Interim Management Statement

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 August 2014

To the members of BlackRock 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 June 2014 to 31
August 2014, 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, including the latest month end announcements
are available on the Manager's website - www.blackrock.co.uk/brci.

The Company's objectives are to achieve an annual dividend target and, over the
long term, capital growth by investing primarily in securities of companies
operating in the mining and energy sectors. The lead manager is Olivia Markham
and the deputy manager Thomas Holl.

Stock Performance

Cumulative Performance (%):

                  One   Three     Six    One  Three   Five
                Month  Months  Months   Year  Years  Years
Net Asset Value  1.4%    4.1%    8.8%   8.9%  -2.5%  31.4%
Share Price      2.6%    6.7%    9.4%  14.1%   2.3%  38.9%

Sources: Datastream, BlackRock

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

Ten Largest Equity Holdings at 31 August 2014 (in alphabetical order)

BHP Billiton                       Global
Canadian Oil Sands                 Canada
Chevron                            Global
ConocoPhillips                        USA
Enbridge Income                    Canada
Eni                                Europe
ExxonMobil                         Global
Freeport-McMoRan Copper & Gold       Asia
Royal Dutch Shell                  Global
Statoil                            Europe

Financial position and performance as at 31 August 2014

Gross Assets (£m)*                      £121.0                                                                    
Short term borrowings (£m)                £5.0                                                                       
Net asset value-Capital only           112.45p                                                                     
Net asset value-Including income       114.03p               
Share Price                            118.00p               
Ordinary Shares in Issue           101,458,000                                                                 
Actual Gearing                            5.0%                  
Premium to NAV-Including income           3.5%                  
Premium to NAV-Capital only               4.9%                  
Ongoing charges (as a % of net assets)**  1.4%                                                              
Gearing range (as a % of net assets)     0-20%                                                                       

*includes current year revenue
** calculated as a percentage of average net assets and using expenses,
excluding any interest costs and excluding taxation for the year ended 30
November 2013.

Material Events & Transactions

Material events or transactions, during the three months to 31 August 2014, and
from 1 September 2014 to the date of publication of this report are set out
below. The Company was not involved in any other material transactions during
the period except for the purchase and sale of securities undertaken in the
normal course of its business.

Interim Dividends

The second interim dividend in respect of the year ending 30 November 2014 of
1.4875 pence per share was declared on 9 June 2014, and paid on 25 July 2014 to
shareholders on the register at the close of business on 20 June 2014.

The third interim dividend in respect of the year ending 30 November 2014 of
1.4875 pence per share was declared on 15 September 2014 to be paid on 24
October 2014 to shareholders on the register at the close of business on 26
September 2014.

Tender

On 9 June 2014 the Board announced that it had decided not to proceed with the
semi-annual tender offer in August 2014.

Financial Report

The Company announced its half yearly financial results for the year ended 31
May 2014 on 18 July 2014.

Issue of Shares

During the period 1 June 2014 to 31 August 2014, 450,000 ordinary shares were
issued for consideration of £523,000, before the deduction of issue costs. The
shares were issued at an average premium of 2.4% to the cum income NAV at the
close of business on the previous business day and at a premium to the
estimated cum income NAV at the time of the transaction.

Since 31 August 2014, 2,600,000 ordinary shares have been issued for
consideration of £2,775,000 before the deduction of issue costs. The shares
were issued at an average premium of 2.4% to the cum income NAV at the close of
business on the previous business day and at a premium to the estimated cum
income NAV at the time of the transaction.

Alternative Investment Fund Managers Directive ("AIFMD")

On 2 July 2014 the Company announced that with immediate effect it had entered
into arrangements necessary to ensure compliance with the AIFMD.

The Company's board of Directors ("the Board") approved the appointment of
BlackRock Fund Managers Ltd ("BFM") as the Company's alternative investment
fund manager (the "AIFM") on the terms of and subject to the conditions of a
new investment management agreement between the Company and BFM. BFM was
approved as an AIFM by the UK's Financial Conduct Authority on 1 May 2014. The
Company's existing investment management agreement between the Company and
BlackRock Investment Management (UK) Limited ("BIMUK"), which is not authorised
as an AIFM, was terminated.

The Board appointed BNY Mellon Trust & Depositary (UK) Limited (the
"Depositary") to act as the Company's depositary (as required by the AIFMD) on
the terms and subject to the conditions of a depositary agreement between the
Company, BFM and the Depositary.

BIMUK continues to act as company secretary to the Company and as the Company's
Investment Manager under a delegation agreement with BFM.

Appointment of Director

The Board of BlackRock Commodities Income Investment Trust plc is pleased to
confirm the appointment of Dr Carol Bell as an independent non-executive
director of the Company with effect from 1 December 2014. Dr Bell will also
serve as a member of the Company's Audit and Management Engagement Committee
and Nomination Committee.

Dr Bell began her career in corporate planning and business development in the
exploration and production sector at Charterhouse Petroleum and RTZ Oil & Gas.
She enjoyed a successful career in the City, as a managing director of Chase
Manhattan Bank's Global Oil & Gas Group, head of European equity research at JP
Morgan and several years as an equity research analyst in the oil and gas
sector at Credit Suisse First Boston and UBS. She is currently a non-executive
director of Petroleum Geo-Services ASA, Salamander Energy plc and two listed
holding companies of the Fred Olsen Group (Bonheur ASA and Ganger Rolf ASA), a
member of the S4C authority, the governing body of the Welsh language public
service broadcaster and a Trustee of the National Museum Wales. Dr Bell has
previously been a director of Hardy Oil & Gas plc, Det norske oljeselskap ASA
and Caracal Energy Inc. (now Glencore E&P (Canada) Inc.).

Dr Bell has no interest in the share capital of the Company.

Change in NAV and Share Price

For the period 1 September 2014 to 13 October 2014 the Company's NAV fell by 16.0%
and the share price by 16.9%. 

The Board is not aware of any material events or transactions, except as
disclosed herein, occurring between 1 September 2014 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company.

Contact details:
Kerry Higgins
Secretary
Tel: [phone]

Date: 14 October 2014

Please note more detailed performance information is available on the
Investment Manager's website: www.blackrock.co.uk/its/brci . Neither the
contents of the Manager's website nor the contents of any website accessible
from hyperlinks on the Manager's website (or any other website) is incorporated
into, or forms part of, this announcement.