Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc
All information is at 31 August 2014 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   1.4%     4.1%     8.8%   8.9%   -2.5%   31.4%
Share price       2.6%     6.7%     9.4%  14.1%    2.3%   38.9%

Sources: Datastream, BlackRock

At month end
Net asset value - capital only:          112.45p
Net asset value - cum income*:           114.03p
Share price:                             118.00p
Premium to NAV (cum income):                3.5%
Net yield:                                  5.1%
Gearing - cum income:                       5.0%
Total assets^^:                          £121.0m
Ordinary shares in issue:            101,458,000
Gearing range (as a % of net assets):      0-20%
Ongoing charges**                           1.4%

*Includes net revenue of 1.58p.
^^includes current year revenue.
** calculated as a percentage of average net assets and using expenses,
excluding any interest costs and excluding taxation for the year ended 30
November 2013.

Sector                 % Total  Country                 % Total
Analysis                Assets  Analysis                Assets
Integrated Oil            33.0  Global                  31.4
Diversified               16.4  Canada                  21.7
Exploration & Production  13.7  USA                     16.5
Copper                     8.3  Europe                  10.1 
Oil Sands                  5.1  Latin America            8.3
Gold                       4.6  Asia                     4.6
Oil Services               3.7  Africa                   4.0
Coal                       3.3  Australia                1.9
Distribution               3.3  China                    1.9
Iron Ore                   3.1  Current liabilities     (0.4)
Nickel                     2.2                         -----
Silver                     1.8                         100.0
Uranium                    0.8                         =====
Diamonds                   0.4
Platinum                   0.4
Fertilizers                0.3
Current liabilities       (0.4)
                         -----
                         100.0
                         =====

Ten Largest Equity Investments(in alphabetical order)

Company                          Region of Risk

BHP Billiton                     Global
Canadian Oil Sands               Canada
Chevron                          Global
ConocoPhillips                   USA
Enbridge Income                  Canada
Eni                              Europe
ExxonMobil                       Global
Freeport-McMoRan Copper & Gold   Asia
Royal Dutch Shell                Global
Statoil                          Europe

Commenting on the markets, Olivia Markham and Tom Holl, representing the
Investment Manager noted:

The divergent performance witnessed in July largely reversed during August,
with the energy sector +3.8% (MSCI World Energy Index), outperforming the
mining sector -1.1% (Euromoney Global Mining Index), resulting in a total
return for the portfolio of 1.4% (with dividends reinvested). At the end of
August the Company's shares were trading at a 3.5% premium to their NAV, with a
dividend yield of 5.1%

During the month, the Brent oil price fell by 3.4% to US$101/bbl following the
easing of supply disruptions. Despite ongoing turmoil in Libya, production
increased in August to 665,000 bbl/day, from ~150,000 bbl/day in May. The
escalation of events in the Middle East has also had little impact on exports
with the violence confined to the north and the majority of production in the
south of the country. Encouragingly, despite the weakness in near-term oil
prices, over the last six months long-term oil prices (as measured by the
futures curve) have risen. This indicates that the market expects higher oil
prices in the future and should have a positive impact on energy companies.

During the month, Enbridge Income Fund Holdings, an energy infrastructure
business was the greatest contributor to performance following solid Q2
results. The holding in BP was reduced following ongoing tensions in
Russia and BP's exposure to the country via its 19.75% holding in Rosneft.

Following a strong July, the mining sector retreated over the month as weaker
year-on-year economic data from China weighed on market sentiment. China's
official PMI fell to 51.1, down from 51.7 in July. Iron ore continued to see
sizeable sell-offs during the month -8.1%, as concerns mounted over increasing
supply and weakening demand. Iron ore equities including Fortescue detracted
from performance during the month.

A number of mining companies reported first half earnings results during the
month. Cost reductions, capital discipline and capital returns continue to be
key themes for the sector. The most notable result was from the largest
portfolio holding, BHP Billiton. The company disappointed the market by not
announcing the much talked about share buyback, instead, announcing a de-merger
of a series of non-core assets to shareholders. The demerger is not expected to
be completed until the first half of 2015 and is subject to shareholder
approval.

12 September 2014

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.