Interim Management Statement

MERRILL LYNCH COMMODITIES INCOME INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 29 February 2008

To the members of Merrill Lynch Commodities Income Investment Trust plc

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 December 2007 to
29 February 2008, and contains information that covers this period, and up to
the date of publication of this interim management statement. Please note more
detailed performance information, in particular the December 2007, January &
February 2008 month end announcements are available on the Manager's website-
www.blackrock.co.uk/its.

The Company's objectives are to achieve an annual dividend yield target and,
over the long term, capital growth by investing primarily in securities of
companies operating in the mining and energy sector. The Company is managed by
Richard Davis of BlackRock Merrill Lynch Investment Managers.

Stock Performance

Cumulative Performance (%):
                                   One      Three        One     Launch
                                 Month     Months       Year   13.12.05
Net Asset Value                  15.6%       9.1%      60.8%      88.6%
Share Price                      19.4%      14.4%      68.8%      83.8%

All performance figures are in £ on a total return basis.


Ten Largest Equity Holdings at 29 February 2008

Alcoa
BHP Billiton
Chevron
CNOOC
CVRD
Eni
Impala Platinum
Rio Tinto
Statoil
Total

Financial position and performance as at 29 February 2008

Gross Assets (£m)                           129.0
Short term borrowings (£m)                   11.4           
                                                 
Net asset value-Capital Only               168.93p
Net asset value-Including Income           170.49p
Share Price                                169.25p
Ordinary Shares in Issue*               69,610,662
                                                 
Actual Gearing                                8.9%
Premium to NAV-Cum Income                     0.0%
Premium to NAV-Capital Only*                  0.2%

*excluding treasury shares


Material Events

There were no material events during the period.


Material Transactions

On 5 March 2008, 1.2m ordinary shares were sold from treasury. The resultant
total number of ordinary shares held in treasury by the Company is 4,789,338.
The number of ordinary shares that the Company has in issue, less the total
number of ordinary shares held by the Company in treasury following this sale,
is 70,810,662.

The Board is not aware of any material events or transactions, except as
disclosed herein, occurring between 29 February 2008 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company. Latest information is
available by typing, www.blackrock.co.uk/its on the internet, "BLRKINDEX" on
Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal).

Contact details:

Barbara Powley
Secretary
Tel: [phone]

28 March 2008