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Ara Hovnanian
President and Chief Executive Officer
Hovnanian Enterprises, Inc.

Ara Hovnanian, 47, has been Chief Executive Officer since 1997, after being appointed President in 1988 and Executive Vice President in 1983. Mr. A. Hovnanian joined the Company in 1979 following completion of his joint undergraduate and graduate work at The Wharton School in Philadelphia. He graduated summa cum laude with degrees in accounting, finance and real estate. Mr. A. Hovnanian was elected a Director of the Company in December 1981.

Mr. A. Hovnanian serves as a member of the Advisory Council of PNC Bank and spends a significant amount of time working with several charitable organizations. He served on New Jersey's Council on Affordable Housing for Gov. Thomas Kean in 1985 and for Gov. James J. Florio in 1990. Gov. Christie Todd Whitman appointed Mr. A. Hovnanian as a member of the Governor's Economic Master Plan Commission in 1994.

Mr. A. Hovnanian is the son of Kevork S. Hovnanian, Chairman, who founded the Company in 1959.