FOR:       AMREP Corporation
           300 Alexander Park, Suite 204
           Princeton, New Jersey 08540

CONTACT:   Peter M. Pizza
           Vice President and Chief Financial Officer
	  (609) 716-8210
		   
		   
	AMREP Corporation Celebrates 35th Anniversary of Listing
Members of the  Executive Committee Ring The Closing BellSM at the NYSE

New York, March 12, 2007 - Directors, executives and guests from AMREP Corporation 
(NYSE: AXR) will attend the Closing Bell ceremony at the New York Stock Exchange on March 
12, 2007 at 4:00 p.m. Eastern Time to celebrate the Company's 35th anniversary of listing.  The 
Company's stock began trading on the NYSE on January 31, 1972. To celebrate this special 
occasion, the three Executive Committee members of the Board of Directors, Chairman Edward 
B. Cloues II, Vice Chairman Nicholas Karabots, and Albert Russo, will ring The Closing Bell as 
other directors, executives and guests of the Company attend.

You can connect to the NYSE website and view AMREP's March 12, 2007 Closing Bell Ringing
by clicking here.

About AMREP Corporation:
AMREP Corporation is primarily engaged in two businesses: land development and magazine  
and product service operations.

Its AMREP Southwest subsidiary is a major landholder and a leading developer of real estate in 
New Mexico. It is the founder of Rio Rancho, now the third largest city in New Mexico, where 
the focus of its current activity is on the entitlement, development and sale of land for residential,
commercial and industrial uses.

Its Kable Media Services business, which was founded in 1932, has major locations in Illinois,
Colorado, Florida, Ohio and New York City, and provides an array of magazine and product 
fulfillment and fulfillment-related services to publishers and others and distributes magazines,
both in the United States and elsewhere in the world.

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