Anthracite Capital Inc.

Daniel C. Sontag, Director since 2009, is President of Merrill Lynch Global Wealth Management. Prior to his current role, Mr. Sontag was head of Merrill Lynch's Americas Wealth Management, responsible for the region's extensive network of more than 600 advisory offices. Before that, he was head of the Merrill Lynch Americas Client Relationship Group where he was responsible for the firm's network of advisory and private banking and investment offices across the United States and Latin America. Mr. Sontag joined Merrill Lynch in 1978 as a financial consultant in the Colorado Springs Office.

Richard M. Shea, Esq., President since 2004 and Chief Operating Officer since 1998, is also a Managing Director of the Manager. Prior to joining the Manager in 1993, Mr. Shea was an Associate Vice President and tax counsel at Prudential Securities, Inc. Mr. Shea joined Prudential in 1988 and was responsible for corporate tax planning, tax-oriented investment strategies and tax issues of CMOs and original issue discount obligations. Mr. Shea earned a B.S. degree in accounting from the State University of New York at Plattsburgh in 1981 and a J.D. degree from New York Law School in 1984.

Daniel P. Sefcik, Chief Investment Officer since 2004 and Vice President since 1998, is also a Managing Director of the Manager where his primary responsibility is committing capital of the Manager's primary real estate vehicles, the Company and Carbon Capital II, Inc., as well as various separate accounts. Since joining the Manager in early 1998, Mr. Sefcik supervised the diligence and underwriting on more than 3,000 real estate assets and resolution of all product types including multi-family, office, hotel, retail, self storage and industrial properties in connection with investments in subordinate commercial mortgage-backed securities ("CMBS"). Mr. Sefcik has also been involved in investing over $1 billion in subordinate debt. Prior to joining the Manager, Mr. Sefcik served as a Vice President for Institutional Real Estate for PNC Bank in the New York City office from 1996 to 1998. Mr. Sefcik earned his B.A. degree in Economics in 1986 from Colorado State University and a M.A. degree in Economics from Rutgers University in 1997.

"James J. Lillis, Chief Financial Officer since 2004, is also a Managing Director of the Manager. Prior to joining the Manager in 1995, Mr. Lillis was Chief Financial Officer of Barington Capital, Inc. where he was responsible for corporate financial reporting, taxation and other financial matters. Mr. Lillis earned a B.S. degree in accounting from Fordham University in 1978. "

Scott M. Amero, Director since September 2005 and nominee, is a Vice Chairman and Global Chief Investment Officer for Fixed Income of BlackRock Financial Management, Inc., the manager of the Company (the Manager ). He is a member of the Executive, Operating and Leadership Committees of the Manager. Mr. Amero is Co-Head of the Fixed Income Investment Strategy Group, which is responsible for global fixed income strategy, asset allocation and overall management of client portfolios. In this capacity, Mr. Amero coordinates the Manager s team of portfolio managers and credit analysts who specialize in government, agency, corporate, mortgage, asset-backed and structured securities worldwide. Prior to joining the Manager in 1990, Mr. Amero was a Vice President in Fixed Income Research at the First Boston Corporation. Mr. Amero joined First Boston Corporation in 1985 and became the firm s primary strategist for short-duration securities. Mr. Amero earned a B.A. degree in Applied Mathematics and Economics from Harvard University in 1985 and an M.B.A. degree in Finance from New York University in 1991.

"Frank Pomar, Director, is a member of the Real Estate team. He is responsible for credit underwriting and monitoring of all real estate debt investment accounts at BlackRock. His duties include the asset management, workouts, and restructuring of all investments in B notes, mezzanine loans and subordinate CMBS bonds and overseeing the diligence process of income-producing real estate loan collateral in connection with investments in subordinate CMBS bonds. Before joining BlackRock, Mr. Pomar was the portfolio manager of a $2.2 billion commercial real estate loan portfolio for Lend Lease Real Estate Investments and earlier, the Chief Underwriter for the PaineWebber real estate conduit. From 1992 to 1997, at PNC Bank and its predecessor, he advanced to Senior Vice President for Institutional Real Estate responsible for loan restructuring, loan sales and New York City loan originations. He began his career at Chemical Bank where he was responsible for commercial real estate restructures, foreclosures and sales and rose to vice president in its commercial real estate lending unit. Mr. Pomar earned his B.A. from Iona College and his J.D. from Fordham University School of Law "

