Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc

All information is at 31 January 2015 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   -3.8%     -9.8%  -22.4%  -12.6%   -25.8%   -8.6%
Share price       -1.0%     -8.1%  -20.6%   -9.0%   -23.0%   -6.6%

Source: BlackRock

At month end

Net asset value - capital only:      83.80p
Net asset value - cum income*:       84.58p
Share price:                         88.50p
Premium to NAV (cum income):           4.6%
Net yield:                             6.8%
Gearing - cum income:                  2.4%
Total assets^^:                      £91.0m
Ordinary shares in issue**:     105,858,000
Gearing range (as a % of net assets): 0-20%
Ongoing charges***:                    1.5%

*Includes net revenue of 0.78p.

^^includes current year revenue.

** as at 16 February 2015 the number of shares in issue is 106,858,000

*** calculated as a percentage of average net assets and using expenses,
excluding any interest costs and excluding taxation for the year ended 30
November 2014.

Sector                      % Total          Country     % Total
Analysis                     Assets         Analysis      Assets

Integrated Oil                 33.6           Global               36.6
Diversified                    19.5              USA               18.4
Exploration & Production       12.3           Canada               18.3
Copper                          7.0           Europe                8.9
Gold                            6.3    Latin America                7.4
Distribution                    5.3             Asia                3.9
Nickel                          3.7           Africa                3.1
Silver                          3.5            China                2.6 
Oil Sands                       2.6        Australia                1.6
Coal                            2.6        Net current liabilities (0.8)
Oil Services                    1.2                               -----
Agriculture Science             1.2                               100.0 
Iron Ore                        1.1                               =====
Diamonds                        0.5
Fertilizers                     0.4
Net current liabilities        (0.8)
                              ----- 
                              100.0
                              =====

Ten Largest Equity Investments(in % of Total Assets order)

                                               % Total
Company             Region of Risk              Assets

ExxonMobil                  Global                 6.5
Chevron                     Global                 6.4
Rio Tinto                   Global                 5.8
Enbridge Income             Canada                 5.3
Royal Dutch Shell           Global                 4.7
BHP Billiton                Global                 4.5
ConocoPhillips                 USA                 3.5
Eni                         Europe                 3.4
Total                       Europe                 3.3
Glencore                    Global                 3.0

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

The mining and energy sectors continued to trend lower during January, with
equities relatively resilient compared to energy and mining commodities. Brent
oil and WTI oil prices continued to fall, declining by 12.9% and 10.6%
respectively, both ended the month at US$48/bbl. Henry Hub natural gas also
came under pressure falling by 10.4% over the month and finishing at US$2.68/
mmbtu. Among the industrial commodities the copper price, which had been
relatively resilient, during the fourth quarter of 2014, fell by 13% leading to
the sector's weakness. In light of commodity price moves the portfolio held up
relatively well delivering a total return of -3.8% (with dividends reinvested).
The share price declined by 1%. As at the end of January the Company's shares
were trading at a 4.7% premium to their NAV, with a net dividend yield of 6.8%.

During the month world markets were down as displayed by the -1.8% fall in the
MSCI World Index. The Eurozone was shaken by the news that the anti-austerity
party Syriza will form a coalition government in Greece and intends to reverse
many of the austerity measures currently in place. The European Central Bank
(ECB) announced the much anticipated Quantitative Easing program during the
month which offset some of the more negative economic news to some degree.
Elsewhere, China's manufacturing January PMI came in below 50, for the first
time since September 2012, whilst Janet Yellen adopted, once again, a more
dovish tone regarding the timing of a rate rise in the US. Overall, this was a
positive back-drop for gold as investors sought safe haven assets. The gold
price rose by 8.4% and the FTSE Gold Mines index by 20.5%.

Soft economic data reports from China put further pressure on the bulk
commodities during the month with iron ore down by 13.3%. The market is now
waiting until after the Chinese New Year for a better understanding of the
strength of commodity demand in 2015. During 2014 portfolio exposure to iron
ore was reduced meaningfully, given concerns over the pace of supply growth and
weakening steel demand in China. Following the 13% fall in copper, the
overweight portfolio position in copper was one of the key detractors to
performance.

We view the upcoming reporting season as a crucial moment for the sector. Our
expectation is that companies will look to further cut capital expenditure in
order to protect and grow dividends. In our view, if the major companies are
able to maintain dividends then the significant yield premium at which both
sectors currently trade, relative to the market, implies that there is downside
support for current share prices.

16 February 2015

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.