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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                              (AMENDMENT NO. 2 ) *

                  BANCO LATINOAMERICANO DE EXPORTACIONES, S.A.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                    E SHARES
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    P16994132
                  --------------------------------------------
                                 (CUSIP Number)

                                December 31, 2004
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

            [X]   Rule 13d-1 (b)

            [_]   Rule 13d-1(c)

            [_]   Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the ACT
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).

SEC 1745 (3-98)



                                                                    Page 2 of 12



             
CUSIP No.            P16994132
------------------------------------------------------------------------------------------------------------------------------------

           1.  Names of Reporting Persons.         Brandes Investment Partners, L.P.
               I.R.S. Identification Nos. of above persons (entities only).        33-0704072

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

           2.  Check the Appropriate Box if a Member of a Group (See Instructions)

               (a) [_]

               (b) [_]

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

           3.  SEC Use Only

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

           4.  Citizenship or Place of Organization   Delaware

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

Number of              5.  Sole Voting Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Shares Bene-

ficially owned         6.  Shared Voting Power            1,217,513
                     ----- ----------------------------- ---------------------------------------------------------------------------
by Each

Reporting              7.  Sole Dispositive Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Person With:

                       8.  Shared Dispositive Power      1,217,513

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

           9.  Aggregate Amount Beneficially Owned by Each Reporting Person             1,217,513

          10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)              [_]

          11.  Percent of Class Represented by Amount in Row (9)         4.2%

------------------------------------------------------------------------------------------------------------------------------------
          12.  Type of Reporting Person (See Instructions)     IA, PN

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




                                                                    Page 3 of 12



            
CUSIP No.            P16994132
------------------------------------------------------------------------------------------------------------------------------------

           1.  Names of Reporting Persons.         Brandes Investment Partners, Inc.
               I.R.S. Identification Nos. of above persons (entities only).     33-0090873
               

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

           2.  Check the Appropriate Box if a Member of a Group (See Instructions)

               (a) [_]

               (b) [_]

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

           3.  SEC Use Only

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

           4.  Citizenship or Place of Organization   California

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

Number of              5.  Sole Voting Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Shares Bene-

ficially owned         6.  Shared Voting Power            1,217,513
                     ----- ----------------------------- ---------------------------------------------------------------------------
by Each

Reporting              7.  Sole Dispositive Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Person With:

                       8.  Shared Dispositive Power      1,217,513

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

           9.  Aggregate Amount Beneficially Owned by Each Reporting Person        1,217,513 shares are deemed to be beneficially
                                                                                   owned by Brandes Investment Partners, Inc., as
                                                                                   a control person of the investment adviser.
                                                                                   Brandes Investment Partners, Inc. disclaims any
                                                                                   direct ownership of the shares reported in this
                                                                                   Schedule 13G, except for an amount that is
                                                                                   substantially less than one per cent of the
                                                                                   number of shares reported herein.


          10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)      [_]

          11.  Percent of Class Represented by Amount in Row (9)            4.2%

------------------------------------------------------------------------------------------------------------------------------------
          12.  Type of Reporting Person (See Instructions)      CO, OO (Control Person)

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




                                                                    Page 4 of 12



            
CUSIP No.            P16994132
------------------------------------------------------------------------------------------------------------------------------------

           1.  Names of Reporting Persons.         Brandes Worldwide Holdings, L.P.

               I.R.S. Identification Nos. of above persons (entities only).                       33-0836630

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

           2.  Check the Appropriate Box if a Member of a Group (See Instructions)

               (a) [_]

               (b) [_]

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

           3.  SEC Use Only

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

           4.  Citizenship or Place of Organization   Delaware

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

Number of              5.  Sole Voting Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Shares Bene-

ficially owned         6.  Shared Voting Power           1,217,513
                     ----- ----------------------------- ---------------------------------------------------------------------------
by Each

Reporting              7.  Sole Dispositive Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Person With:

                       8.  Shared Dispositive Power      1,217,513

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

           9.  Aggregate Amount Beneficially Owned by Each Reporting Person            1,217,513 shares are deemed to be
                                                                                      beneficially owned by Brandes Worldwide
                                                                                      Holdings, L.P., as a control person of the
                                                                                      investment adviser.  Brandes Worldwide
                                                                                      Holdings, L.P. disclaims any direct ownership
                                                                                      of the shares reported in this Schedule 13G.

