Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc

All information is at 30 November 2009 and unaudited.

Performance at month end with net income reinvested

                    One     Three    Six        One     Since
                  Month    Months    Months    year    Launch*
Net asset value    5.4%      9.7%     17.4%    58.5%     45.3%
Share price        1.9%     11.4%     16.4%    74.9%     41.6%

Sources: Datastream, BlackRock
*13 December 2005

At month end
Net asset value - capital only: 119.07p
Net asset value - cum income**: 120.65p
Share price:                    119.75p
Premium to NAV (capital only):    0.57%
Net yield:                        4.60%
Gearing - cum income:               Nil
Revenue per share:               1.58p^
Total assets:                 £90.28m^^
Ordinary shares in issue:    74,825,662

**Includes net revenue of 1.58p.
^Revenue per share is stated after deduction of the first quarterly dividend of
1.35p which paid on 24 April 2009, the second quarterly dividend of 1.35p which
paid on 24 July 2009 and the third quarterly dividend of 1.35p which paid on 23
October 2009.
^^includes current year revenue.

Sector                       % Total          Country            % Total
Analysis                  Cap Assets         Analysis         Cap Assets

Integrated Oil                  23.4           Europe               24.8
Diversified                     17.1              USA               22.3
Exploration & Production        16.1           Canada               15.2
Copper                           6.1             Asia               11.6
Oil Services                     4.8     South Africa                9.3
Energy                           4.0    Latin America                8.0
Coal                             3.6            China                2.0
Gold                             3.4        Australia                1.2
Aluminium                        3.3           Russia                1.0
Fertiliser                       3.2           Africa                0.8
Iron Ore                         3.1            India                0.6
Platinum                         2.2   Current Assets                3.2
Nickel                           2.1                               -----
Zinc                             1.7                               100.0
Tin                              1.5                               =====
Distribution                     1.2
Current Assets                   3.2
                               -----
                               100.0
                               =====

Ten Largest Equity Investments(in alphabetical order)

Company                            Region of Risk
Anadarko Petroleum                            USA
BHP Billiton                               Global
BP                                         Global
Freeport McMoRan Copper & Gold               Asia
Kumba Iron Ore                       South Africa
Rio Tinto                                  Global
Sasol                                South Africa
Statoil                                    Europe
Total                                      Global
Vale                                Latin America

Commenting on the markets, Richard Davis, representing the Investment Manager
noted:

Mining equities performed well in November, with the HSBC Global Mining Index
returning 12.9%. The shares were buoyed by positive data from China showing that
factory output had increased to a 19-month high. Investors looking to hedge
inflation risks and US Dollar weakness also supported commodity prices.
Aluminium and copper prices rose 5.5% and 3.7% respectively. In the precious
metals market, gold prices made a new life time high of US$1,191/oz. The key
event during the month was the purchase by India's central bank of 200 tonnes
of gold from the IMF. While gold prices gained 12.6% in US Dollar terms, the
metal was up "only" 10.7% in Euros and 6.9% in South African Rand.

In the energy market, oil prices made slight gains over the course of the
month, finishing the period up US$77/Bbl (WTI). The natural gas price performed
slightly better than oil, gaining 4.4% to US$6.02/mcf (Henry Hub) as investors
started to digest the demand implications of the economic data released during
the month and factor in the potential for stronger consumption through the
northern hemisphere winter. In Sterling terms, mining and energy shares closed
the month up 13.4% and 2.5% respectively.

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).

23 December 2009