Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC

All information is at 31 August 2011 and unaudited.

Performance at month end with income reinvested:

                         One     Three        Six      One     Three       Five     
                       Month    Months     Months     Year     Years      Years    
                                                                               
Net asset value        -7.3%     -9.2%     -10.8%    18.7%      6.9%      67.9%    
Share price           -10.1%     -9.8%     -13.6%    16.3%     10.3%      61.2%    

Sources: Datastream, BlackRock

At month end                                                                   
Net asset value - capital only:                    134.56p                     
Net asset value - cum income**:                    136.41p                     
Share price:                                       134.50p                     
Discount to NAV (capital only):                      0.04%                     
Net Yield:                                            4.2%                     
Gearing - cum income:                                 1.3%                     
Total assets^:                                    £125.11m                   
Ordinary shares in issue:                       90,508,000                     

**includes net revenue of 1.85p.
^includes current year revenue.

                          % of Total                                 % of Total
Sector Analysis               Assets       Country Analysis              Assets
                                                                               
Integrated Oil                  25.9       Global                          21.4
Diversified                     15.3       USA                             19.4
Exploration & Production        14.2       Canada                          18.4
Copper                           9.2       Europe                           9.7
Coal                             7.3       Asia                             9.6
Oil Services                     5.3       Latin America                    8.7
Gold                             4.1       South Africa                     5.2
Iron Ore                         3.8       Australia                        5.0
Aluminium                        3.1       Africa                           1.9
Fertiliser                       2.6       China                            1.6
Distribution                     1.8       Russia                           0.3
Oil Sands                        1.7       Current liabilities            (1.2)
Nickel                           1.7                                      -----
Zinc                             1.7                                      100.0
Tin                              1.6                                      =====
Platinum                         1.4                                           
Refining & Marketing             0.5                                           
Current liabilities            (1.2)                                           
                               -----                                           
                               100.0                                           
                               =====                                           

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

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

Global equity markets suffered in August, with the MSCI World Index dropping
6.5%. Mining and energy indices closed the month down 5.6% and 9.2%
respectively. The sell-off was driven in part by a lack of confidence in the
political response to solving the sovereign debt burdens in both the US and
Europe, with Standard & Poor's downgrading US long-term debt from AAA to AA+.
This coincided with a series of disappointing economic data points in these
regions exposing the fragility of the OECD recovery. It should be noted,
however, that the economic outlook for the core areas of growth in commodity
consumption; China, India and the emerging markets as a whole, remains
positive. Import data from China released over the month indicated a rise in
iron ore and copper demand and inventories were reported to be low across the
domestic supply chain. Bulk commodities such as iron ore and coal, which are
not exchange traded and thus are not impacted by speculative flows, remained
firm over the course of the month. Gold climbed to a new all time high of
US$1,911/oz.

The precarious economic situation in the developed world means that investors
are focussing on the demand side of the equation. It is worth pointing out that
the supply side has been significantly challenged so far this year across a
number of key commodities. For example, output from the world's largest copper
mine, Escondida in Chile, fell 14% in the first half compared with the same
period in 2010 due to declining ore grades and labour issues. In energy
markets, the conflict in Libya appeared to be moving towards resolution with
rebel fighters taking control of much of Gaddafi's stronghold in Tripoli. Prior
to the conflict, Libya produced 1.6mb/d, which reduced to less than 100kb/d
during the war as the international oil companies operating the fields
abandoned production. Even if there has been only limited damage to oil
infrastructure and international sanctions are swiftly removed, we estimate
that it could take up to three years before the full 1.6mb/d of production
returns, though significant amounts of oil should start flowing within 6 months
after a final cessation of violence. WTI crude oil fell back to US$88.8/Bbl,
while Brent prices (which are a better reflection of global supply-demand
dynamics) edged marginally higher to US$116.9/Bbl.

16 September 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.