Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC

All information is at 30 September 2009 and unaudited.

Performance at month end with net income reinvested

                         One    Three      Six       One     Since    
                       Month   Months   Months      Year    Launch*  
                                                                               
Net asset value         7.1%    22.1%    35.7%     13.6%     41.8%             
Share price             9.5%    19.4%    27.4%     13.4%     39.2%             

Sources: Datastream, BlackRock
* 13 December 2005

At month end                                                                   
                                                                               
Net asset value - capital only:                    117.14p                     
Net asset value - cum income**:                    117.70p                     
Share price:                                       117.75p                     
Discount to NAV (capital only):                      0.52%                     
Net yield:                                           4.68%                     
Gearing - cum income:                                  Nil                     
Revenue per share:                                   0.56p^                    
Total assets:                                      £88.07m^^                   
Ordinary shares in issue:                       74,825,662                     

**Includes net revenue of 0.56p.
^Revenue per share is stated after deduction of the first quarterly dividend of
1.35p which was paid on 24 April 2009, the second quarterly dividend of 1.35p 
which was paid on 24 July 2009 and the third quarterly dividend of 1.35p which 
was paid on 23 October 2009.
^^includes current year revenue.

                          % of Total                                 % of Total
Sector Analysis               Assets       Country Analysis              Assets
                                                                               
Integrated Oil                  22.5       Europe                          25.9
Diversified                     16.7       USA                             22.9
Exploration & Production        16.4       Canada                          15.7
Gold                             5.7       Asia                            11.9
Copper                           5.5       Latin America                    9.5
Oil Services                     5.5       South Africa                     7.3
Coal                             4.2       China                            1.9
Iron Ore                         4.1       Australia                        1.4
Fertiliser                       3.7       Africa                           0.8
Aluminium                        3.7       Russia                           0.8
Nickel                           2.5       India                            0.6
Platinum                         2.3       Current assets                   1.3
Tin                              2.0                                      -----
Zinc                             1.7                                      100.0
Distribution                     1.3                                      =====
Energy                           0.9                                           
Current assets                   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 Copper & Gold            Asia                                 
Kumba Iron Ore                            South Africa                         
Niko Resources                            Asia                                 
Rio Tinto                                 Global                               
StatoilHydro                              Europe                               
Total                                     Global                               
Vale                                      Latin America                        

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

Imports of commodities into China fell further in September, albeit from record
levels, suggesting that the country's restocking phase - which has been a key
driver of commodity markets this year - is coming to an end. Base metal prices
drifted lower as a result, with copper and aluminium falling 5.5% and 1.6%
respectively. In the near-term, we believe the base metal complex will be
driven by two factors: firstly, the level of "normalised" Chinese imports
following their re-stocking; and secondly, the recovery in OECD demand.
Elsewhere, precious metals were stronger in September. Gold and platinum were
up 5.7% and 3.5% respectively, while silver was the top performer with a 13.1%
return on the month. Gold prices moved back above the US$1,000/oz level for the
first time since early 2008. Renewed weakness in the US Dollar, which slipped
to a new one year low against the Euro during the month, has been a key
determinant in gold prices. The metal was also supported by longer-term
inflationary concerns.

Oil prices were slightly stronger over the course of the month, gaining 0.9%
(WTI). The natural gas price made strong gains, despite continued inventory
build, as confidence over the global industrial outlook improved and the market
began to focus on the impact of potentially colder weather over the northern
hemisphere during winter. In company news, Anadarko Petroleum announced a
deepwater discovery offshore West Africa. This recent discovery, at the Venus
exploration well offshore Sierra Leone, was at a drill depth of approximately
18,500 feet and in about 5,900 feet of water. The Venus prospect is one of more
than 30 prospects that Anadarko has in this region and is indicative of some of
the growth potential in the area.

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).

26 October 2009