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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000006207-04-000031.txt : 20040924
<SEC-HEADER>0000006207-04-000031.hdr.sgml : 20040924
<ACCEPTANCE-DATETIME>20040924135156
ACCESSION NUMBER:		0000006207-04-000031
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040922
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20040924
DATE AS OF CHANGE:		20040924

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMREP CORP
		CENTRAL INDEX KEY:			0000006207
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				590936128
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04702
		FILM NUMBER:		041044533

	BUSINESS ADDRESS:	
		STREET 1:		641 LEXINGTON AVENUE
		STREET 2:		6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2127054700

	MAIL ADDRESS:	
		STREET 1:		641 LEXINGTON AVE
		STREET 2:		6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN REALTY & PETROLEUM CORP
		DATE OF NAME CHANGE:	19671019
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>axr8k092204.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>


                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): September 22, 2004
                                                 ----------------------

                                AMREP CORPORATION
 ------------------------------------------------------------------------------
             (Exact name of registrant as specified in its Charter)


          Oklahoma                        1-4702                59-0936128
- ----------------------------           -------------        -------------------
(State or Other Jurisdiction           (Commission            (IRS Employer
    of Incorporation)                  File Number)          Identification No.)


          641 Lexington Avenue, New York, New York             10022
- -------------------------------------------------------------------------------
        (Address of principal executive offices)            (Zip Code)


Registrant's telephone number, including area code: (212) 705-4700
                                                    --------------

                                 Not Applicable
- -------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))



<PAGE>



ITEM 8.01 OTHER EVENTS.

          On September 22, 2004 as reported in the Registrant's press release
included as Exhibit 99.1 to this  Current  Report on Form 8-K, the text of which
is incorporated  into this Item 8.01 by reference,  a jury verdict was issued in
the court proceedings in connection with the condemnation of the Registrant's El
Dorado water utility in Santa Fe, New Mexico.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

         (c)   Exhibits:

         99.1  Press  Release   dated   September  23,  2004  issued  by  AMREP
Corporation.


                                    SIGNATURES

          Pursuant to the  requirements of the Securities  Exchange Act of 1934,
     the  Registrant  has duly  caused this report to be signed on its behalf by
     the undersigned hereunto duly authorized.



                                          AMREP CORPORATION

     Date:  September 24, 2004            By: /s/ Peter M. Pizza
            ------------------                ---------------------------
                                              Peter M. Pizza
                                              Vice President and
                                              Chief Financial Officer



                                       2
<PAGE>



                                  Exhibit Index


  Exhibit
  Number                        Description
  -------                       -----------
   99.1                         Text of press release issued September 23, 2004.


                                       3


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>press092204.txt
<TEXT>
                                                                    Exhibit 99.1


FOR:     AMREP CORPORATION
         641 Lexington Avenue
         New York, NY 10022

CONTACT: Peter M. Pizza
         Vice President and
         Chief Financial Officer
         (212) 705-4700
         (212) 705-4740 (fax)



                                                           FOR IMMEDIATE RELEASE
                                                           ---------------------


           AMREP REPORTS JURY VERDICT IN ELDORADO UTILITIES COURT CASE
           -----------------------------------------------------------

New York, September 23, 2004 - AMREP Corporation  (NYSE:AXR) reported today that
in the court proceedings in connection with the condemnation of the Company's El
Dorado  water  utility in Santa Fe, New Mexico,  a jury  verdict has been issued
valuing the utility at $11 million. The condemning authority had proposed a $6.2
million valuation. The Company believes that the condemning authority at present
does not have  available  financing for an $11 million  condemnation.  It is not
known what action the condemning  authority will now take in this matter.  Among
the possible  actions are appealing the verdict,  abandoning the condemnation or
seeking the additional financing needed to complete it. The Company is therefore
unable to predict the consequences to it of the jury verdict.



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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