"Herman H. Howerton, Vice President and General Counsel since 2006, is also a Managing Director at BlackRock where his responsibilities include directing and coordinating the legal affairs of BlackRock Realty. Mr. Howerton serves on the BlackRock Realty’s Management Committee and is Secretary of its Investment Committee. Mr. Howerton has 22 years of real estate experience and joined the company that is now BlackRock Realty in 1984. Mr. Howerton received a BA from California State University at Fresno and a JD from Harvard Law School. Mr. Howerton is a member of the State Bar of California. "

William S. Demchak is senior vice chairman and head of Corporate & Institutional Banking for The PNC Financial Services Group. He is responsible for PNC's middle market and large corporate businesses, as well as capital markets, real estate finance, equity management and leasing. Demchak also leads the company's asset and liability management function. In addition, he is a director of BlackRock, Inc. Before joining PNC in 2002, he served as the global head of Structured Finance and Credit Portfolio for JP Morgan Chase. Demchak also held key leadership roles at JP Morgan prior to its merger with the Chase Manhattan Corporation in 2000. He was actively involved in developing JP Morgan's strategic agenda, and was a member of the company's capital and credit risk committees. He was named head of PNC's Corporate & Institutional Banking in July 2005 and promoted to senior vice chairman in February 2009. Demchak is a member of The Financial Services Roundtable and serves on the Regulatory Management Committee. He is a board member and chairman of the Greater Pittsburgh Council of the Boy Scouts of America. In addition, he serves on the board of directors of the YMCA of Pittsburgh and the Blue Mountain Credit Alternatives Ltd. Demchak received a bachelor of science degree from Allegheny College and earned an MBA with an emphasis in accounting from the University of Michigan.

Brian T. Moynihan is president of Global Banking and Wealth Management for Bank of America. These businesses deliver industry-leading services to individuals, institutions, corporations and institutional investors in more than 150 countries. Bank of America has a leading commercial and investment bank, and the largest wealth management business in the world, with nearly 20,000 financial advisors and more than $2 trillion in total client assets. The company serves 100 percent of the Fortune 500 and 83 percent of the Fortune Global 500 and owns approximately half of BlackRock, a global leader in publicly traded investment management services. Moynihan is a member of the bank’s senior management team. Prior to his current role, Moynihan was General Counsel for the company. Before that, he was president of Global Corporate & Investment Banking, which serves client companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. Moynihan chairs Bank of America’s Global Diversity & Inclusion Council. He joined Bank of America in 2004 following the company’s merger with FleetBoston Financial, serving as president of Global Wealth and Investment Management. Moynihan joined Fleet in April 1993 as Deputy General Counsel. Moynihan is a graduate of Brown University and the University of Notre Dame Law School. He serves on the Boards of Directors of YouthBuild Boston and the Boys and Girls Clubs of Boston. He is a former Chairman of the Travelers Aid Society of Rhode Island and Providence Haitian Project, Inc.

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Deborah J. Lucas has been The Donald C. Clark/HSBC Professor of Finance at the Kellogg School of Management, Northwestern University in Evanston, Illinois, since 1996. Dr. Lucas was Chief Economist, at the Congressional Budget Office, from 2000 to 2001, Member, Social Security Technical Advisory Panel, from 1990 to 2000 and 2006 to 2007, National Federal Home Loan Bank of Chicago

Dennis D. Dammerman, 62. Chairman and Director since 2007. Mr. Dammerman retired in 2005 as vice chairman of the board and executive officer of General Electric Company and director, chairman and chief executive officer of GE Capital Services, after a nearly 40-year career with GE. He is chairman of the board of directors of Capmark Financial Group Inc. and a director of BlackRock, Inc.

Donald C. Clark Household International Distinguished Professor of Finance at Northwestern University's Kellogg School of Management since 1996. Co-editor of the Journal of Money, Credit and Banking since 2005. Chief Economist at the Congressional Budget Office from 2000 to 2001. Director of Anthracite Capital, Inc., since 2005.

