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001 A000000 THE LATIN AMERICA INVESTMENT FUND, INC.
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002 A000000 ONE CITICORP CENTER 153 EAST 53RD STREET
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008 A000002 SALOMON BROTHERS ASSET MANAGEMENT INC.
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008 D010002 NEW YORK
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008 D030002 10048
008 A000003 CELFIN SERVICIOS FINANCIEROS LIMITADA
008 B000003 S
008 C000003 801-34897
008 D010003 SANTIAGO
008 D050003 CHILE
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<PAGE> PAGE 2
010 C010001 NEW YORK
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010 C030001 10167
010 A000002 BEA ADMINISTRATION, ADMINISTRADORA DE FONDOS
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020 A000006 BANCO FONTE
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SIGNATURE MICHAEL PIGNATARO
TITLE CFO
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000862599
<NAME> THE LATIN AMERICA INVESTMENT FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 138365473
<INVESTMENTS-AT-VALUE> 181102473
<RECEIVABLES> 2453775
<ASSETS-OTHER> 38172
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<TOTAL-LIABILITIES> 2674984
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 130702239
<SHARES-COMMON-STOCK> 7867385
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<OVERDISTRIBUTION-GAINS> 0
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</TABLE>
RESULTS OF ANNUAL MEETING OF SHAREHOLDERS (UNAUDITED)
On April 22, 1997, the annual meeting of shareholders of The Latin
America Investment Fund, Inc. (the "Fund") was held and the
following matters were voted upon:
(1) To re-elect four directors to the Board of Directors of the
Fund.
Name of Director For Withheld Non-Votes
Dr. Enrique R. Arzac 4,971,465 156,920 2,739,000
George W. Landau 4,965,305 163,080 2,739,000
William W. Priest, Jr. 4,961,866 166,519 2,739,000
Richard W. Watt 4,962,087 166,298 2,739,000
In addition to the directors re-elected at the meeting, James J.
Cattano, Peter A. Gordon, Michael Hyland and Martin M. Torino
continue to serve as directors of the Fund.
(2) To ratify the selection of Coopers & Lybrand L.L.P. as
independent public accountants for the year ending December
31, 1997.
For Against Abstain Non-Votes
4,969,674 112,654 46,057 2,739,000
(3) To approve an amendment to the Fund's investment restrictions
to permit the Fund to issue "senior securities" to the extent
permitted by the Investment Company Act of 1940, as amended.
For Against Abstain Non-Votes
1,800,828 1,138,384 117,610 4,810,563
The Fund did not receive the required votes to approve the
above proposal.
(4) To approve an amendment to the Fund's Articles of Incorporation
relating to the size of the Board of Directors and the removal
of Directors.
For Against Abstain Non-Votes
4,542,300 970,375 160,127 2,194,583