          10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)      [_]

          11.  Percent of Class Represented by Amount in Row (9)         4.2%

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

          12.  Type of Reporting Person (See Instructions)      PN, OO (Control Person)

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



                                                                    Page 5 of 12



            
CUSIP No.            P16994132
------------------------------------------------------------------------------------------------------------------------------------

           1.  Names of Reporting Persons.          Charles H. Brandes
               I.R.S. Identification Nos. of above persons (entities only).

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

           2.  Check the Appropriate Box if a Member of a Group (See Instructions)

               (a) [_]

               (b) [_]

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

           3.  SEC Use Only

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

           4.  Citizenship or Place of Organization    USA

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

Number of              5.  Sole Voting Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Shares Bene-

ficially owned         6.  Shared Voting Power           1,217,513
                     ----- ----------------------------- --------------------------------------------------------------------------
by Each

Reporting              7.  Sole Dispositive Power
                     ----- ----------------------------- --------------------------------------------------------------------------
Person With:

                       8.  Shared Dispositive Power      1,217,513

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

           9.  Aggregate Amount Beneficially Owned by Each Reporting Person            1,217,513 shares are deemed to be
                                                                                      beneficially owned by Charles H. Brandes, a
                                                                                      control person of the investment adviser.  Mr
                                                                                      Brandes disclaims any direct ownership of the
                                                                                      shares reported in this Schedule 13G, except
                                                                                      for an amount that is substantially less than
                                                                                      one per cent of the number of shares reported
                                                                                      herein.

          10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)      [_]

          11.  Percent of Class Represented by Amount in Row (9)         4.2%

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

          12.  Type of Reporting Person (See Instructions)      IN, OO (Control Person)

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



                                                                    Page 6 of 12



            
CUSIP No.            P16994132
-----------------------------------------------------------------------------------------------------------------------------------

           1.  Names of Reporting Persons.          Glenn R. Carlson
               I.R.S. Identification Nos. of above persons (entities only).

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

           2.  Check the Appropriate Box if a Member of a Group (See Instructions)

               (a) [_]

               (b) [_]

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

           3.  SEC Use Only

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

           4.  Citizenship or Place of Organization    USA

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

Number of              5.  Sole Voting Power
                     ----- ----------------------------- --------------------------------------------------------------------------
Shares Bene-

ficially owned         6.  Shared Voting Power           1,217,513
                     ----- ----------------------------- --------------------------------------------------------------------------
by Each

Reporting              7.  Sole Dispositive Power
                     ----- ----------------------------- --------------------------------------------------------------------------
Person With:

                       8.  Shared Dispositive Power      1,217,513

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

           9.  Aggregate Amount Beneficially Owned by Each Reporting Person       1,217,513 shares are deemed to be
                                                                                  beneficially owned by Glenn R. Carlson, a
                                                                                  control person of the investment adviser.  Mr.
                                                                                  Carlson disclaims any direct ownership of the
                                                                                  shares reported in this Schedule 13G, except
                                                                                  for an amount that is substantially less than
                                                                                  one per cent of the number of shares reported
                                                                                  herein.

          10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)      [_]

          11.  Percent of Class Represented by Amount in Row (9)         4.2%

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

          12.  Type of Reporting Person (See Instructions)      IN, OO (Control Person)

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



                                                                    Page 7 of 12



            
CUSIP No.            P16994132
-----------------------------------------------------------------------------------------------------------------------------------

           1.  Names of Reporting Persons.          Jeffrey A. Busby
               I.R.S. Identification Nos. of above persons (entities only).

