Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC

All information is at 31 July 2011 and unaudited.

                        One     Three       Six       One     Three      Five     
                      Month    Months    Months      Year     Years     Years    
                                                                               
Net asset value       -2.3%     -3.7%     -1.7%     26.7%     17.3%     76.5%    
Share price           -2.2%     -2.9%     -1.2%     26.5%     25.1%     75.6%    

Sources: DataStream, BlackRock

At month end                                                                   
Net asset value - capital only:                    146.53p                     
Net asset value - cum income**:                    147.22p                     
Share price:                                       149.63p                     
Premium to cum income NAV:                            1.6%                     
Net Yield:                                            3.8%                     
Gearing - cum income:                                 0.6%                     
Total assets^:                                    £134.06m                   
Ordinary shares in issue:                       90,508,000                     

**includes net revenue of 0.69p.
^includes current year revenue.

                          % of Total                                 % of Total
Sector Analysis               Assets       Country Analysis              Assets
                                                                               
Integrated Oil                  26.0       Global                          21.7
Diversified                     15.4       USA                             20.9
Exploration & Production        14.7       Canada                          17.9
Copper                           8.8       Asia                            10.0
Coal                             6.5       Europe                           9.8
Oil Services                     5.9       Latin America                    8.0
Gold                             3.5       Australia                        4.5
Aluminium                        3.5       South Africa                     4.3
Iron Ore                         3.0       Africa                           1.6
Fertiliser                       2.4       China                            1.6
Nickel                           1.9       Russia                           0.2
Oil Sands                        1.9       Current liabilities            (0.5)
Zinc                             1.8                                      -----
Tin                              1.6                                      100.0
Distribution                     1.6                                      =====
Platinum                         1.3                                           
Refining & Marketing             0.7                                           
Current liabilities            (0.5)                                           
                               -----                                           
                               100.0                                           
                               =====                                           

Ten Largest Equity Investments (in alphabetical order)                         
                                                                               
Company                                   Region of Risk                       
                                                                               
Anadarko Petroleum                        USA                                  
BHP Billiton                              Global                               
Coal & Allied Industries                  Australia                            
ExxonMobil                                Global                               
Freeport McMoRan                          Asia                                 
Kumba Iron Ore                            South Africa                         
Peyto Exploration & Development           Canada                               
Rio Tinto                                 Global                               
Teck Resources                            Canada                               
Total                                     Global                               

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

Energy equities fell 2.0% (in Sterling terms) in July as the equity markets
were again hampered by the Eurozone sovereign debt crisis and an anxious run up
to the US administration's decision to raise its debt ceiling. ConocoPhillips,
the US integrated oil company, announced its decision to split its upstream and
downstream businesses into two separate, publicly traded entities. Echoing
their peer Marathon, Conoco's board and management clearly concluded that the
sum of the parts was of greater value than the whole in the current market.

M&A activity continued with BHP Billiton announcing a further move into shale
gas through the acquisition of Petrohawk. This follows the company's purchase
of assets from Chesapeake earlier this year. The deal provides BHP Billiton
with access to a large asset base where they can accelerate production growth,
as well as a strong base of technical expertise. This is a relatively large
acquisition and could prove to be a shrewd move if gas prices recover in the
long term.

In the mining markets, silver, gold and palladium were the stand out performers
as investors took flight to "safe haven" assets. The acceptance of gold as an
alternative currency has been highlighted by a number of Central Bank purchases
in the first half of 2011. In July, South Korea and Thailand both announced
they had increased their gold holdings. The metal closed the month at a new all
time high of US$1,623.6/oz.

Base metals also delivered positive returns with both zinc and nickel rising
more than 5%, while the copper price remained above US$4.40/lb, an increase of
around 20% on the average price in 2010. This is symptomatic of strong supply/
demand fundamentals in the market and suggests that the relative outlook for
copper remains positive. Elsewhere, demand for thermal coal continues to grow
in China and India, and they are increasingly turning to the seaborne market to
meet their requirements. Mining shares fell 1.6%.

15 August 2011

ENDS

Latest information is available by typing www.blackrock.co.uk/brci on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal). Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.