Exhibit 99.1
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Contact: Brian Beades
212-810-5596
ahr-info@blackrock.com


         Anthracite Capital Announces $50 Million Private Placement of
                          Trust Preferred Securities


New York, February 2, 2006 - Anthracite Capital, Inc. ("Anthracite" or the
"Company") (NYSE: AHR) announced today the sale of $50 million of trust
preferred securities through its wholly owned subsidiary Anthracite Capital
Trust II in a private placement. The proceeds will be used by the Company to
continue to execute its commercial real estate strategies.

The trust preferred securities have a thirty-year term ending April 30, 2036
with interest at a fixed rate of 7.73% for the first ten years and at a
floating rate of three-month LIBOR plus 2.7% thereafter. The trust preferred
securities can be redeemed at par beginning in April 2011.

About Anthracite
Anthracite Capital, Inc. is a specialty finance company focused on investments
in high yield commercial real estate loans and related securities. Anthracite
is externally managed by BlackRock Financial Management, Inc., which is a
subsidiary of BlackRock, Inc., one of the largest publicly traded investment
management firms in the United States with approximately $453 billion in global
assets under management as of December 31, 2005. BlackRock Realty Advisors,
Inc., another subsidiary of BlackRock, provides real estate equity and other
real estate-related products and services in a variety of strategies to meet
the needs of institutional investors. BlackRock is a member of The PNC
Financial Services Group, Inc. ("PNC") (NYSE:PNC), a diversified financial
services organization. Through its affiliates, PNC originates commercial,
multifamily and residential real estate loans, and services $159 billion in
commercial mortgage loans for third parties through its Midland Loan Services,
Inc. subsidiary as of December 31, 2005.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act with respect to future financial
or business performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as "trend," "potential,"
"opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate,"
"current," "intention," "estimate," "position," "assume," "outlook,"
"continue," "remain," "maintain," "sustain," "seek," "achieve," and similar
expressions, or future or conditional verbs such as "will," "would," "should,"
"could," "may" or similar expressions. Anthracite cautions that forward-looking
statements are subject to numerous assumptions, risks and uncertainties, which
change over time. Forward-looking statements speak only as of the date they are
made, and Anthracite assumes no duty to and does not undertake to update
forward-looking statements. Actual results could differ materially from those
anticipated in forward-looking statements and future results could differ
materially from historical performance.

In addition to factors previously disclosed in Anthracite's Securities and
Exchange Commission (the "SEC") reports and those identified elsewhere in this
press release, the following factors, among others, could cause actual results
to differ materially from forward-looking statements or historical performance:
(1) the introduction, withdrawal, success and timing of business initiatives
and strategies; (2) changes in political, economic or industry conditions, the
interest rate environment or financial and capital markets, which could result
in changes in the value of Anthracite's assets; (3) the relative and absolute
investment performance and operations of Anthracite's manager; (4) the impact
of increased competition; (5) the impact of capital improvement projects; (6)
the impact of future acquisitions and divestitures; (7) the unfavorable
resolution of legal proceedings; (8) the extent and timing of any share
repurchases; (9) the impact, extent and timing of technological changes and the
adequacy of intellectual property protection; (10) the impact of legislative
and regulatory actions and reforms and regulatory, supervisory or enforcement
actions of government agencies relating to Anthracite, BlackRock or PNC; (11)
terrorist activities, which may adversely affect the general economy, real
estate, financial and capital markets, specific industries, and Anthracite and
BlackRock; (12) the ability of Anthracite's manager to attract and retain
highly talented professionals; (13) fluctuations in foreign currency exchange
rates; and (14) the impact of changes to tax legislation and, generally, the
tax position of the Company.

Anthracite's Annual Report on Form 10-K for the year ended December 31, 2004
and Anthracite's subsequent reports filed with the SEC, accessible on the SEC's
website at www.sec.gov and on Anthracite's website at
www.anthracitecapital.com, discuss these factors in more detail and identify
additional factors that can affect forward-looking statements.

To learn more about Anthracite, visit our website at www.anthracitecapital.com.