Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC

All information is at 30 April 2010 and unaudited.

Performance at month end with net income reinvested

                       One    Three     Six      One    Three    Since   
                     Month   Months  Months     Year    Years   Launch* 
                                                                              
Net asset value      -2.1%    15.0%   21.6%    47.5%    26.7%    67.7%           
Share price          -4.0%    13.2%   19.1%    43.5%    35.5%    65.5%           

Sources: Datastream, BlackRock
* 13 December 2005

At month end                                                                   
                                                                               
Net asset value - capital only:                    135.21p                     
Net asset value - cum income**:                    136.28p                     
Share price:                                       137.00p                     
Premium to NAV (capital only):                        1.3%                     
Net yield:                                            4.0%                     
Gearing - cum income:                                 2.7%                     
Revenue per share:                                   1.07p                     
Total assets:                                      £105.47m^                   
Ordinary shares in issue:                       75,325,662                     

**Includes net revenue of 1.07p.
^includes current year revenue.

                          % of Total                                 % of Total
Sector Analysis               Assets       Country Analysis              Assets
                                                                               
Integrated Oil                  27.4       USA                             20.6
Exploration & Production        15.6       Global                          19.3
Diversified                     15.3       Canada                          13.6
Copper                           9.1       Europe                          12.9
Coal                             5.8       Asia                            12.3
Oil Services                     5.0       Latin America                    8.6
Iron Ore                         3.6       South Africa                     7.1
Aluminium                        3.2       Australia                        3.9
Gold                             3.1       China                            1.6
Fertiliser                       3.1       Africa                           1.0
Nickel                           2.8       Current liabilities            (0.9)
Platinum                         2.5                                      -----
Zinc                             1.6                                      100.0
Tin                              1.6                                      =====
Distribution                     1.2                                           
Current liabilities            (0.9)                                           
                               -----                                           
                               100.0                                           
                               =====                                           

Ten Largest Equity Investments (in alphabetical order)                         
                                                                               
Company                                   Region of Risk                       
                                                                               
Anadarko Petroleum                        Global                               
BHP Billiton                              Global                               
BP                                        Global                               
Freeport McMoRan                          Asia                                 
Kumba Iron Ore                            South Africa                         
Niko Resources                            Asia                                 
Occidental Petroleum                      USA                                  
Rio Tinto                                 Global                               
Statoil                                   Europe                               
Vale                                      Latin America                        

Commenting on the markets, Richard Davis, representing the Investment Manager
noted:

In early May, the Australian government proposed a Resources Super Profits Tax
(RSPT) following the Henry Tax Review. This tax, at a rate of 40%, will apply
to earnings from resource deposits in Australia from July 2012. This proposal
is deemed to be negative for those operating in Australia and it is likely that
the legislation will evolve before it is finalised. Before this proposal is
passed there will be stakeholder consultations and a government election which
may be instrumental in the final outcome as Australia's opposition party has
stated its resistance to the new tax. Unsurprisingly, mining share prices fell
following this news. The HSBC Global Mining Index closed the month down 1.9%.
Base metal prices were also weaker during the month. Investor concern continues
in relation to the potential impact on commodity prices of monetary tightening
in China. In the March quarter, China - the world's largest consumer of
commodities - reported economic growth of 11.9%. The Chinese government have so
far this year taken strong steps to manage the economy through increasing bank
reserve requirements.

The crude oil price finished the month up at US$86.2/Bbl after an unexpected
fall in gasoline stocks and positive economic data from the US. Shares in BP,
Transocean, Cameron International, Anadarko and Halliburton fell sharply after
the sinking of a Transocean rig working for BP in the Gulf of Mexico. The
estimated 5,000 barrels per day leak gained wide media attention as it
threatened the Louisiana coastline. At the time of writing, BP has not yet
succeeded in stopping the flow of oil to the sea's surface. The MSCI World
Energy Index gained 1.3% during the month.

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).

24 April 2010