Exhibit 99.1

                                                                   ANTHRACITE





Contact:     Brian Beades
             212-810-5596
             ahr-i nfo(R)blackrock. com


         Anthracite Capital Prices (euro)263.5 Million of Secured Debt


New York, November 22, 2006 - Anthracite Capital, Inc. (NYSE: AHR)
("Anthracite" or the "Company") today announced the pricing of (euro)263.5
million of non-recourse debt offered by Anthracite Euro CRE CDO 2006-1 P.L.C.
(the "CDO"). The debt will be secured by a portfolio of European commercial
mortgage-backed securities ("CMBS") and subordinated commercial real estate
loans. This debt will be privately placed, and a subsidiary of the Company will
receive 100% of the subordinated notes issued by the CDO. A portion of the
proceeds will be used to pay down debt in three of the Company's secured
financing facilities. The transaction is expected to close on December 14,
2006.

The securities to be offered by the CDO have not been and will not be
registered under the Securities Act of 1933, as amended, or any state
securities or "blue sky" laws and may not be offered or sold in the United
States absent registration or an applicable exemption from registration
requirements. This press release is not an offer to sell or a solicitation of
an offer to buy any security.

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 $1.075 trillion in global assets under management at September
30, 2006. 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. The
PNC Financial Services Group, Inc. ("PNC"), a diversified financial services
organization, is a significant shareholder of BlackRock. Through its
affiliates, PNC originates commercial, multifamily and residential real estate
loans, and services $173.7 billion in commercial mortgage loans for third
parties through its Midland Loan Services, Inc. subsidiary at September 30,
2006.


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
Anthracite's Manager; (4) the impact of increased competition; (5) the impact
of capital improvement projects; (6) the impact of future acquisitions or
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, Merrill Lynch & Co., Inc. or PNC; (11) terrorist
activities and international hostilities, which may adversely affect the
general economy, domestic and global financial and capital markets, specific
industries, and Anthracite; (12) the ability of BlackRock to attract and retain
highly talented professionals; (13) fluctuations in foreign currency exchange
rates; (14) the impact of changes to tax legislation and, generally, the tax
position of the Company; (15) the ability of BlackRock to successfully
integrate the business of Merrill Lynch Investment Managers (MLIM) with its
existing business; and (16) the ability of BlackRock to effectively manage the
former MLIM assets along with its historical assets under management.

Anthracite's Annual Report on Form 10-K for the year ended December 31, 2005
and Anthracite's subsequent reports filed with the SEC, accessible on the SEC's
website at , 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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