EXHIBIT 31

                                  CERTIFICATION

I, Peter M. Pizza, certify that:

1.  I have reviewed this quarterly report on Form 10-Q of AMREP Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact  necessary to make the statements
made, in light of the  circumstances  under which such statements were made, not
misleading with respect to the period covered by this report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information included in this report, fairly present in all material respects the
financial  condition,  results of operations and cash flows of the Registrant as
of, and for, the periods presented in this report;

4.  The  Registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Registrant and have:

          (a) Designed such disclosure  controls and procedures,  or caused such
     disclosure controls and procedures to be designed under our supervision, to
     ensure that material information relating to the Registrant,  including its
     consolidated  subsidiaries,  is made  known to us by  others  within  those
     entities,  particularly  during the  period in which  this  report is being
     prepared;

          (b) [ paragraph  omitted pursuant to SEC Release Nos. 33 - 8238 and 34
     - 47986 ]

          (c)  Evaluated  the  effectiveness  of  the  Registrant's   disclosure
     controls and procedures and presented in this report our conclusions  about
     the  effectiveness of the disclosure  controls and procedures as of the end
     of the period covered by this report based on such evaluation; and

          (d) Disclosed in this report any change in the  Registrant's  internal
     control over financial reporting that occurred during the Registrant's most
     recent fiscal  quarter (the fourth fiscal  quarter in the case of an annual
     report  )  that  has  materially  affected,  or  is  reasonably  likely  to
     materially  affect,  the  Registrant's   internal  control  over  financial
     reporting; and

5. The Registrant's other certifying officers and I have disclosed, based on our
most recent  evaluation of internal  control over  financial  reporting,  to the
Registrant's auditors and the audit committee of Registrant's board of directors
(or persons performing the equivalent functions):

<PAGE>


          (a) All significant deficiencies and material weaknesses in the design
     or  operation  of  internal  control  over  financial  reporting  which are
     reasonably  likely to adversely affect the Registrant's  ability to record,
     process, summarize and report financial information; and

          (b) Any fraud,  whether or not material,  that involves  management or
     other employees who have a significant  role in the  Registrant's  internal
     control over financial reporting.




Date: December 11, 2003
                                                 /s/ Peter M. Pizza
                                                 -----------------------
                                                 Peter M. Pizza,
                                                 Vice President and
                                                 Chief Financial Officer

















<PAGE>


                                            CERTIFICATION
I, James Wall, certify that:

1. I have reviewed this quarterly report on Form 10-Q of AMREP Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact  necessary to make the statements
made, in light of the  circumstances  under which such statements were made, not
misleading with respect to the period covered by this report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information included in this report, fairly present in all material respects the
financial  condition,  results of operations and cash flows of the Registrant as
of, and for, the periods presented in this report;

4.  The  Registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Registrant and have:

          (a) Designed such disclosure  controls and procedures,  or caused such
     disclosure controls and procedures to be designed under our supervision, to
     ensure that material information relating to the Registrant,  including its
     consolidated  subsidiaries,  is made  known to us by  others  within  those
     entities,  particularly  during the  period in which  this  report is being
     prepared;

          (b) [ paragraph  omitted pursuant to SEC Release Nos. 33 - 8238 and 34
     - 47986 ]

          (c)  Evaluated  the  effectiveness  of  the  Registrant's   disclosure
     controls and procedures and presented in this report our conclusions  about
     the  effectiveness of the disclosure  controls and procedures as of the end
     of the period covered by this report based on such evaluation; and

          (d) Disclosed in this report any change in the  Registrant's  internal
     control over financial reporting that occurred during the Registrant's most
     recent fiscal  quarter (the fourth fiscal  quarter in the case of an annual
     report  )  that  has  materially  affected,  or  is  reasonably  likely  to
     materially  affect,  the  Registrant's   internal  control  over  financial
     reporting; and

5. The Registrant's other certifying officers and I have disclosed, based on our
most recent  evaluation of internal  control over  financial  reporting,  to the
Registrant's auditors and the audit committee of Registrant's board of directors
(or persons performing the equivalent functions):
<PAGE>

          (a) All significant deficiencies and material weaknesses in the design
     or  operation  of  internal  control  over  financial  reporting  which are
     reasonably  likely to adversely affect the Registrant's  ability to record,
     process, summarize and report financial information; and

          (b) Any fraud,  whether or not material,  that involves  management or
     other employees who have a significant  role in the  Registrant's  internal
     control over financial reporting.


