Issue of Equity

For publication in the United Kingdom only. Not for release, publication or
distribution directly or indirectly, in whole or in part, in, into or from the
United States, Canada, Australia, the Republic of South Africa, Japan, Jersey
or Guernsey or into any other jurisdiction where the availability of the Issue 
would breach any applicable law.

This announcement is an advertisement and not a prospectus and investors should
not subscribe for or purchase any shares referred to in this announcement
except on the basis of information in the Prospectus published by the Company
in connection with the proposed Issue. Copies of the Prospectus are available
from the Company's registered office.

               BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC               

                          PROPOSED ISSUE OF C SHARES                           

                                      AND                                      

                            CONTINUATION RESOLUTION                            

                                      AND                                      

                           NOTICE OF GENERAL MEETING                           

1 September 2010

Introduction

The Board of BlackRock Commodities Income Investment Trust plc (the "Company")
is pleased to confirm that the Company intends to raise up to £75 million
before expenses by way of a placing (the "Placing") and an offer for
subscription (the "Offer for Subscription") of up to 75 million C Shares at an
issue price of 100p per C Share. The Board is also proposing to Shareholders
that the Company continue as an investment company.

The Continuation Resolution being put to Shareholders, as an ordinary
resolution, would otherwise have been proposed at the annual general meeting of
the Company in 2011. If the Continuation Resolution is passed, the Company will
continue indefinitely and no such further resolutions will be proposed
automatically at future annual general meetings or general meetings. The Issue
is conditional upon the passing of the Continuation Resolution.

The Company has today published a prospectus and circular convening a General
Meeting to be held at 10.30 a.m. on 28 September 2010 in respect of the Issue
and the Continuation Resolution (the "Prospectus").

Terms used in this announcement have the same meaning as set out in the
Prospectus.

Background to the Issue

Over the period from the Company's launch on 13 December 2005 to 27 August 2010
(being the latest practicable date prior to the publication of the Prospectus),
the Total Return per Ordinary Share has been 49.8 per cent (Source: the
Manager).

After due consideration, the Board has concluded that, in response to demand
from existing Shareholders and potential new investors, it is an appropriate
time to expand the Company's capital base by means of a new issue of C Shares
which should also improve market liquidity for all Shareholders.

The implementation of these Proposals will require the approval of Shareholders
at a General Meeting, convened for 10:30 a.m. on 28 September 2010 (or at any
adjournment thereof).

Special Dividends

In light of the Company's accumulated revenue reserves, the Company intends to
distribute two special dividends to Existing Shareholders in addition to any
interim dividend for the third quarter of the current financial year.

The First Special Dividend, if paid, is expected to represent a proportion of
the Group's existing revenue reserves after the declaration of any interim
dividend for the third quarter of the current financial year. The record date
for the First Special Dividend, if paid, is expected to be 24 September 2010
(being the same date as the expected record date for any such interim
dividend). The Second Special Dividend, if paid, will cover the income accruing
to holders of Ordinary Shares for the period from 1 September 2010 to the
Calculation Time for the Conversion of the C Shares. The record date for the
Second Special Dividend, if paid, is expected to be 29 October 2010.

The Board's intention to distribute the Special Dividends should not be
interpreted as a profit or dividend forecast as dividend payments by the
Company will depend on the income stream generated by the underlying
investments of the Company's investment portfolio. If paid, holders of C Shares
will not be entitled to participate in either Special Dividend. The Special
Dividends, if paid, will be paid to Shareholders on the Company's register of
members on the relevant record date in accordance with the London Stock
Exchange's dividend procedure timetable. The holders of Ordinary Shares arising
on the conversion of the C Shares will be entitled to any dividend declared,
made or paid by reference to a record date falling after the Conversion Time
paid out of the Group's accrued revenue reserves. The change in the Net Asset
Value per Ordinary Share arising from any distribution to Existing Shareholders
before the Conversion Time (e.g. due to the payment of the Interim Dividend and
/or the Special Dividends) will result in an adjustment to the C Share
conversion ratio (as more particularly described in Part IV of the Prospectus)
and, accordingly, will not have an effect on the total value for Existing
Shareholders.

Investment Outlook

In the long term the Board and the Manager believe the outlook for commodity
markets is positive. They anticipate that demand growth will be driven by the
emerging economies such as China and India as their intensity of use of
commodities rises from relatively low levels. The Board and the Manager also
believe that supply growth on the other hand will be constrained after many
years of underinvestment together with a lack of exploration success. Under
this scenario, the Board and the Manager believe that commodity prices are
likely to trend higher.

