AMREP Senior VP Retires

AMREP Corporation AXR announced today that after more than 40 years of dedicated service to the company, James Wall, the head of AMREP's real estate operations and its senior vice president and a member of its board of directors, will leave those positions at year end. Although he is retiring from day-to-day operations, Mr. Wall will continue his involvement with the company as non-executive chairman of the board of its AMREP Southwest real estate subsidiary. No replacement for Mr. Wall as the principal executive of the company's real estate business has been selected.