Combine that with System.IO.Path.GetDirectoryName if all you want is the directory.

1 As per Mr.Mindor's comment:
System.Reflection.Assembly.GetExecutingAssembly().Location returns where the executing assembly is currently located, which may or may not be where the assembly is located when not executing. In the case of shadow copying assemblies, you will get a path in a temp directory. System.Reflection.Assembly.GetExecutingAssembly().CodeBase will return the 'permanent' path of the assembly.