Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC

All information is at 31 May 2010 and unaudited.

Performance at month end with net income reinvested

                       One   Three      Six      One    Three    Since   
                     Month  Months   Months     Year    Years   Launch* 
                                                                              
Net asset value      -6.1%    0.4%     8.3%    27.1%     9.8%    57.4%           
Share price          -6.8%    4.5%     9.0%    26.8%    17.5%    54.3%           

Sources: Datastream, BlackRock
* 13 December 2005

At month end                                                                   
                                                                               
Net asset value - capital only:                    125.52p                     
Net asset value - cum income**:                    127.92p                     
Share price:                                       127.75p                     
Premium to NAV (capital only):                        1.8%                     
Net yield:                                            4.3%                     
Gearing - cum income:                                 1.0%                     
Revenue per share:                                   2.40p                     
Total assets^:                                     £97.35m                   
Ordinary shares in issue^^:                     75,325,662                     

**Includes net revenue of 2.40p.
^includes current year revenue.
^^excludes 274,338 shares held in tressury

                          % of Total                                 % of Total
Sector Analysis               Assets       Country Analysis              Assets
                                                                               
Integrated Oil                  26.1       USA                             21.1
Exploration & Production        16.2       Global                          18.4
Diversified                     15.9       Canada                          15.9
Copper                           9.6       Europe                          13.3
Oil Services                     5.0       Asia                            12.1
Coal                             4.7       Latin America                    9.1
Fertiliser                       4.1       South Africa                     5.9
Gold                             3.5       Australia                        2.8
Iron Ore                         3.4       China                            1.7
Aluminium                        3.3       Africa                           1.0
Platinum                         2.5       Current liabilities            (1.3)
Nickel                           2.4                                      -----
Tin                              1.7                                      100.0
Zinc                             1.5                                      =====
Distribution                     1.4                                           
Current liabilities            (1.3)                                           
                               -----                                           
                               100.0                                           
                               =====                                           

Ten Largest Equity Investments (in alphabetical order)                         
                                                                               
Company                                   Region of Risk                       
                                                                               
Anadarko Petroleum                        USA                                  
BHP Billiton                              Global                               
BP                                        Global                               
Freeport McMoRan                          Asia                                 
Kumba Iron Ore                            South Africa                         
Niko Resources                            Asia                                 
Occidental Petroleum                      USA                                  
Rio Tinto                                 Global                               
Statoil                                   Europe                               
Vale                                      Latin America                        

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

Equity markets experienced a significant sell-off during the month as concerns
about the Euro-zone debt crisis continued to spook the market. The HSBC Global
Mining Index fell 5.7%, while some of the base metals were sharply lower. These
declines appear to be driven by a shift in investor sentiment rather than any
deterioration in the underlying fundamentals. Indeed, recent economic data from
both emerging and developed markets continues to be positive. The gold price
performed well during the month rising to an all time high of US$1,249/oz as
investors continued their flight to "safe haven" assets.

Crude oil prices were down US$20/Bbl at one point before recovering to a close
of US$74/Bbl. The MSCI World Energy Index fell 7.9%. In the energy market, BP's
oil spill in the Gulf of Mexico has dominated the newsflow. At the end of May,
BP was working to connect a containment cap with the intention of capturing the
oil and gas flowing from the well. Meanwhile, two relief wells which commenced
drilling in early/mid May are estimated to be completed by August. These will
be used to plug the well. At the surface, BP has engaged more than 1,600
vessels in an effort to collect and dispose of the oil that has reached the
surface.

On 16 June, following a meeting with President Obama, BP agreed to create a
US$20 billion fund, which will be used to satisfy legitimate claims. BP also
reviewed its dividend policy and decided to cancel the previously declared
first quarter dividend. No dividends will be paid for the second and third
quarters of 2010. BP will consider resuming dividend payments in 2011.

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).

18 June 2010