In the short term, the Manager remains reasonably cautious. The key issues that
the Manager believes are likely to influence commodity markets during the
remainder of 2010 include, amongst others, the level of Chinese imports, the
extent of the economic recovery in OECD economies and the direction of the US
dollar. In the meantime the Manager will continue to focus on making long term
investments in companies with quality assets that are in production and which
have a record of returning cash to shareholders.

Issue Costs

The Directors anticipate that the costs of the Issue will be approximately 
£1.875 million on the assumption that the Initial Gross Proceeds are £75
million, equivalent to 2.5 per cent. of the Initial Gross Proceeds. In the
event that the Initial Gross Proceeds are less than £75 million, the costs of
the Issue will be reduced proportionately. The Manager will set-off such
proportion of the expenses of the Issue as equals 0.5 per cent. of the Initial
Gross Proceeds against its future management fee and the remainder of the
expenses will be borne by the C Shareholders.

Benefits of the Placing and Offer for Subscription

The Board proposes to increase the Company's size in a responsible manner.
Accordingly, after detailed discussions with the Manager, the Board has
concluded that an issue of up to £75 million would be appropriate such that the
structure of the existing portfolio and returns should not be diluted as a
result of the proposed capital increase.

The Directors believe that the Issue will confer the following benefits on
Shareholders and the Company:

  * Diversify the investor base and improve liquidity: creating a larger
    Company by asset value with a shareholder base more broadly diversified by
    investor type, thereby facilitating secondary market liquidity;
   
  * Improvement of the Company's profile: growing the scale of the Company is
    likely to boost the Company's profile within the investor community,
    including market maker participation and research analyst coverage which
    should have a beneficial impact on liquidity;
   
  * Open access to the Company's equity: allowing those investors who would not
    otherwise have been able to invest in the Company to the extent they wish,
    to make an investment; and
   
  * Create further economies of scale via total expense ratio reduction:
    providing a larger asset base through which the fixed costs of the Company
    may be spread, thereby providing for a reduction to the Company's total
    expense ratio. The Company has estimated that a capital raising of £75m
    will produce a concomitant total expense ratio reduction of 0.17 per cent.
    assuming 2009 expense levels (adjusted to take account of the net proceeds
    of the Issue (having assumed the Issue will be fully subscribed)).
   
The Proposals also ensure, through the C Share conversion mechanism, that
Existing Shareholders will remain fully invested and not suffer any dilution
for the costs of the Proposals.

Rationale for the Continuation Resolution

The Directors believe that Shareholders should vote in favour of the
Continuation Resolution for the following reasons:

  * the Company has performed strongly since inception, offering a consistent
    progressive dividend. The dividend paid by the Company has increased each
    year since inception, and in each year the Company has distributed more
    income than it targeted;
   
  * despite the recent period of economic turmoil the Total Return per Ordinary
    Share has been 49.8 per cent since inception to 27 August 2010 (the last
    practicable date prior to the publication of the Prospectus);
   
  * the Company has met its annual dividend targets and, over the longer term,
    capital growth, by investing primarily in securities of companies operating
    in the mining and energy sectors;
   
  * in price terms, the Company has performed creditably. The market has
    attached comparable value in share price terms to the Net Asset Value per
    Ordinary Share, with the Company's average discount since inception to 27
    August 2010 (the last practicable date prior to publication of the
    Prospectus) being 0.96 per cent.;
   
  * the Company offers access to the Manager's leading energy and mining
    portfolio management capability in a tax efficient format. The natural
    resources team has over 120 years' combined experience and comes from a
    diverse mix of academic and industry backgrounds. The team's sector
    dedication and long term presence in the market continues to be a strong
    competitive advantage when analysing mining and energy companies. The team
    benefits from regular interface with management and onsite due diligence in
    addition to a proven investment strategy which combines bottom-up stock
    selection with top down macro overlay. The team also has the ability to
    leverage the wider knowledge and expertise in the natural resources sector
    of the Manager; and
   
  * the Board remains confident in the Company's ability to produce a
    progressive annual dividend and to generate consistent long-term capital
    appreciation. Moreover, the Board retains conviction in the business model
    of the Company and the advantages of an investment trust structure.
   
If the Continuation Resolution is not passed at the General Meeting the Issue
will not proceed and the Directors shall formulate proposals to be put to
Shareholders at a general meeting to be convened by the Directors to reorganise
or reconstruct the Company or to wind up the Company.

