Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc

All information is at 31 January 2013 and unaudited.

Performance at month end with net income reinvested

                   One    Three     Six    One   Three    Five
                 Month   Months  Months   Year   Years   Years
Net asset value   4.5%     4.4%   10.3%  -3.1%   19.4%    6.6%
Share price       6.3%     2.3%   11.9%  -2.6%   18.3%   12.3%

Sources: Datastream, BlackRock

At month end
Net asset value - capital only: 123.35p
Net asset value - cum income**: 123.61p
Share price:                    125.25p
Premium to NAV (cum income):       1.3%
Net yield:                         4.7%
Gearing - cum income:              4.3%
Total assets^^:                 £121.5m
Ordinary shares in issue:    94,258,000

**Includes net revenue of 0.26p.
^^includes current year revenue.

Sector                 % Total       Country           % Total
Analysis            Cap Assets       Analysis       Cap Assets
Integrated Oil            28.6       Global               34.3
Diversified               18.7       Canada               20.6
Exploration & Production  16.7       USA                  17.6
Copper                     8.6       Latin America         9.9 
Gold                       6.9       Asia                  6.2
Oil Services               4.7       Europe                6.1
Oil Sands                  3.1       Australia             1.8
Iron Ore                   2.9       South Africa          1.8
Aluminium                  2.2       China                 1.6
Distribution               2.0       Africa                0.8
Coal                       1.6       Russia                0.2
Fertilizer                 1.2       Current liabilities  (0.9)
Tin                        1.2                           -----
Nickel                     1.1                           100.0
Platinum                   0.8                           =====
Zinc                       0.6
Current liabilities       (0.9)
                         -----
                         100.0
                         =====

Ten Largest Equity Investments(in alphabetical order)

Company                          Region of Risk

Anadarko Petroleum               USA
BHP Billiton                     Global
BP                               Global
Chevron                          Global
ENI                              Europe
ExxonMobil                       Global
Freeport-McMoran                 Asia
Peyto Exploration & Development  Canada
Rio Tinto                        Global
Total                            Global

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

Equity markets started the year with a spring in their step. US policy makers
managed to postpone the "fiscal cliff" and agreed to suspend the country's debt
ceiling which was hovering ominously above current borrowing levels. Some
encouraging economic data, particularly from China, also gave sentiment and
risk appetite a lift.

In the energy sector, Brent crude appreciated 5.3% to finish the month at
US$115.9/Bbl. The seemingly sprightlier economic environment, combined with
some production rationing from Saudi Arabia contributed to the gain. US natural
gas prices softened, by contrast: Henry Hub natural gas declined 2.2% over the
month to US$3.3/MMBTU, weighed by the unseasonably warm winter in North
America.

In the mining sector, commodity prices continued their strong run into 2013
with copper and nickel returning 2.8% and 7.5% in January respectively. Iron
ore also continued its rise, hitting a high of US$158.50/t during the month.
Purchasing Managers Index ("PMI") data in January, used as a proxy to show
industrial production, indicated that industrial output in many countries is
showing signs of improvement. Chinese PMI data was mixed: data produced by the
National Bureau of Statistics showed Chinese PMI contracting marginally to 50.4
while the data from HSBC beat market consensus by rising to 51.9. As both
indices posted PMIs above 50, indicating that industrial production in China is
expanding, this provided an optimistic outlook for the metals sector.

During the month, Rio Tinto announced write-downs of US$14bn from their
acquisitions of Riversdale and Alcan. These were combined with the news that
Tom Albanese would be replaced by Sam Walsh (previously head of the iron ore
division) as CEO. Elsewhere, Mark Cutifani (currently the CEO of AngloGold
Ashanti) was named as Cynthia Carroll's replacement as CEO of Anglo American.
The company also carried out a strategic review of its platinum business, Anglo
American Platinum, highlighting the unprofitable nature of these mature high
cost assets and placing a number of unsustainable projects into care and
maintenance. This has put 14,000 jobs at risk and resulted in a backlash from
the unions and government in South Africa adding further tensions to the South
African mining industry.

All data sourced from Datastream and quoted in US Dollars unless otherwise
stated.

20 February 2013

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.