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

           2.  Check the Appropriate Box if a Member of a Group (See Instructions)

               (a) [_]

               (b) [_]

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

           3.  SEC Use Only

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

           4.  Citizenship or Place of Organization     USA

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

Number of              5.  Sole Voting Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Shares Bene-

ficially owned         6.  Shared Voting Power           1,217,513
                     ----- ----------------------------- ---------------------------------------------------------------------------
by Each

Reporting              7.  Sole Dispositive Power
                     ----- ----------------------------- ---------------------------------------------------------------------------
Person With:

                       8.  Shared Dispositive Power      1,217,513

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

           9.  Aggregate Amount Beneficially Owned by Each Reporting Person          1,217,513 shares are deemed to be
                                                                                     beneficially owned by Jeffrey A. Busby, a
                                                                                     control person of the investment adviser.  Mr.
                                                                                     Busby disclaims any direct ownership of the
                                                                                     shares reported in this Schedule 13G, except
                                                                                     for an amount that is substantially less than
                                                                                     one per cent of the number of shares reported
                                                                                     herein.

          10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)      [_]

          11.  Percent of Class Represented by Amount in Row (9)         4.2%

------------------------------------------------------------------------------------------------------------------------------------
          12.  Type of Reporting Person (See Instructions)      IN, OO (Control Person)

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



                                                                    Page 8 of 12


Item 1(a)     Name of Issuer:

              Banco Latinoamericano de Exportaciones, S.A.

Item 1(b)     Address of Issuer's Principal Executive Offices:

              Calle 50 y Aquilino de la Guar, Apartado 6-1497 El Dorado,
              Panama City, Panama

Item 2(a)     Name of Person Filing:

              (i)    Brandes Investment Partners, L.P.

              (ii)   Brandes Investment Partners, Inc.

              (iii)  Brandes Worldwide Holdings, L.P.

              (iv)   Charles H. Brandes

              (v)    Glenn R. Carlson

              (vi)   Jeffrey A. Busby

Item 2(b)     Address of Principal Business office or, if None, Residence:

              (i)    11988 El Camino Real, Suite 500, San Diego, CA  92130

              (ii)   11988 El Camino Real, Suite 500, San Diego, CA  92130

              (iii)  11988 El Camino Real, Suite 500, San Diego, CA  92130

              (iv)   11988 El Camino Real, Suite 500, San Diego, CA  92130

              (v)    11988 El Camino Real, Suite 500, San Diego, CA  92130

              (vi)   11988 El Camino Real, Suite 500, San Diego, CA  92130


Item 2(c)     Citizenship

              (i)    Delaware

              (ii)   California

              (iii)  Delaware

              (iv)   USA

              (v)    USA

              (vi)   USA


                                                                    Page 9 of 12


Item 2(d)     Title of Class Securities:

              E Shares

Item 2(e)     CUSIP Number:

              P16994132

Item 3.       If this statement is filed pursuant to ss.ss. 240.13d-1(b), or
              240.13d-2(b) or (c), check whether the person filing is a:

              (a)    |_|  Broker or dealer registered under section 15 of the
                          Act (15 U.S.C. 78o).

              (b)    |_|  Bank as defined in section 3(a)(6) of the Act
                          (15 U.S.C. 78c).

              (c)    |_|  Insurance company as defined in section 3(a)(19) of
                          the Act (15 U.S.C. 78c).

              (d)    |_|  Investment company registered under section 8 of the
                          Investment Company Act (15 U.S.C. 80a-8).

              (e)    |_|  An investment adviser in accordance with
                          ss. 240.13d-1(b)(1)(ii)(E).

              (f)    |_|  An employee benefit plan or endowment fund in
                          accordance with ss. 240.13d-1(b)(ii)(F).

              (g)    |_|  A parent holding company or control person in
                          accordance with ss. 240.13d-1(b)(1)(ii)(G).

              (h)    |_|  A savings association as defined in Section 3(b) of
                          the Federal Deposit Insurance Act (12 U.S.C. 1813).

              (i)    |_|  A church plan that is excluded from the definition of
                          an investment company under section 3(c)(14) of the
                          Investment Company Act of 1940 (15 U.S.C. 80a-3).