The C Shares

Net Proceeds

The Net Proceeds will be managed as a separate pool until the earlier of:

(i) the date on which 85 per cent. (or such lower percentage as the Directors
and the Manager may determine) of the Net Proceeds have been invested or
committed to be invested; and

(ii) the close of business on the date falling six months after Admission,

at which point (on the basis of the Net Asset Value per Ordinary Share
(adjusted to take the Second Special Dividend into account) and the Net Asset
Value per C Share on the Calculation Time) the Conversion Ratio for the
conversion of the C Shares into the Ordinary Shares will be calculated. Once
the Conversion Ratio has been calculated (which may take up to 30 Business Days
after the Second Special Dividend record date), the C Shares will convert into
Ordinary Shares. Please refer to the Prospectus for further details on the
conversion mechanism.

Placing and Offer for Subscription

The Placing of C Shares is being made at 100p per C Share on a non-pre-emptive
basis to investors procured by J.P. Morgan Cazenove.

The Offer for Subscription of C Shares is being made by the Company at 100p per
C Share to the public in the United Kingdom on a non-pre-emptive basis and is
subject to a minimum subscription amount of £2,000. There is no priority as
between C Shares available under the Offer for Subscription and the Placing and
the basis of allocation shall be determined by J.P. Morgan Cazenove at its
discretion.

The C Shares will not carry any rights to dividends but shall carry voting
rights.

Reasons for issuing C Shares

The Ordinary Shares arising on Conversion of the C Shares will rank pari passu
with the Ordinary Shares then in issue. The issue of further equity in the form
of C Shares is designed to overcome the potential disadvantages for both
existing and new investors which would arise out of a conventional fixed price
issue of further Ordinary Shares for cash. In particular:

  * the investments from time to time representing the proceeds of the Issue
    will be accounted for as a separate pool of assets until the Calculation
    Time, by which time it is expected they will have been at least 85 per
    cent. invested in accordance with the Company's investment policy. As a
    result, holders of existing Ordinary Shares will not be exposed to a
    portfolio containing substantial amounts of uninvested cash;
   
  * the Net Asset Value of the existing Ordinary Shares will not be diluted by
    the expenses associated with the Issue which will be borne by the Manager
    and the subscribers for C Shares; and
   
  * the basis upon which the C Shares will convert into Ordinary Shares is such
    that the number of Ordinary Shares to which C Shareholders will become
    entitled will reflect the relative investment performance and value of the
    separate pool of additional capital attributable to the C Shares (raised
    pursuant to the Issue) up to the Calculation Time as compared to the Net
    Asset Value of the existing Ordinary Shares (adjusted to take the Second
    Special Dividend into account) at that time. As a result, neither the Net
    Asset Value per Ordinary Share nor the Net Asset Value per C Share will be
    adversely affected by Conversion.
   
The full terms of the C Shares and the Conversion Ratio are set out in Part IV
of the Prospectus. Following Conversion, the investments which were
attributable to the C Shares will be merged with the Company's existing
portfolio of investments.

General Meeting

A General Meeting of the Company to approve the Proposals has been convened for
10.30 a.m. on 28 September 2010. Notice of the General Meeting is set out in
the Prospectus.

Resolution 1 is a special resolution which amends the Articles to allow the
Board to propose the Continuation Resolution at the General Meeting rather than
at the annual general meeting of the Company to be held in 2011.

Subject to the passing of Resolution 1, Resolution 2 is an ordinary resolution
and provides that the Company should continue as an investment company.

Resolution 3 is a special resolution conditional upon the passing of Resolution
2. Resolution 3 (i) adopts the New Articles which set out the rights and
restrictions attaching to the C Shares; (ii) give the Directors the authority
to allot C Shares; (iii) disapplies statutory pre-emption rights in respect of
the C Shares; and (iv) gives the Company the authority to make market purchases
of up to 14.99 per cent. of the C Shares in issue following Admission.

Expected Timetable

Latest time and date for receipt of Application     3.00 p.m. on 20 September
Forms under the Offer for Subscription*                                  2010
                                                                             
Latest time and date for receipt of Placing         3.00 p.m. on 24 September
commitments*                                                             2010
                                                                             
Expected record date for First Special Dividend             24 September 2010
on Ordinary Shares                                                           
                                                                             
General Meeting                                    10:30 a.m. on 28 September
                                                                         2010
                                                                             
Admission of C Shares to the Official List and              30 September 2010
unconditional dealings in C Shares commence                                  
                                                                             
Crediting of CREST stock accounts in respect of             30 September 2010
the C Shares                                                                 
                                                                             
Share certificates in respect of the C Shares      Week commencing 11 October
despatched                                                               2010
                                                                             
Expected Conversion Time for conversion of C                  1 November 2010
Shares to Ordinary Shares                                                    

* The Directors may, with the prior approval of J.P. Morgan Cazenove, alter
such date and thereby shorten or lengthen the offer period. In the event that
the offer period is altered, the Company will notify investors of such change
through the publication of a notice through a regulatory information service
provider to the London Stock Exchange.

