Dividend Declaration and Outlook

BlackRock Commodities Income Investment Trust plc

Changes to dividend declaration and outlook, management fees and periodic tender offer

Dividend declaration and outlook

The Board of BlackRock Commodities Income Investment Trust plc is pleased to announce that the fourth quarterly interim dividend in respect of the financial year ended 30 November 2015 of 1.50 pence per ordinary share has been declared by the Directors. The dividend is payable on 22 January 2016 to holders of ordinary shares on the register at the close of business on 29 December 2015 (the ex dividend date is 24 December 2015).

The last year has been a difficult period for commodity markets and, against this backdrop, the Board is pleased to have been able to meet the dividend target for the year of 6.00 pence per share.  The Board has set a target of an unchanged 6.00 pence per share dividend for the current financial year in light of current conditions in the commodity markets, volatility levels in the derivative markets and dividend prospects for the Company’s underlying investments.  This target will be reviewed should there be any material change in these factors.  However, the Board would consider using revenue reserves or making distributions out of capital profits to bolster the dividend were income from the portfolio to be insufficient to achieve the target.

Changes to management fees

The Board of BlackRock Commodities Income Investment Trust plc (the ‘Company’) announces that, following discussions with its Manager, BlackRock Fund Managers Limited (‘BlackRock’), it has agreed a reduction to its management fee.  The existing management fee is 1.1% of gross assets per annum. With effect from 1 December 2015, the management fee will be 0.95% of the Company’s gross assets per annum and will reduce to 0.90% per annum for gross assets in excess of £250 million. Where the Company invests in other investments or cash funds managed by BlackRock, any underlying fee is rebated.

Periodic tender offer

The Board of BlackRock Commodities Income Investment Trust plc (the "Company") today announces its decision not to proceed with a semi-annual tender offer in February 2016. Over the six month period to 30 November 2015, the Company's shares traded at an average premium to Net Asset Value ('NAV') of 2.1%. Given that this is better than a discount of 2% to NAV, the price at which any tender offer would be made, the Board has concluded that it is not in the interests of shareholders to implement the tender offer as at 28 February 2016.

Mark Johnson
BlackRock Investment Management (UK) Limited
Telephone: [phone]

Kerry Higgins
BlackRock Investment Management (UK) Limited, Secretary
Telephone: [phone]

17 December 2015