2008-05-09 23:49:08 -

- Anthracite Capital, Inc. (NYSE:AHR) ("Anthracite" or the "Company") will report results for the first quarter of 2008 on Thursday, May 15, 2008. A teleconference call for investors and analysts will be held at 9:00 a.m. (eastern time). Christopher A. Milner, Chief Executive Officer, Richard M. Shea, President and Chief Operating Officer, and James J. Lillis, Chief Financial Officer, will

host the call. Anthracite's first quarter earnings release will be available on the Company's website, www.anthracitecapital.com, prior to the beginning of the teleconference call.

In addition, Anthracite announced today that it will file a Form 12b-25 with the Securities and Exchange Commission that extends the due date for its Form 10-Q for the quarter ended March 31, 2008. The Company adopted Statement of Financial Accounting Standards No. 159, The Fair Value Option for Financial Assets and Financial Liabilities ("FAS 159"), as of January 1, 2008. In connection with the adoption of FAS 159, the Company has elected to apply the fair value option to certain financial assets and certain financial liabilities. The Company has not previously fair valued its financial liabilities in connection with the preparation of its financial statements, whereas the Company's financial assets have always been reported at fair value. The Company has completed its initial valuation of such financial liabilities and its independent registered public accounting firm is reviewing the Company's supporting documentation. Management expects to file the Form 10-Q on May 15, 2008.

Teleconference Details

Members of the public who are interested in participating in Anthracite's first quarter earnings teleconference should dial, from the U.S., (800) 374-0176, or from outside the U.S., (706) 679-4634, shortly before 9:00 a.m. (eastern time) and reference the Anthracite Teleconference Call (number 46958036). Please note that the teleconference call will be available for replay beginning at 1:00 p.m. on Thursday, May 15, 2008, and ending at midnight on Thursday, May 22, 2008. To access the replay, callers from the U.S. should dial (800) 642-1687 and callers from outside the U.S. should dial (706) 645-9291 and enter conference identification number 46958036.

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 $1.364 trillion in global assets under management at March 31, 2008. 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.

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., 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 the Manager; (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 the Manager 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, 2007 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.

Anthracite Capital, Inc.
Lauren Trengrove, 212-810-3665
ahr-info@blackrock.com