              (j)    |X|  Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).

              This statement is filed by Brandes Investment Partners, L.P., an
              investment adviser registered under the Investment Advisers Act
              of 1940, its control persons and its holding company.
              (See, also, Exhibit A.)

Item 4.       Ownership:

              (a)    Amount Beneficially Owned:                       1,217,513

              (b)    Percent of Class:                                      4.2%

              (c)    Number of shares as to which the joint filers have:

                     (i)    sole power to vote or to direct the vote:         0

                     (ii)   shared power to vote or to direct the
                            vote:                                     1,217,513

                     (iii)  sole power to dispose or to direct the
                            disposition of:                                   0

                     (iv)  shared power to dispose or to direct
                           the disposition of:                        1,217,513


                                                                   Page 10 of 12


Item 5.       Ownership of Five Percent or Less of a Class.

              If this statement is being filed to report the fact that as of the
              date hereof the reporting person has ceased to be  the  beneficial
              owner of more than five percent of the class securities, check the
              following |X|.

Item 6.       Ownership of More than Five Percent on Behalf of
              Another Person.   N/A

Item 7.       Identification and Classification of the Subsidiary Which
              Acquired the Security Being Reported on By the Parent
              Holding Company.

                                       N/A

Item 8.       Identification and Classification of Members of the Group.

                                  SEE EXHIBIT A

Item 9.       Notice of Dissolution of Group.

                                       N/A

Item 10.      Certification:

              (a)    The following certification shall be included if the
                     statement is filed pursuant to ss. 240.13d-1(b):

                     By signing below I certify that, to the best of my
                     knowledge and belief, the securities referred to above were
                     acquired and held in the ordinary course of business and
                     were not acquired and are not held for the purpose of or
                     with the effect of changing or influencing the control of
                     the issuer of the securities and were not acquired and are
                     not held in connection with or as a participant in any
                     transaction having that purpose or effect.

                                    SIGNATURE

After  reasonable  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.

Date:  February 14, 2005

                               BRANDES INVESTMENT PARTNERS, L.P.


                               By: /s/ Adelaide Pund
                                    -------------------------------------
                                    Adelaide Pund as Attorney-In-Fact for
                                    Charles H. Brandes, President of
                                    Brandes Investment Partners, Inc.,
                                    its General Partner




                                                                   Page 11 of 12



                               BRANDES INVESTMENT PARTNERS, INC.


                               By:  /s/ Adelaide Pund
                                    -------------------------------------
                                    Adelaide Pund as Attorney-In-Fact for
                                    Charles H. Brandes, President


                               BRANDES WORLDWIDE HOLDINGS, L.P.

                               By:  /s/ Adelaide Pund
                                    -------------------------------------
                                    Adelaide Pund as Attorney-In-Fact for
                                    Charles H. Brandes, President of
                                    Brandes Investment Partners, Inc.,
                                    its General Partner

                               By:  /s/ Adelaide Pund
                                    -------------------------------------
                                    Adelaide Pund as Attorney-In-Fact for
                                    Charles H. Brandes, Control Person

                               By:  /s/ Adelaide Pund
                                    -------------------------------------
                                    Adelaide Pund as Attorney-In-Fact for
                                    Glenn R. Carlson, Control Person

                               By:  /s/ Adelaide Pund
                                    -------------------------------------
                                    Adelaide Pund as Attorney-In-Fact for
                                    Jeffrey A. Busby, Control Person


                                                                   Page 12 of 12


                                    EXHIBITS
                                    --------


Exhibit A is  incorporated  by  reference  to Exhibit A of Schedule 13G for 3Com
Corporation filed February 14, 2005.

Exhibit B is  incorporated  by  reference  to Exhibit B of Schedule 13G for 3Com
Corporation filed February 14, 2005.

Exhibit C is  incorporated  by  reference  to Exhibit C of Schedule 13G for 3Com
Corporation filed February 14, 2005.

Exhibit D is  incorporated  by  reference  to Exhibit D of Schedule 13G for 3Com
Corporation filed February 14, 2005.