORM OF LETTER TO SHAREHOLDERS WHO HAVE
REQUESTED INFORMATION REGARDING THE OFFER BY
THE LATIN AMERICA INVESTMENT FUND, INC.
TO PURCHASE FOR CASH 3,125,120 OF ITS ISSUED AND OUTSTANDING
SHARES AT 95% OF THE NET ASSET VALUE PER SHARE
Dear Shareholder:
Pursuant to your request, enclosed for your consideration are the Offer to
Purchase dated September 8, 2000 of The Latin America Investment Fund, Inc. (the
"Fund") and the related Letter of Transmittal pursuant to which the Fund is
offering to purchase 3,125,120 shares of its issued and outstanding common
stock, par value $0.001 per share (the "Shares"), for cash at a price equal to
95% of their net asset value ("NAV") determined as of the close of the regular
trading session of the New York Stock Exchange ("NYSE") on October 20, 2000,
upon the terms and subject to the conditions set forth in the Offer to Purchase
dated September 8, 2000 and the related Letter of Transmittal (which together
with any amendments or supplements thereto collectively constitute the "Offer").
THE OFFER EXPIRES AT 12:00 MIDNIGHT EASTERN TIME ON OCTOBER 20, 2000, UNLESS
EXTENDED (THE "EXPIRATION DATE"). If the Offer is extended beyond October 20,
2000, the purchase price for Shares will be their NAV determined as of the close
of the regular trading session of the NYSE on the new Expiration Date, as
extended.
Neither the Fund nor its Board of Directors nor Credit Suisse Asset
Management, LLC (the Fund's investment advisor) is making any recommendation to
any holder of Shares as to whether to tender Shares. Each shareholder is urged
to consult the shareholder's own investment and tax advisors before deciding
whether to tender Shares. If, after considering the Offer to Purchase and Letter
of Transmittal, you wish to tender your Shares pursuant to the Offer, if you are
the record owner of Shares, you should follow the instructions contained in the
Offer to Purchase and Letter of Transmittal, and, if the Shares are held of
record in the name of a broker, dealer, commercial bank, trust company or other
nominee, you should contact that firm to effect the tender for you.
Your attention is called to the following:
1. Unless extended, the Offer and withdrawal rights expire at 5:00 P.M.
Eastern Time on October 20, 2000.
2. The Offer is subject to certain conditions set forth in the Offer to
Purchase. Under certain circumstances, the Fund will not be required to
accept for payment, purchase or pay for any Shares tendered, and the
Fund may also amend, extend or terminate the Offer.
3. If more than 3,125,120 Shares are duly tendered (and not timely
withdrawn), the Fund will purchase Shares from tendering shareholders,
in accordance with the terms and subject to the conditions specified in
the Offer to Purchase, on a pro rata basis (disregarding fractions) in
accordance with the number of Shares duly tendered by each shareholder
during the period the Offer is open (and not timely withdrawn), unless
the Fund determines not to purchase any Shares.
The Offer is not being made to (nor will tenders be accepted from or on
behalf of) holders of Shares in any jurisdiction in which the Offer or its
acceptance would violate the laws of such jurisdiction. In any jurisdiction
where the securities, blue sky or other laws require the Offer to be made by a
licensed broker or dealer, the Offer shall be deemed to be made on behalf of the
Fund by one or more registered brokers or dealers licensed under the laws of
that jurisdiction.
Should you have any other questions concerning the enclosed material, please
contact your broker, dealer, commercial bank, trust company or other nominee, or
call the Depositary at the number indicated in the Offer to Purchase.
Very truly yours,
The Latin America Investment Fund,
Inc.
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