SC TO-I/A

    As filed with the Securities and Exchange Commission on October 12, 2000
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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

                                  Schedule TO/A
            Tender Offer Statement under Section 14(d)(1) or 13(e)(1)
                     of the Securities Exchange Act of 1934

                                (Amendment No. 2)

                     The Latin America Investment Fund, Inc.
                       (Name of Subject Company (issuer))

                     The Latin America Investment Fund, Inc.
                 (Names of Filing Persons (offerer and issuer))

                     Common Stock, Par Value $.001 Per Share
                         (Title of Class of Securities)

                                   518279-10-4
                      (CUSIP Number of Class of Securities)

                                Hal Liebes, Esq.
                              Senior Vice President
                     The Latin America Investment Fund, Inc.
                              466 Lexington Avenue
                                   16th Floor
                            New York, New York 10017
                                 (212) 875-3500
      (Name, address, and telephone number of person authorized to receive
             notices and communications on behalf of filing persons)

                                 With a copy to:

                            Daniel Schloendorn, Esq.
                            Willkie Farr & Gallagher
                               787 Seventh Avenue
                          New York, New York 10019-6099

                            Calculation of Filing Fee

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Transaction Valuation                                       Amount of Filing Fee
- --------------------------------------------------------------------------------
$55,408,377(a).............................................     $11,082(b)
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(a)  Calculated as the aggregate maximum purchase price to be paid for 3,125,120
     shares in the offer, based upon a price per share of $17.73, which
     represents 95% of the net asset value per share at September 5, 2000.






(b)  Calculated as 1/50th of 1% of the Transaction Valuation.

[X]  Check the box if any part of the fee is offset as provided by Rule
     O-11(a)(2) and identify the filing with which the offsetting fee was
     previously paid. Identify the previous filing by registration statement
     number, or the Form or Schedule and the date of its filing.

     Amount Previously Paid: $11,082
     Form or Registration No. Schedule TO
     Filing Party: The Latin America Investment Fund, Inc.
     Date Filed: September 8, 2000

[ ]  Check the box if the filing relates solely to preliminary communications
     made before the commencement of a tender offer.

     Check the appropriate boxes below to designate any transactions to which
     the statement relates:

[ ]  third-party tender offer subject to Rule 14d-1.

[X]  issuer tender offer subject to Rule 13e-4.

[ ]  going-private transaction subject to Rule 13e-3.

[ ]  amendment to Schedule 13D under Rule 13d-2.

     Check the following box if the filing is a final amendment reporting the
     results of the tender offer: [ ]

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     This Amendment No. 2 (this "Amendment") amends and supplements the Tender
Offer Statement on Schedule TO filed by The Latin America Investment Fund, Inc.,
a Maryland corporation (the "Fund"), on September 8, 2000, as amended by
Amendment No. 1 filed by the Fund on September 18, 2000 (the "Schedule TO"),
relating to the offer by the Fund to purchase for cash up to 3,125,120 of the
Fund's issued and outstanding shares of Common Stock, par value $0.001 per
share, upon the terms and subject to the conditions set forth in the Offer to
Purchase (the "Offer to Purchase") and in the related Letter of Transmittal,
copies of which are attached as Exhibits (a)(1) and (a)(2) to the Schedule TO.

     The items required to be disclosed in the Schedule TO, which incorporate by
reference the information contained in the Offer to Purchase, are hereby amended
and supplemented as follows:

     On October 11, 2000, the Fund issued a press release announcing the
extension of the period of time during which the Offer will remain open to 5:00
p.m., Eastern time, on Monday, October 30, 2000. The full text of the Fund's
press release is attached as Exhibit (a)(9) hereto and incorporated herein by
reference.

Item 12. Exhibits.

     Item 12 of the Schedule TO is hereby amended by adding thereto the
following:

     (a)(9) Text of press release issued by the Fund on October 11, 2000.






                                    SIGNATURE

     After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

                                        THE LATIN AMERICA INVESTMENT FUND, INC.

