Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC

All information is at 31 August 2010 and unaudited.

                        One    Three       Six       One     Three     *Since   
                      Month   Months    Months      Year     Years     Launch   
                                                                               
Net asset value       -1.1%    -4.4%     -4.0%     13.6%      5.9%      50.4%    
Share price           -2.2%    -3.8%      0.5%     16.8%     12.7%      48.5%    

Sources: Datastream, BlackRock
*13 December 2005

At month end                                                                   
Net asset value - capital only:                    119.09p                     
Net asset value - cum income**:                    120.80p                     
Share price:                                       121.50p                     
Premium to NAV (capital only):                        2.0%                     
Net Yield:                                            4.6%                     
Gearing - cum income:                                 3.2%                     
Revenue per share:                                   1.71p                     
Total assets^:                                       £94.26m                   
Ordinary shares in issue:                       75,600,000                     

**Includes net revenue of 1.71p.
^includes current year revenue.

                          % of Total                                 % of Total
Sector Analysis               Assets       Country Analysis              Assets
                                                                               
Integrated Oil                  25.7       Global                          20.4
Diversified                     17.5       USA                             18.5
Exploration & Production        13.7       Canada                          17.8
Copper                           9.3       Asia                            12.3
Fertiliser                       5.6       Europe                          12.1
Coal                             5.3       Latin America                    8.5
Oil Services                     4.8       South Africa                     5.6
Gold                             3.9       Australia                        3.5
Iron Ore                         3.8       China                            1.5
Aluminium                        3.1       Africa                           1.0
Nickel                           2.5       Russia                           0.8
Zinc                             2.0       Current liabilities            (2.0)
Platinum                         1.8                                      -----
Tin                              1.6                                      100.0
Distribution                     1.4                                      =====
Current liabilities            (2.0)                                           
                               -----                                           
                               100.0                                           
                               =====                                           

Ten Largest Equity Investments (in alphabetical order)                         
                                                                               
Company                                   Region of Risk                       
                                                                               
Anadarko Petroleum                        USA                                  
BHP Billiton                              Global                               
Exxon Mobil                               Global                               
Freeport-McMoRan                          Asia                                 
Kumba Iron Ore                            South Africa                         
Niko Resources                            Asia                                 
Occidental Petroleum                      USA                                  
Potash Corp of Saskatchewan               Canada                             
Rio Tinto                                 Global                               
Vale                                      Latin America                        

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

Mixed economic data resulted in a volatile month for equity markets. Commodity
shares were broadly weaker as investors remained uneasy over the prospects of
global economic recovery. Energy shares closed the month down 2.7%, with mining
shares making a modest 0.6% gain. Base metals held up reasonably well in
August, with copper prices touching a new four-month high coming into
September. The tightness in copper supply is becoming ever more documented and
this increased focus, coupled with a strong commodity price, bodes well for
copper miners. We continue to see evidence of significant cash flow generation
at low multiples by our investments in this sector.

August was a busy month for corporate activity in the mining sector. BHP
Billiton launched an all cash bid for Potash Corporation of Saskatchewan at
US$130 a share - a 16% increase on the previous day's close. Potash Corp is, 
by capacity, the world's largest fertiliser company. The acquisition
would diversify BHP's book of business and give them exposure to a `tier one'
potash asset base. Potash Corp, which is now a top 10 holding in the Company's
portfolio, has rejected the bid. With Potash ending the month at a 13% premium 
to BHP's bid, we will closely monitor developments over the coming months.

In the energy sector, crude oil prices fell back to US$71.9/Bbl (WTI) as demand
growth expectations fell and inventories remained high. The Henry Hub natural
gas price fell by more than 20% to end the month at US$3.8/MMBTU as increased
supply continued to weigh heavily on the market. Positive reports were released
regarding the Jubilee oil project off-shore Ghana, a joint venture oil field in
which Anadarko holds a stake. This deep water project has around 85% of the
subsea installation completed indicating that it will commence production on
time by the year end. This will increase Anadarko's production by 5%. Anadarko 
is a top 10 holding in the Company's portfolio.

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).

14 September 2010