<ARTICLE>                                          5
<LEGEND>                                      
     (Replace this text with legend, if applicable)
</LEGEND>                                     
<CIK>                                              0000006207
<NAME>                                             AMREP CORP. 
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<PERIOD-TYPE>                                      6-MOS
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<PERIOD-END>                                       OCT-31-1996
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<DEPRECIATION>                                             (12,635)
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