Harris Oliner has served as Director and Senior Counsel of BlackRock since October 2004. Prior to joining BlackRock, Mr. Oliner served as a Senior Counsel of Comverse Technology from April 2001 to October 2004. Prior to joining Comverse Technology, Mr. Oliner was a Director of Business Development of VastVideo, Inc. from March 2000 to April 2001. From October 1997 to February 2000, Mr. Oliner served as an associate attorney at Simpson Thacher & Bartlett. Mr. Oliner received a B.A., magna cum laude, in Political Science from Yale University in 1994 and a J.D., cum laude, from Harvard Law School in 1997.

James Grosfeld, Director since 1999, a private investor, was formerly Chairman of the Board and Chief Executive Officer of Pulte Homes, Inc., a home builder and mortgage banking and financing company from 1974 to 1990.

John B. Levy, Director, is President of John B. Levy & Company, Inc., a private real estate investment banking firm founded by him in 1995 and headquartered in Richmond, Virginia. Prior to forming this firm, Mr. Levy served from 1993 as a partner in Republic Realty Mortgage Corporation, which at the time was one of the largest privately held commercial mortgage banks in the United States. In this role, Mr. Levy was responsible for nationwide business development and managed the investments of a diverse portfolio of national clients. Prior to his service with Republic, he was co-head of real estate investment banking at NationsBanc Mortgage, by which company and its predecessors he was employed from 1983 to 1993.

Kenneth B. Dunn, Director since 2005, is Dean and Professor of Financial Economics at the David A. Tepper School of Business at Carnegie Mellon University. Prior to his positions at Carnegie Mellon University, Mr. Dunn was a managing director of Morgan Stanley Investment Management and co-director of the U.S. Core Fixed Income and Mortgage Teams. Mr. Dunn also managed the fixed-income trading, technology and insurance groups within the asset management division of Miller Anderson & Sherrerd, LLP and he continued in those roles when the firm was acquired by Morgan Stanley in 1996.

Linda Gosden Robinson is a Partner and Chairman of Robinson Lerer & Montgomery. Ms. Robinson provides strategic counsel to CEOs and senior management of major corporations on a broad range of business challenges, including corporate positioning, crisis management, public policy, media outreach, and more. Ms. Robinson's clients include leaders in a wide spectrum of industries, such as healthcare, energy, Internet commerce, telecommunications, consumer products, fashion, and financial services. From 1983 to 1986, Ms. Robinson served as senior vice president of corporate affairs at Warner Cable Communications, Inc. She joined the company as part of a management turnaround team that brought the company to a position of profitability and growth. As a key advisor to the chief executive officer and a member of the operations committee, the senior policy-making body of the company, Ms. Robinson played a leading role in creating and executing communications and government affairs strategies for the company and its operating divisions. From 1981 to 1983, Ms. Robinson was director of public affairs for the U.S. Department of Transportation under Secretary Drew Lewis. As chief public spokesperson for the Department and principal staff advisor to the Secretary, her major public affairs responsibilities included the 1981 air traffic controllers' strike, Congressional passage of a gas tax, and negotiation of the agreement for Japanese voluntary import quotas on automobiles. Previously, Ms. Robinson was deputy press secretary on the 1980 Reagan-Bush campaign, and subsequently the director of public relations for the Republican National Committee, and press secretary to Committee Chairman William E. Brock. Ms. Robinson is a member of the board of directors of Revlon, Inc., and BlackRock, Inc., and trustee and Vice Chair of New York University School of Medicine Foundation Board, and trustee of NYU Hospitals Center. Ms. Robinson received a B.A. from the University of Southern California, where she graduated summa cum laude and Phi Beta Kappa.

Mathis Cabiallavetta, Director since 2007, is Former Vice Chairman, Office of the Chief Executive Officer of Marsh & McLennan Companies, Inc. (MMC), Chairman of MMC International. Mr. Cabiallavetta remains on the MMC International Advisory Board. Prior to joining MMC in 1999, Mr. Cabiallavetta was Chairman of the Board of Directors of Union Bank of Switzerland (UBS A.G.).

Walter E. Gregg Jr., Director since May 2008, was formerly Vice Chairman and Director of PNC from which he retired in 2002. Mr. Gregg served on the Board of Directors of PFPC Worldwide, Inc. and BlackRock, Inc. from 1998 to 2002. Mr. Gregg received his B.S. and J.D. degrees from the University of Pittsburgh, and is a certified public accountant.