Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc

All information is at 30 June 2014 and unaudited.

Performance at month end with net income reinvested

                     One     Three     Six     One     Three     Five
                   Month    Months  Months    Year     Years    Years

Net asset value     3.1%      6.9%    9.2%   13.7%    -12.6%    48.5%
Share price         3.9%      6.7%    6.5%   16.6%    -12.5%    47.4%

Sources: Datastream, BlackRock

At month end

Net asset value - capital only:         112.43p
Net asset value - cum income**:         112.93p
Share price:                            114.87p
Premium to NAV (cum income):               1.7%
Net yield:                                 5.2%
Gearing - cum income:                      5.4%
Total assets^^:                         £117.9m
Ordinary shares in issue*:          101,008,000
Gearing range (as a % of net assets):     0-20%

* Since 30 June 2014, the Company has issues a further 450,000 ordinary shares.

**Includes net revenue of 0.50p.

^^includes current year revenue.

Sector                    % Total                   Country    % Total
Analysis                   Assets                  Analysis     Assets

Integrated Oil               36.1                    Global       35.5
Diversified                  17.4                    Canada       20.9
Exploration & Production     11.8                       USA       15.5
Copper                        8.3                    Europe       10.9 
Oil Sands                     5.3             Latin America        8.2
Gold                          5.2                      Asia        4.5
Oil Services                  4.2                    Africa        3.5
Coal                          3.3                     China        1.9
Distribution                  2.9                 Australia        1.0          
Iron Ore                      2.3   Net current liabilities       (1.9)
Nickel                        1.9
Silver                        1.7                                -----
Uranium                       0.8                                100.0
Platinum                      0.4                                =====
Fertilizers                   0.3
Net current liabilities      (1.9)
                            -----
                            100.0
                            =====

Ten Largest Equity Investments(in alphabetical order)

Company                   Region of Risk

BHP Billiton                      Global
BP                                Global
Canadian Oil Sands                Canada
Chevron                           Global
Eni                               Europe
ExxonMobil                        Global
Freeport-McMoran Copper & Gold      Asia
Rio Tinto                         Global
Royal Dutch Shell                 Global
Statoil                           Europe

Commenting on the markets, Olivia Markham and Tom Holl, representing the
Investment Manager noted:

Solid performance for both the mining and energy sectors during June, with the
mining sector +2.9% (Euromoney Global Mining Index), and the energy sector
+2.6% (MSCI World Energy Index), resulted in a total return for the portfolio
of 3.1% (with dividends reinvested). At the end of June the Company's shares
were trading at a 1.7% premium to their NAV, with a yield of 5.2%.

The rapid escalation of violence in Iraq put upward pressure on the Brent oil
price (+1.5% to US$111/bbl) and highlighted the fragile state of Iraq's
security structure. Iraq is a meaningful oil producer, exporting 3.3 million
barrels per day which accounts for approximately 4% of global supply.
Currently, the violence has not had any significant impact on exports and in
our view substantial disruptions remain unlikely at this stage. Unrest also
continued in Ukraine where President Petro Poroshenko ended a 10-day ceasefire
with pro-Russian separatists, stating "we will attack and liberate our land."

The mining sector was spurred by a consecutive positive month for the base
metals sector with copper, aluminium and zinc rising by +2%, +3% and +8%
respectively in June. Nickel, +37% year-to-date, was the only laggard -1% during
the month as investors awaited the outcome of the Indonesian elections and
subsequently the longevity of the current export ban. Iron ore remains the key
detractor for the sector with investors focused on increased supply and
weakening domestic Chinese steel demand year-to-date. The iron ore price
continued to come under pressure during June. However we saw some recovery
during the final days of the month as inventories held at steel mills reached 2
year lows. Iron ore finished the month at $94.90/t (62% Fe), representing a
+3.4% rise over the previous month.

Precious metals posted another strong month during June with gold +5.8% and
silver +9.8% respectively. There were a number of supportive factors
underpinning gold, firstly escalating tensions in Iraq (which also buoyed the
oil price) and drove some safe haven buying, as well as more dovish comments
from the Chair of the US Federal Reserve on the timing and trajectory of US
interest rate changes. The portfolio holding in Eldorado Gold contributed to
performance during the month following a positive decision on the expansion of
its Kisladag open pit mine in Turkey.

16 July 2014

ENDS

Latest information is available by typing www.blackrock.co.uk/brci on the
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terminal). Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.