Interim Management Statement

BLACKROCK COMMODITIES INCOME INVESTMENT TRUSTPLC

Interim Management Statement - 3 months to 31 August 2010

To the members of BlackRock Commodities Income Investment Trust plc

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. 
It should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 1 June 2010 to 
31 August 2010, and contains information that covers this period, and up to the
date of publication of this interim management statement. Please note more
detailed performance information, including the latest month end announcements
are available on the Manager's website-www.blackrock.co.uk/its.

The Company's objectives are to achieve an annual dividend target and, over the
long term, capital growth by investing primarily in securities of companies
operating in the mining and energy sector. The Company is managed by Richard
Davis of BlackRock.

Stock Performance

Cumulative Performance (%):
                                 One      Three        Six        One    Launch
                               Month     Months     Months       Year  13.12.05
                                                                               
Net Asset Value                -1.1%      -4.4%      -4.0%      -2.2%     50.4%
Share Price                    -2.2%      -3.8%       0.5%      -2.4%     48.5%

All performance figures are in £ on a total return basis.

Ten Largest Equity Holdings at 31 August 2010 (in alphabetical order)

Anadarko Petroleum
BHP Billiton
Exxon Mobil
Freeport McMoRan
Kumba Iron Ore
Niko Reources
Occidental Petroleum
Potash Corporation of Saskatchewan
Rio Tinto
Vale

Financial position and performance as at 31 August2010

Gross Assets (£m)*                           94.3
Short term borrowings (£m)                    2.9
Net asset value-Capital Only              119.09p
Net asset value-Including Income          120.80p
Share Price                               121.50p
Ordinary Shares in Issue**             75,600,000
Actual Gearing                               3.2%
Premium to NAV-Cum Income                    0.6%
Premium to NAV-Capital Only**                2.4%

*includes net revenue of £1.3m
**excluding treasury shares

Material Events & Transactions

Material events or transactions, during the three months to 31 August 2010, and
from 1 September 2010 to the date of publication of this report are set out
below. The Company was not involved in any other material transactions during
the period except for the purchase and sale of securities undertaken in the
normal course of its business.

Issue of Shares

On 4 June 2010 274,338 shares were sold from treasury. This generated £355,000
of additional funds for the Company. As a result of the sale, there were no
further shares held in treasury.

Interim Dividends

The second interim dividend in respect of the year ended 30 November 2010 of
1.375 pence per share was declared on 21 June 2010, and paid on 23 July 2010 to
shareholders on the register at the close of business on 2 July 2010.

The third quarterly interim dividend in respect of the year to 30 November 2010
of 1.375p per ordinary share was declared by the Directors on 14 September
2010. The dividend is payable on 22 October 2010 to holders of ordinary shares
on the register at the close of business on 24 September 2010. The ex dividend
date is 22 September 2010.

Tender

On 21 June 2010 the Board announced that it had decided not to proceed with the
semi-annual tender offer in August 2010.

Directorate Change

The Board announced the appointment of Michael Merton as an additional
non-executive director of the Company with effect from 13 July 2010.

Half Yearly Financial Report

The Company announced its half yearly financial results for the period ended 
31 May 2010 on 14 July 2010.

Proposed Issue of Equity

On 1 September 2010 it was announced that the Company intends to raise up to 
£75 million before expenses by way of a placing and an offer for subscription of
up to 75 million C Shares at an issue price of 100p per C Share, subject to
approval at a General Meeting to be held at 10.30 am on 28 September 2010. The
Board is also proposing to Shareholders that the Company continue as an
investment company.

First Special Dividend

It was announced on 14 September 2010 that in light of the Company's
accumulated revenue reserves and in addition to the interim dividend referred
to above that the Directors had also declared a first special dividend of 1.00p
per ordinary share. The first special dividend is also payable on 22 October
2010 to holders of ordinary shares on the register at the close of business on
24 September 2010. The ex dividend date is 22 September 2010. An announcement
with regard to any second special dividend (further details of which are set
out in the prospectus of the Company dated 1 September 2010) will be made in
due course.


The Board is not aware of any further material events or transactions, except
as disclosed herein, occurring between 1 June 2010 and the date of publication
of this interim management statement which would have a material impact on the
financial position of the Company.

Latest information is available by typing, www.blackrock.co.uk/its on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal).

Contact details:

Kerry Higgins
Secretary
Tel: [phone]