Exhibit 99.1

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


          Anthracite Capital Issues $50 Million Senior Unsecured Notes


New York, May 29, 2007 - Anthracite Capital, Inc. ("Anthracite" or the
"Company") (NYSE:AHR) announced today the private placement of $50 million of
senior unsecured notes due in 2017. The notes bear interest at a fixed rate of
7.772% until July 2012 and thereafter at a rate equal to 3-month Libor plus
2.55%. The senior unsecured notes can be redeemed in whole by the Company
subject to certain provisions, which could include the payment of fees. The net
proceeds of this transaction will be used by the Company to finance its
commercial real estate strategies.

The notes have not been registered under the Securities Act of 1933 or any
state securities laws and may not be offered or sold in the United States
without registration or an applicable exemption from registration requirements.

This press release is neither an offer to sell nor the solicitation of an offer
to buy the notes or any other securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such an offer, solicitation
or sale is unlawful.

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. ("BlackRock") (NYSE:BLK), one of the largest
publicly traded investment management firms in the United States with
approximately $1.154 trillion in global assets under management at March 31,
2007. 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.

Forward-Looking Statements
This press release, and other statements that Anthracite may make, may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act, with respect to Anthracite's 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.




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In addition to factors previously disclosed in Anthracite's SEC reports and
those identified elsewhere in this communication, 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
BlackRock Financial Management, Inc. ("BlackRock"), Anthracite's Manager; (4)
the impact of increased competition; (5) the impact of future acquisitions or
divestitures; (6) the unfavorable resolution of legal proceedings; (7) the
impact of legislative and regulatory actions and reforms and regulatory,
supervisory or enforcement actions of government agencies relating to
Anthracite or BlackRock; (8) terrorist activities and international
hostilities, which may adversely affect the general economy, domestic and
global financial and capital markets, specific industries, and Anthracite; (9)
the ability of BlackRock to attract and retain highly talented professionals;
(10) fluctuations in foreign currency exchange rates; and (11) 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, 2006
and Anthracite's subsequent filings with the SEC, accessible on the SEC's
website at www.sec.gov, identify additional factors that can affect
forward-looking statements.

To learn more about Anthracite, visit our website at www.anthracitecapital.com.
The information contained on the Company's website is not a part of this press
release.