LATIN AMERICA INVESTMENT FUND INC
3, 1999-07-09
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<PAGE>

    FORM 3
    ------
                    U.S. SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549


             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section  16(a) of the Securities Exchange Act of
     1934, Section 17(a) of the Public Utility Holding Company Act
     of 1935 or Section 30(f) of the Investment Company Act of 1940

 <TABLE>
 <CAPTION>
 ---------------------------------------    ------------------------    --------------------------------------------------------
<S>                                        <C>                         <C>                                <C>
 1. Name and Address of Reporting Person     2. Date of Event            4. Issuer Name and Ticket
                                                Requiring Statement         or Trading Symbol
                                                (Month/Day/Year)
Roett         Riordan                           February 9, 1999            The Latin America Investment Fund, Inc. (LAM)


- ----------------------------------------    ------------------------    ----------------------------        ---------------------
   (Last)    (First)    (Middle)             3. IRS or Social Security  5. Relationship of Reporting        6. If Amendment,
                                                Number of Reporting        Person to Issuer                    Date of Original
                                                Person (Voluntary)         (Check all applicable)              (Month/Day/Year)

                                                                           [X] Director  [ ] 100% Owner
                                                                           [ ] Officer   [ ] Other (specify
The Johns Hopkins University                                              (title below)             below)
1740 Massachusetts Avenue
- ------------------------------
         (Street)

 Washington     DC     20036
- -------------------------------------------------------------------- -------------------------------------------------------------
   (City)     (State)  (Zip)

</TABLE>

<TABLE>
<CAPTION>

                      Table I -- Non-Derivative Securities Beneficially Owned

 -------------------------------- -------------------------------- ---------------------- ----------------------------------------
<S>                             <C>                               <C>                     <C>
 1.Title of Security              2. Amount of Securities           3. Ownership Form:      4. Nature of Indirect Beneficial
    (Instr. 4)                       Beneficially Owned                Direct (D) or           Ownership (Instr. 5)
                                     (Instr. 4)                        Indirect (I)
                                                                       (Instr. 5)
 -------------------------------- -------------------------------- ---------------------- ----------------------------------------
Common Stock                      0
 -------------------------------- -------------------------------- ---------------------- ----------------------------------------

Reminder:  Report on a separate line for each class of securities
           beneficially owned directly or indirectly.                                                                         (Over)
           (Print or Type Responses)                                                                                SEC 1473 (12-97)
</TABLE>


<PAGE>
 FORM 3 (continued)

<TABLE>
<CAPTION>

         Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
- -----------------------   -------------------------- ------------------------- ---------------- ------------------- -------------
<S>                       <C>                        <C>                       <C>              <C>                 <C>
1. Title of Derivative    2. Date Exercisable        3. Title and Amount of    4. Conversion    5.  Ownership       6. Nature of
   (Instr. 4)                and Expiration Date        Securities Underlying     or Exercise       Form of            Indirect
                             (Month/Day/Year)           Derivative Security       of Price of       Derivative         Beneficial
                                                        (Instr. 4)                Derivative        Security:          Ownership
                                                                                  Security          Direct (D)         (Instr.5)
                                                                                                    or Indirect (I)
                                                                                                    (Instr. 5)

                          ------------- --------- ------------------------

                           Date         Expiration    Title    Amount or
                           Exercisable  Date                   Number of
                                                                Shares
- ----------------------    ------------- --------- ------------ -----------    --------------   -----------------   --------------
NONE
- ----------------------    ------------- --------- ------------ -----------    --------------   -----------------   --------------

- ----------------------    ------------- --------- ------------ -----------    --------------   -----------------   --------------


Explanation of Responses:



             /s/ Riordan Roett                            June 14, 1999
    ---------------------------------------            --------------------
         **Signature of Reporting Person                       Date



**Intentional misstatements or omissions of facts constitute Federal Criminal
  Violations.
  See 18 U.S.C. and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed.  If space provided is insufficient,
      See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.                                                    Page 2
                                                                                                                    SEC 1473 (12-97)
</TABLE>



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