The above times and/or dates may be subject to change and, in the event of such
change, the revised times and/or dates will be notified to Shareholders by an
announcement through a regulatory information service.

A copy of the Prospectus and circular has been submitted to the National
Storage Mechanism and will shortly be available for inspection at:
www.Hemscott.com/nsm.do.

Enquiries

BlackRock Investment Management (UK) Limited
Jonathan Ruck Keene/Kerry Higgins

[phone]

J.P. Morgan Cazenove 
William Simmonds

[phone]

This announcement(the "Announcement")is an advertisement and not a prospectus or
offering memorandum or an offer in respect of any securities and investors should
not subscribe for or purchase any securities referred to in this Announcement
except on the basis of information in the Prospectus which has been published
by the Company today. Copies of the Prospectus are available, subject to
certain restrictions, from the Company's registered office.

This Announcement, is not for distribution directly or indirectly in or into
the United States, Canada, Australia, the Republic of South Africa, Japan,
Guernsey or Jersey or any jurisdiction into which the same would be unlawful.
This Announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire shares in the capital of the Company
in the United States, Canada, Australia, South Africa or Japan or any
jurisdiction in which such an offer or solicitation is unlawful. The shares in
the Company referred to in this Announcement have not been and will not be
registered under the United States Securities Act of 1933, as amended
("Securities Act") and may not be offered or sold within the United States
absent registration or an exemption from registration. A public offering of
securities will be made in the United Kingdom, but not in the United States or
elsewhere.

This Announcement has been issued by and is the sole responsibility of the
Company. No representation or warranty express or implied, is or will be made
as to, or in relation to, and no responsibility or liability (whether in
negligence or otherwise) arising directly or indirectly from the use of this
document is or will be accepted by J.P. Morgan Securities Limited (which
conducts its UK investment banking activities as J.P. Morgan Cazenove) ("J.P.
Morgan Cazenove") or by any of its respective directors, officers, employees,
advisers, representatives or other agents or affiliates as to or in relation
to, the accuracy or completeness of this Announcement or any other written or
oral information made available to or publicly available to any interested
party or its advisers, and any liability therefore is expressly disclaimed.

J.P. Morgan Cazenove, which is regulated and authorised in the United Kingdom
by the FSA, is acting for the Company in connection with the Issue and no one
else and will not regard any other person (whether or not a recipient of this
Announcement) as a client in relation to the Issue and will not be responsible
to anyone other than the Company for providing the protections afforded to
clients of J.P. Morgan Cazenove, nor for providing advice in relation to the
Issue or the contents of this Announcement.

The distribution of this Announcement and the offering of the Shares in certain
jurisdictions may be restricted by law. Save in the United Kingdom, no action
has been taken by the Company or J.P. Morgan Cazenove that would permit an
offering of such shares or possession or distribution of this Announcement or
any other offering or publicity material relating to such shares in any
jurisdiction where action for that purpose is required. Persons into whose
possession this Announcement comes are required by the Company and J.P. Morgan
Cazenove to inform themselves about, and to observe, such restrictions.

Certain statements in this Announcement are forward-looking statements which
are based on the Company's, expectations, intentions, beliefs and projections
regarding, among other things, its future performance, anticipated events or
trends and other matters that are not historical facts. These statements are
not guarantees of future performance and are subject to known and unknown
risks, uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such forward-looking
statements. Given these risks and uncertainties, prospective investors are
cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements speak only as of the date of such statements and,
except as required by applicable law, the Company undertakes no obligation to
update or revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.

The price of shares and the income from them may go down as well as up and
investors may not get back the full amount invested on disposal of the shares.
Yields may vary, and are not guaranteed. There is no guarantee that the market
price of shares in the Company will fully reflect their underlying Net Asset
Value.

This Announcement should not be considered a recommendation by J.P. Morgan
Cazenove or any of its respective directors, officers, employees, advisers or
any of its affiliates in relation to any purchase of or subscription for
securities. No representation or warranty, express or implied, is given by or
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or made, such information or representations must not be relied on as having 
been authorised by the Company and J.P. Morgan Cazenove. Subject to the Listing
Rules, the Prospectus Rules and the Disclosure and Transparency Rules, the
issue of this Announcement shall not, in any circumstances, create any
implication that there has been no change in the affairs of the Company since
the date of this Announcement or that the information in it is correct as at
any subsequent date.

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any other website) is incorporated into, or forms part of, this Announcement.

This Announcement has been prepared for the purposes of complying with
applicable law and regulation in the United Kingdom and the information
disclosed may not be the same as that which would have been disclosed if this 
Announcement had been prepared in accordance with the laws and regulations of
any jurisdiction outside of the United Kingdom.