                                        By: /s/ Hal Liebes, Esq.
                                            ------------------------------
                                        Name:  Hal Liebes, Esq.
                                        Title: Senior Vice President

Dated: October 11, 2000






                                  EXHIBIT INDEX

     (a)(9) Text of press release issued by the Fund on October 11, 2000.

EX-99.(A)(9)

The Latin America Investment Fund, Inc.
The Latin America Equity Fund, Inc.
The Emerging Markets Infrastructure Fund, Inc.
The Emerging Markets Telecommunications Fund, Inc.
466 Lexington Avenue
New York, New York 10019

Results of Shareholder Meetings; Extension of LAM Tender Offer Period

For Immediate Release

October 11 , 2000

Contact: Investor Relations
         Credit Suisse Asset Management, LLC
         1-800-293-1232

     New York, New York. The Latin America Investment Fund, Inc. (NYSE:LAM) and
The Latin America Equity Fund, Inc. (NYSE:LAQ) announced today that their
respective shareholders, at Special Meetings of Shareholders held yesterday,
have approved the previously-announced proposed merger of LAQ with and into LAM.
Concurrently with the merger, LAM, the surviving fund, will change its name to
The Latin America Equity Fund, Inc. and, as approved by LAM's shareholders,
adopt the same investment objective and policies currently followed by LAQ.

     A Special and an Annual Meeting of Shareholders of The Emerging Markets
Infrastructure Fund, Inc. (NYSE:EMG) and The Emerging Markets Telecommunications
Fund, Inc. (NYSE:ETF), respectively, were also held yesterday to consider the
proposed merger of those two funds. As previously announced, ETF is to merge
with and into EMG and, concurrently with the merger, EMG, the surviving fund,
will change its name to The Emerging Markets Telecommunications Fund, Inc. and
adopt the same investment objective and policies currently followed by ETF. The
shareholders of EMG approved the merger and the change in its investment
objective and policies effective upon the consummation of the merger. However,
as the percentage of outstanding shares of ETF voting in favor of the merger
(46.4%) was slightly less than the required majority, the ETF shareholder
meeting was adjourned, with respect to that proposal only, to Monday, October
16, 2000 at 3 p.m. New York time at the offices of Credit Suisse Asset
Management, LLC, 466 Lexington Avenue, 16th Floor, New York, New York in order
to allow for further solicitation of proxies.

     The previously announced cash self-tenders being conducted by LAM and EMG
are conditioned upon shareholder approval of the mergers and the satisfaction or
waiver






of all of the other conditions to the closings of the mergers. One of the
conditions to the merger of LAM and LAQ is the receipt of an exemptive order
from the Securities and Exchange Commission pursuant to Section 17(b) of the
Investment Company Act of 1940, as amended. It is currently anticipated that
such exemptive order will be issued in late October. Accordingly, LAM is
extending its self-tender offer, which originally had been scheduled to expire
on October 20, 2000, to 5:00 p.m., Eastern time, on Monday, October 30, 2000. At
the close of business on October 10, 2000, approximately 2,470,006 shares of LAM
had been validly tendered into the offer.

     Assuming ETF has received the requisite approval of its shareholders at the
adjourned shareholders' meeting, the delay in the shareholder approval of the
Merger will have no impact upon its self-tender offer which is still scheduled
to expire on October 20, 2000, at 5:00 p.m., Eastern time.

     The shareholders of LAM and EMG also approved new investment advisory
agreements with Credit Suisse Asset Management, LLC (CSAM), and the LAM
shareholders approved a new sub-advisory agreement with its Chilean sub-advisor,
that will become effective upon the consummation of the mergers. These
agreements incorporate existing voluntary fee waivers, implemented July 1, 2000,
pursuant to which the advisory and sub-advisory fees are calculated based upon
the lower of each fund's net asset value or share price. ETF's shareholders also
elected management's two nominees to the Board of Directors, William W. Priest
Jr. and James J. Cattano, and ratified the selection of PricewaterhouseCoopers
LLP as ETF's auditors for the current fiscal year.

     CSAM is the investment adviser to each of the Funds. CSAM is a diversified
asset manager, handling equity, fixed income, international and derivative based
accounts. As of August 31, 2000, CSAM-Americas managed approximately $71 billion
in assets.