Exhibit 99.1

Anthracite Capital, Inc. Announces Merger
Agreement With Core Cap, Inc.

NEW YORK--(BUSINESS WIRE)--Feb. 9, 2000--Anthracite Capital, Inc. (NYSE:AHR
- - news), announced today that it has signed a definitive merger agreement
with CORE Cap, Inc. ("CORE Cap"), a privately owned mortgage real estate
investment trust that is externally managed by GMAC Mortgage Asset
Management, Inc., a subsidiary of GMAC Mortgage Corporation ("GMAC
Mortgage").

The merger agreement provides for Anthracite to acquire 100% of the
outstanding common shares of CORE Cap for common shares of Anthracite,
using an exchange ratio based upon the respective net asset values
attributable to each company's common stock. At December 31, 1999 CORE Cap
had equity capital of approximately $90 million, comprised of common stock
and $56.5 million par amount of 10% perpetual, cumulative convertible
preferred stock. CORE Cap's preferred stock would be exchanged for a new
series of Anthracite preferred stock with substantially identical terms.
The price at which the new preferred stock would convert will exceed the
GAAP book value per share of AHR common stock. At December 31, 1999 CORE
Cap had assets of approximately $1.4 billion, comprised of investment grade
quality residential loans and mortgage backed securities including Agency
securities.

Hugh Frater, President and CEO of Anthracite, said, "This transaction will
be accretive to Anthracite earnings per share in 2000 and will increase the
liquidity of the common stockholders of CORE Cap. The equity capital base
of Anthracite will increase by over 50% and better position the company to
take advantage of the compelling opportunities in the U.S. real estate debt
markets. We are pleased to welcome GMAC Mortgage as a shareholder and look
forward to an ongoing relationship with this premier real estate finance
organization."

The merger, which is structured as a taxable stock-for-stock transaction,
is expected to close in the first half of 2000, subject to the approval of
CORE Cap shareholders. The boards of directors of CORE Cap and Anthracite
have approved the merger as well as the management of the merged company by
BlackRock Financial Management, Inc., a subsidiary of BlackRock, Inc.
(NYSE:BLK - news). In connection with the transaction the board of
Anthracite would be expanded to include two current representatives of the
board of CORE Cap, including a representative of GMAC Mortgage.

The transaction includes a one-time payment of $2.15 million by the merged
company to GMAC Mortgage Asset Management in partial satisfaction of the
contractual termination provisions of the existing management agreement
with CORE Cap. In addition, BlackRock, Inc. has entered into a separate
agreement with GMAC Mortgage Asset Management, subject to the closing of
the merger, under which BlackRock would be primarily obligated to make all
other payments required to satisfy the termination provisions of their
management contract. GMAC Mortgage will continue to provide a right of
first offer on adjustable rate residential mortgage production to the
merged entity.

Anthracite was advised in this transaction by Prudential Securities
Incorporated, CORE Cap was advised by PaineWebber Incorporated, and GMAC
Mortgage Asset Management was advised by Merrill Lynch & Co.

CORE Cap acquires, holds and manages a diversified portfolio of mortgage
related assets including single-family and multi-family whole-loans and
agency securities, investment grade commercial mortgage backed securities
and related assets. CORE Cap is externally managed by GMAC Mortgage Asset
Management, a subsidiary of GMAC Mortgage. GMAC Mortgage is an indirect
wholly owned subsidiary of General Motors Acceptance Corporation (GMAC),
one of the largest financial services companies in the world.

Anthracite is a publicly traded mortgage real estate investment trust which
invests in a diversified portfolio of multi-family, commercial and
residential mortgage loans, mortgage-backed securities, and other real
estate related assets. Anthracite is externally managed by BlackRock
Financial Management, Inc., a subsidiary of BlackRock, Inc. BlackRock,
Inc., a publicly traded investment management firm based in New York City,
is majority owned by PNC Bank (NYSE:PNC - news) and manages over $165
billion in investment assets.

Safe Harbor Statement

Certain statements contained herein are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These forward looking
statements may be identified by reference to a future period(s) or by the
use of forward-looking terminology, such as "may," " will," "intend,"
"should," "expect," "anticipate," "estimate" or "continue" or the negatives
thereof or other comparable terminology. The Company's actual results could
differ materially from those anticipated in such forward-looking statements
due to a variety of factors. These factors include but are not limited to,
the demand for our products; competitive factors in the businesses in which
we compete; adverse changes in the securities markets and the availability
of and costs associated with sources of liquidity; inflation and changes in
the interest rate environment that reduce margins or the fair value of
financial instruments; changes in currency exchange rates; changes in
national, regional or local business conditions or economic environments;
government fiscal and monetary policies; legislative or regulatory changes
that affect our business; factors inherent to the valuation and pricing of
commercial loans; other factors generally understood to affect the value of
commercial loans; and the other risks detailed in the Company's periodic
reports as filed with the Securities and Exchange Commission (the "SEC") on
Forms 10-Q, 8-K and 10-K and any amendments with respect thereto filed with
the SEC; and other filings made by the Company with the SEC. The Company
does not undertake, and specifically disclaims any obligation, to release
publicly the results of any revisions which may be made to any
forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such statements.

For additional information visit our website at www.anthracitecapital.com.

Contact:

     Anthracite Capital, Inc.               Anthracite Capital, Inc.
     Hugh Frater                            Richard Shea
     President and CEO                      COO and CFO
     Tel: 212/754-5535                      Tel: 212/754-5579