Exhibit 21

SUBSIDIARIES OF REGISTRANT

				Name	Jurisdiction of Organization
AMREP Corporation (Registrant)					Oklahoma
	American Republic Investment Co.				Delaware
		AMREP Southwest Inc.			New Mexico
			Outer Rim Investments, Inc.		New Mexico
			AMREPCO Inc.		Colorado
			Las Fuentes Village II, LLC		New Mexico
			Las Fuentes Village III, LLC		New Mexico
			Lomas Encantadas Development Company, LLC		New Mexico
			Hawksite 27 Development Company, LLC		New Mexico
			Enchanted Hills Development Company, LLC		New Mexico
			Southwest Mineral Company, LLC		New Mexico
			Clean Slate Properties, LLC		New Mexico
			Butterfly Holdings, LLC		New Mexico
			Amreston Homes LLC		New Mexico
			Amreston Construction LLC		New Mexico
			Mountain Hawk East Development Company LLC		New Mexico
			Mountain Hawk West Development Company LLC		New Mexico
			Tierra Feliz Development Company LLC		New Mexico
			Lavender Fields, LLC		New Mexico
			Sol Oeste LLC		New Mexico
			Pueblo del Sol, LLC		New Mexico
			Wymont LLC		New Mexico
			Arroyos LLC		New Mexico
			Rioscapes, LLC		New Mexico
			Resurrection Land Company, LLC		New Mexico
			Corner Office, LLC		New Mexico
			Roentgen Wellspring LLC		New Mexico
		PCD ARIC Holdco LLC			Delaware

Certain subsidiaries have been omitted from this list. These subsidiaries, when considered in the aggregate as a single subsidiary, do not constitute a significant subsidiary as defined in Rule 1-02(w) of Regulation S-X.