INDEPENDENT AUDITOR'S CONSENT




We consent to the incorporation by reference into AMREP Corporation's previously
filed  Registration  Statements  on Form S-8 Nos.  33-67114 and 333-17695 of our
report,  dated  June 13,  2003  with  respect  to the  Subscription  Fulfillment
Business of Electronic Data Systems Corporation as of December 31, 2002 and 2001
and each of the three years in the period ended  December  31, 2002  included in
this  Current  Report on Form  8-K/A  dated  July 15,  2003 to be filed with the
Securities and Exchange Commission.



/s/ McGladrey & Pullen, LLP
- ---------------------------


Davenport, Iowa
July 15, 2003


                                       1