Soil anchors are commonly used as foundation systems for structures requiring uplift resistance, such as transmission towers, or for structures requiring lateral resistance, such as sheet pile walls. To date, the design of these anchors has been largely based on empiricism. This paper applies numerical limit analysis to rigorously evaluate the stability of vertical and horizontal strip anchors in undrained clay. Rigorous bounds on the ultimate pull–out capacity are obtained by using two numerical procedures that are based on finite element formulations of the upper and lower bound theorems of limit analysis. These formulations follow standard procedure by assuming a rigid perfectly plastic clay model with a Tresca yield criterion, and generate large linear programming problems. By obtaining both upper and lower bound estimates of the pull–out capacity, the true pull–out resistance can be bracketed from above and below. Results are presented in the familiar form of break–out factors based on various soil strength profiles and geometries, and are compared with existing numerical and empirical solutions.