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AMREP Corporation, through its subsidiaries, engages in the real estate, fulfillment services, and newsstand distribution businesses. It develops both residential lots and sites for commercial and industrial use, as well as secures entitlements for development tracts for sale to homebuilders. As of April 30, 2005, the company owned approximately 19,550 acres of land in Rio Rancho, 55,000 square foot of office building, and a 30,000 square foot commercial rental property in Rio Rancho, as well as 2 tracts of land properties located in Colorado. Its fulfillment services include magazine subscription fulfillment services, lettershop and graphics arts services, customer telephone support, list services, and product fulfillment services. The magazine subscription fulfillment services comprise processing new orders, receiving payments, preparing and mailing renewal and statement notifications, maintaining subscriber lists and databases, processing Internet orders, and printing forms and promotional materials. The list services comprise maintaining client customer lists, merging rented lists with a client's list, and sorting and sequencing mailing labels. The company receives, warehouses, processes, and ships merchandise as part of its product fulfillment services. AMREP distributes automotive, men's sophisticates, comics, puzzle, romance, and sports magazines for publishers. The company was founded in 1955 and is based in New York City.