Tender Offer

Merrill Lynch Commodities Income IT
20 December 2006

Merrill Lynch Commodities Income Investment Trust plc



Tender Offer Announcement





The Board of Merrill Lynch Commodities Income Investment Trust plc announces
that it has consulted its broker UBS and a number of its shareholders regarding
the possible forthcoming tender offer as at 28 February 2007. The Board has
concluded that it will not on this occasion exercise its discretion to implement
the next tender offer. The Board is mindful of the fact that the shares have
been trading at a discount to net asset value for a relatively short period of
time and, in addition, those shareholders consulted indicated that it was
unlikely that they would wish to tender any shares.



The Board will continue to monitor the discount closely and will consider share
repurchases in the market if the discount to net asset value widens
significantly.



20 December 2006





Enquiries:



Jonathan Ruck Keene

BlackRock Investment Management (UK) Limited

Tel: [phone]



Joseph Winkley

UBS Investment Bank

Tel: [phone]



UBS Limited is acting for the Company and no one else and will not be
responsible to anyone other than the Company for providing the protections
offered to clients of UBS Limited nor for providing advice in relation to the
tender offer.


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