CUSIP No. 032159 10 5 Page 1 of 1 Page Joint Filing Agreement

SCHEDULE 13D
CUSIP No. 032159 10 5								Page 1 of 1 Page
Exhibit 1
Joint Filing Agreement
The undersigned parties hereby agree to the joint filing of the Statement on Schedule 13D filed herewith, and any amendments hereto, relating to the Common Stock, Par Value $0.10 per share, of AMREP Corporation with the Securities and Exchange Commission pursuant to Rule 13d-1(k).  The undersigned parties hereby acknowledge that each shall be responsible for the timely filing of any such amendments, and for the completeness and accuracy of the information concerning the other persons making this filing, unless such person knows or has reason to believe that such information is inaccurate.
Date:			October 26, 2007
						Xxxxxxx & Company, Incorporated
		/s/ Xxxxxx X. Xxxxxxx				By:	/s/ Xxxxxx X. Xxxxxxx
		Xxxxxx X. Xxxxxxx					Name: Xxxxxx X. Xxxxxxx
							Title: President and Treasurer
Robotti & Company, LLC						Robotti & Company Advisors, LLC
By:		/s/ Xxxxxx X. Xxxxxxx				By:	/s/ Xxxxxx X. Xxxxxxx
		Name: Xxxxxx X. Xxxxxxx					Name: Xxxxxx X. Xxxxxxx
		Title: President and Treasurer					Title: President and Treasurer
						By:	/s/ Xxxxxxx X. Xxxxxx
							Xxxxxxx X. Xxxxxx
Ravenswood Management Company, L.L.C.						The Ravenswood Investment Company, L.P.
By:		/s/ Xxxxxx X. Xxxxxxx				By:	Ravenswood Management Company, L.L.C.
		Name: Xxxxxx X. Xxxxxxx					Its General Partner
		Title: Managing Member
Ravenswood Investments III, L.P.						By:	/s/ Xxxxxx X. Xxxxxxx
							Name: Xxxxxx X. Xxxxxxx
By:		Ravenswood Management Company, L.L.C.					Title: Managing Member
		Its General Partner
By:		/s/ Xxxxxx X. Xxxxxxx
		Name: Xxxxxx X. Xxxxxxx
		Title: Managing Member