Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC

All information is at 30 September 2010 and unaudited.

                       One    Three       Six       One     Three    *Since   
                     Month   Months    Months      Year     Years    Launch   
                                                                               
Net asset value       9.1%    15.6%     -4.2%     15.7%     -1.4%     64.1%    
Share price           9.6%    13.8%     -5.6%     16.9%      2.5%     62.7%    

Sources: Datastream, BlackRock
*13 December 2005

At month end                                                                   
Net asset value - capital only:                    130.34p                     
Net asset value - cum income:                      130.34p                     
Share price:                                       131.75p                     
Premium to NAV (capital only):                        1.1%                     
Net Yield:                                            4.2%                     
Gearing - cum income:                                 1.4%                     
Total assets^:                                     £99.96m                   
Ordinary shares in issue:                       75,600,000                     
C shares in issue:                              20,000,000                     

^includes current year revenue.

                          % of Total                                 % of Total
Sector Analysis               Assets       Country Analysis              Assets
                                                                               
Integrated Oil                  27.6       Global                          21.2
Diversified                     17.1       USA                             19.1
Exploration & Production        13.8       Canada                          14.9
Copper                           9.6       Europe                          14.6
Coal                             5.4       Asia                            12.1
Fertiliser                       5.1       Latin America                    7.6
Oil Services                     5.0       South Africa                     5.7
Iron Ore                         3.9       Australia                        3.6
Aluminium                        3.2       China                            1.6
Nickel                           2.6       Africa                           1.0
Zinc                             2.3       Russia                           0.8
Tin                              1.9       Current liabilities            (2.2)
Platinum                         1.8                                      -----
Distribution                     1.5                                      100.0
Gold                             1.4                                      =====
Current liabilities            (2.2)                                           
                               -----                                           
                               100.0                                           
                               =====                                           

Ten Largest Equity Investments (in alphabetical order)                         
                                                                               
Company                                   Region of Risk                       
                                                                               
Anadarko Petroleum                        USA                                  
BHP Billiton                              Global                               
Eni                                       Europe                               
Exxon Mobil                               Global                               
Freeport-McMoRan                          Asia                                 
Kumba Iron Ore                            South Africa                         
Occidental Petroleum                      USA                                  
Potash Corp of Saskatchewan               Canada                              
Rio Tinto                                 Global                               
Vale                                      Latin America                        

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

Commodity prices rallied over the month with base metals and precious metals
reporting significant gains. Among the base metals, copper and aluminium were
some of the best performers gaining 8% (in US$ terms) and 14% respectively.
These were predominantly driven by improved demand fundamentals with better
than expected industrial data announced in the US and China. In the precious
metals complex, gold prices made yet another new all time high in September.
The metal was supported by a number of reports that argued for further
quantitative easing by the central banks. These measures could further devalue
the US Dollar, which should be positive for the price of gold (and indeed all
commodities). Prices rose above the US$1,310/oz level, while silver rose above
US$22/oz to a new 30-year high. The HSBC Global Mining Index closed the month
up 10.6% (capital only in sterling terms) with the FTSE Gold Mines Index rising
2.4%.

In the energy sector, oil prices gained over 10% to close at US$80/Bbl, its
highest monthly gain since May 2009. The Henry Hub natural gas price, weighed
by increased North American shale supply, rose only 0.9% to end the month at
US$3.8/MMBTU. In equity news, BP announced the successful intercept and final
cementing of the Macondo oil well in the Gulf of Mexico. Coupled with the
implication that a dividend would be reinstated and the implementation of a new
safety regime, the announcement led to strong performance over the month for BP
shares. The MSCI World Energy Index rose 7.4% over the month.

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).

14 October 2010