Exhibit 99.1


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


     ANTHRACITE CAPITAL ANNOUNCES CASH DIVIDEND OF $0.28 PER COMMON SHARE

NEW YORK, NY, March 10, 2005 - Anthracite Capital, Inc. ("Anthracite" or the
"Company") (NYSE: AHR) announced today that its Board of Directors declared a
first quarter 2005 cash dividend of $0.28 per share of common stock. The
common stock cash dividend will be payable on May 2, 2005 to stockholders of
record on March 31, 2005. The annualized dividend yield is 9.9% based upon the
$11.33 closing price of Anthracite's common stock on March 10, 2005.

The Company's Board of Directors also declared a cash dividend for the
quarterly period ending April 30, 2005 of $0.5859375 per share of Series C
Preferred Stock. The Series C Preferred Stock cash dividend will be payable on
May 2, 2005 to stockholders of record on April 10, 2005.

The members of Anthracite's Board of Directors who are not affiliated with
BlackRock Financial Management, Inc., the Company's manager (the "Manager"),
or the Manager's affiliates, approved an extension of the Company's management
agreement with the Manager for one additional year through March 31, 2006. The
terms of the extended agreement did not change.

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 $341.8 billion in global assets under management as of December
31, 2004. 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 $98.4 million in commercial mortgage loans for third
parties through its Midland Loan Services, Inc. subsidiary as of December 31,
2004.

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," potential," "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


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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, 2003
and Anthracite's subsequent reports filed 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.



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