Hovnanian Enterprises
Industry: Construction/Agriculture/Construction Services

Hovnanian Enterprises, Inc. designs, constructs and markets single-family detached homes and attached condominium apartments and townhouses in planned residential developments in the United States. It primarily markets and builds homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active adult buyers and empty nesters. As of October 31, 2003 (fiscal year-end 2003), the Company was offering homes for sale in 257 communities in 23 markets throughout the United States. Its residential communities are generally located in suburban areas near major highways. Its communities are designed as neighborhoods that fit existing land characteristics. Hovnanian strives to create diversity within the overall planned community by offering a mix of homes with differing architecture, textures and colors. Recreational amenities such as swimming pools, tennis courts, clubhouses and tot lots are frequently included. In fiscal 2003, the Company delivered 11,531 homes.

Business Summary
Hovnanian Enterprises, Inc. engages in building residential homes in the United States. The company designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, mid-rise and high-rise condominiums, urban infill, and adult homes. It primarily markets and builds homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, adult buyers, and empty nesters. The company offers homes for sale in 275 communities in 24 markets in 13 states throughout the United States. In addition, it provides financial services, such as mortgage loans and title services to its homebuilding customers. Hovnanian was founded by Kevork Hovnanian in 1959. The company is headquartered in Red Bank, New Jersey.

Financial Summary
N/A