AMREP CORPORATION
File No.: 1-4702																					Schedule 1
Summary of Land Received in Lieu of Foreclosure
	FY2009																						FY2008
	Investment		Inventory		Inventory		Inventory		Inventory		Inventory		Inventory		Inventory		Inventory		Inventory		Total
	Asset Sale		Land Sale		Land Sale		Land Sale		Land Sale		Land Sale		Land Sale		Land Sale		Land Sale		Land Sale		Inventory Land		Inventory Land
	Takeback			A		B		C		D		E		F		G		H		I	Sale Takebacks		Sale Takeback
Takeback Date	Jan 2009		Sep 2008		Sep 2008		Sep 2008		Dec 2008		Dec 2008		Sep 2008		Jan 2009		Feb 2009		Mar 2009				Jan 2008
Original Sale/Mortgage Date	04/13/07		04/24/07		04/24/07		04/24/07		10/27/06		04/20/07		01/16/07		07/27/06		07/27/06		12/01/05				10/30/06
Maturity Date	10/13/08		04/24/09		04/24/09		04/24/09		10/27/08		04/20/09		01/15/08		08/18/08		07/27/08		12/01/07				10/30/08
Acres Sold		41.00		17.24		16.63		19.25		27.34		27.86		7.00		30.50		27.12		3.52		176.46		77.35
Sales Price	$	1,279,064.29	$	737,500.00	$	737,500.00	$	737,500.00	$	1,078,000.00	$	962,000.00	$	350,000.00	$	4,100,000.00	$	1,173,462.00	$	102,500.00	$	9,978,462.00	$	4,714,000.00
Gross Profit	$	1,231,991.25	$	701,272.54	$	697,995.62	$	702,900.40	$	1,061,833.50	$	949,743.83	$	335,998.88	$	4,039,610.00	$	1,119,764.40	$	94,813.23	$	9,703,932.40	$	4,595,691.31
Initial Cash Deposit	$	255,812.86	$	147,500.00	$	147,500.00	$	147,500.00	$	215,600.00	$	192,400.00	$	70,000.00	$	820,000.00	$	234,692.40	$	20,500.00	$	1,995,692.40	$	942,800.00
Percent Down		20.0%		20.0%		20.0%		20.0%		20.0%		20.0%		20.0%		20.0%		20.0%		20.0%		20.0%		20.0%
Original Mortgage Amount	$	1,023,251.43	$	590,000.00	$	590,000.00	$	590,000.00	$	862,400.00	$	769,600.00	$	280,000.00	$	3,280,000.00	$	938,769.60	$	82,000.00	$	7,982,769.60	$	3,771,200.00
Mortgage Receivable at Takeback	$	1,023,251.43	$	560,500.00	$	560,500.00	$	560,500.00	$	819,223.88	$	728,298.40	$	279,982.64	$	2,951,000.00	$	404,633.05	$	40,175.11	$	6,904,813.08	$	3,771,200.00
Interest Receivable at Takeback	$	101,736.45	$	10,314.91	$	10,378.38	$	14,289.34	$	976.12	$	17,407.11	$	12,243.26	$	3,451.82	$	-	$	5,554.80	$	74,615.74	$	120,484.67
Total Receivable at Takeback	$	1,124,987.88	$	570,814.91	$	570,878.38	$	574,789.34	$	820,200.00	$	745,705.51	$	292,225.90	$	2,954,451.82	$	404,633.05	$	45,729.91	$	6,979,428.82	$	3,891,684.67
Acres Taken Back		41.00		17.24		16.63		19.25		27.34		27.86		7.00		30.50		12.50		2.40		160.72		77.35
Buyer Investment at Takeback		20.0%		24.0%		24.0%		24.0%		24.0%		24.3%		20.0%		28.0%		25.2%		42.5%				20.0%