Date: December 11, 2003
                                                 /s/ James Wall
                                                 ----------------
                                                 James Wall*

______________
*The  Registrant  is a  holding  company  which  does  substantially  all of its
business through two wholly-owned  subsidiaries (and their subsidiaries).  Those
wholly-owned  subsidiaries  are AMREP  Southwest  Inc.  ("ASW")  and Kable  News
Company,  Inc. ("Kable").  James Wall is the principal executive officer of ASW,
and Michael P. Duloc is the principal executive officer of Kable. The Registrant
has no chief executive  officer and its only executive  officers are James Wall,
Senior Vice  President and Peter M. Pizza,  Vice President and Michael P. Duloc,
who may be deemed an executive officer by reason of his position with Kable.














<PAGE>



                                            CERTIFICATION
I, Michael P. Duloc, certify that:

1. I have reviewed this quarterly report on Form 10-Q of AMREP Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact  necessary to make the statements
made, in light of the  circumstances  under which such statements were made, not
misleading with respect to the period covered by this report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information included in this report, fairly present in all material respects the
financial  condition,  results of operations and cash flows of the Registrant as
of, and for, the periods presented in this report;

4.  The  Registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Registrant and have:

          (a) Designed such disclosure  controls and procedures,  or caused such
     disclosure controls and procedures to be designed under our supervision, to
     ensure that material information relating to the Registrant,  including its
     consolidated  subsidiaries,  is made  known to us by  others  within  those
     entities,  particularly  during the  period in which  this  report is being
     prepared;

          (b) [ paragraph  omitted pursuant to SEC Release Nos. 33 - 8238 and 34
     - 47986 ]

          (c)  Evaluated  the  effectiveness  of  the  Registrant's   disclosure
     controls and procedures and presented in this report our conclusions  about
     the  effectiveness of the disclosure  controls and procedures as of the end
     of the period covered by this report based on such evaluation; and

          (d) Disclosed in this report any change in the  Registrant's  internal
     control over financial reporting that occurred during the Registrant's most
     recent fiscal  quarter (the fourth fiscal  quarter in the case of an annual
     report  )  that  has  materially  affected,  or  is  reasonably  likely  to
     materially  affect,  the  Registrant's   internal  control  over  financial
     reporting; and

5. The Registrant's other certifying officers and I have disclosed, based on our
most recent  evaluation of internal  control over  financial  reporting,  to the
Registrant's auditors and the audit committee of Registrant's board of directors
(or persons performing the equivalent functions):
<PAGE>

          (a) All significant deficiencies and material weaknesses in the design
     or  operation  of  internal  control  over  financial  reporting  which are
     reasonably  likely to adversely affect the Registrant's  ability to record,
     process, summarize and report financial information; and

          (b) Any fraud,  whether or not material,  that involves  management or
     other employees who have a significant  role in the  Registrant's  internal
     control over financial reporting.


Date: December 11, 2003
                                                 /s/ Michael P. Duloc
                                                 ---------------------
                                                 Michael P. Duloc*

______________
*The  Registrant  is a  holding  company  which  does  substantially  all of its
business through two wholly-owned  subsidiaries (and their subsidiaries).  Those
wholly-owned  subsidiaries  are AMREP  Southwest  Inc.  ("ASW")  and Kable  News
Company,  Inc. ("Kable").  James Wall is the principal executive officer of ASW,
and Michael P. Duloc is the principal executive officer of Kable. The Registrant
has no chief executive  officer and its only executive  officers are James Wall,
Senior Vice  President and Peter M. Pizza,  Vice President and Michael P. Duloc,
who may be deemed an executive officer by reason of his position with Kable.