Interim Management Statement

BLACKROCK COMMODITIES INCOME INVESTMENT TRUSTPLC

Interim Management Statement- 3 months to 28 February 2011

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 December 2010 to
28 February 2011, 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                 2.1%      12.8%      33.1%      27.7%      100.2%
Share Price                     2.8%      11.9%      34.5%      35.3%       99.8%

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

Ten Largest Equity Holdings at 28 February 2011 (in alphabetical order)

Anadarko Petroleum
BHP Billiton
Coal & Allied Industries
ExxonMobil
Freeport McMoRan
Kumba Iron Ore
Occidental Petroleum
Rio Tinto
Southern Copper
Total

Financial position and performance as at 28 February 2011

Gross Assets (£m)*                          145.0
Short term borrowings (£m)                    4.1
Net asset value-Capital Only              154.80p
Net asset value-Including Income          155.71p
Share Price                               158.50p
Ordinary Shares in Issue               90,508,000
Actual Gearing                               2.8%
Premium to NAV-Cum Income                    1.8%
Premium to NAV-Capital Only**                2.4%

*includes net revenue of £0.8m

Material Events& Transactions

Material events or transactions, during the three months to 28 February 2011,
and from 1 March 2011 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.

Interim Dividends

The fourth interim dividend in respect of the year ended 30 November 2010 of
1.475 pence per share was declared on 9 December 2010, and paid on 21 January
2011 to shareholders on the register at the close of business on 24 December
2010.

The first interim dividend in respect of the year ending 30 November 2011 of
1.400 pence per share was declared on 15 March 2011 to be paid on 21 April 2011
to shareholders on the register at the close of business on 25 March 2011.

Tender

On 9 December 2010 the Board announced that it had decided not to proceed with
the semi-annual tender offer in February 2011.

Financial Report

The Company announced its financial results for the year ended 30 November 2010
on 20 January 2011.

Annual General Meeting

At the Company's Annual General Meeting held on Tuesday, 15 March 2011, all
resolutions were passed.

The Board is not aware of any material events or transactions, except as
disclosed herein, occurring between 1 March 2011 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]