Issue of Equity

Merrill Lynch Commodities Income IT
08 December 2005


   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
                           CANADA, AUSTRALIA OR JAPAN


               MERRILL LYNCH COMMODITIES INCOME INVESTMENT TRUST PLC
(Incorporated under the Companies Act 1985 in England and Wales with registered
                                number 5612963)


  ISSUE AND ADMISSION OF 75 MILLION ORDINARY SHARES OF £0.01 EACH AT AN ISSUE
   PRICE OF 100P PER SHARE PURSUANT TO AN OFFER FOR SUBSCRIPTION AND PLACING


Merrill Lynch Commodities Income Investment Trust plc ('the Company') announces
that it has issued, subject to admission to the Official List of the Financial
Services Authority (the 'FSA') and to trading on the London Stock Exchange's
market for listed securities, 75 million Ordinary Shares.

67,857,400 Ordinary Shares have been issued pursuant to the Placing and
7,142,600 Ordinary Shares have been issued pursuant to the Offer for
Subscription.

Application has been made for the Ordinary Shares to be admitted to the Official
List of the FSA and unconditional trading on the London Stock Exchange's market
for listed securities at 8.00 a.m. on 13 December 2005.



Timetable

Unconditional dealings in Ordinary Shares commence      8am on 13 December 2005
Crediting of CREST accounts pursuant to the Issue       13 December 2005
Share certificates expected to be despatched            13 December 2005
(or as soon as practicable thereafter)




Enquiries

Merrill Lynch Investment Managers

Jonathan Ruck Keene    [phone]
Richard Davies         [phone]


UBS Limited

Will Rogers            [phone]
Sapna Shah             [phone]


This announcement is not for distribution directly or indirectly in or into the
United States, Canada, Australia or Japan.  This announcement does not
constitute an offer to sell or issue or the solicitation of an offer to buy or
acquire Ordinary Shares in the capital of Merrill Lynch Commodities Income
Investment Trust plc in the United States, Canada, Australia or Japan or any
jurisdiction in which such an offer or solicitation is unlawful.  The Ordinary
Shares in Merrill Lynch Commodities Income Investment Trust plc referred to in
this announcement have not been and will not be registered under the Securities
Act and may not be offered or sold within the United States absent registration
or an exemption from registration.  No public offering of securities will be
made in the United States, Canada or Australia or Japan.

This announcement has been communicated by Merrill Lynch Commodities Income
Investment Trust plc which is authorised and regulated in the United Kingdom by
the Financial Services Authority and does not constitute an offer to sell or a
solicitation of an offer to purchase any securities.  The price of shares and
the income from them may go down as well as up and investors may not get back
the full amount invested on disposal of the shares.  There is no guarantee that
the market price of shares in Merrill Lynch Commodities Income Investment Trust
plc will fully reflect their underlying NAV.

UBS Limited is acting exclusively for Merrill Lynch Commodities Income
Investment Trust plc and no one else in connection with the Placing and Offer
for Subscription and will not be responsible to anyone other than Merrill Lynch
Commodities Income Investment Trust plc for providing the protections afforded
to clients of UBS Limited nor for providing any advice in relation to the
Placing and Offer for Subscription or any other matters referred to in this
press announcement.


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