EXHIBIT 31.1


CERTIFICATION*
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I, Peter M. Pizza, certify that:

1.   I have  reviewed  this  Quarterly  Report on Form 10-Q for the period ended
     October 31, 2005 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)  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

     (c)  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  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 the registrant's board
     of directors:

     (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 14, 2005

/s/ Peter M. Pizza
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Peter M. Pizza,
Vice President and
Chief Financial Officer



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*  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
   Media Services, 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.  Its executive  officers  include
   James Wall,  Senior Vice  President  and Peter M. Pizza,  Vice  President and
   Chief Financial Officer, and Michael P. Duloc, who may be deemed an executive
   officer by reason of his position with Kable.

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