Investor Relations

Anthracite Capital is a specialty finance company focused on investments in high yield commercial real estate loans and related securities around the world. The company also invests opportunistically in commercial real estate. Anthracite is externally managed by a subsidiary of BlackRock, Inc., one of the largest investment management firms in the world with $1.435 trillion in global assets under management as of September 30, 2009:

• Acquiring packages of loans in the form of high yield securities
• Providing capital, on a secured basis, to owners of real estate through direct loans and participations in loans
• Investing in commercial real estate

Anthracite typically co-invests in mezzanine level debt and preferred equity through the Carbon Capital funds, private real estate debt funds managed by BlackRock.