Although corporate and union contributions are prohibited in federal
elections and in most states, there has been little action in the General
Assembly to extend the ban to Illinois.250% Senior Notes due January 2016 at a price of
98. persons in reliance on Regulation S. Such risks, uncertainties and other factors
include, but are not limited to, (1) changes in general and local economic and
business conditions , (2) weather conditions, (3) changes in market conditions,
(4) changes in home prices and sales activity in the markets where the Company
builds homes, (5) government regulation, including regulations concerning
development of land, the homebuilding process and the environment, (6)
fluctuations in interest rates and the availability of mortgage financing, (7)
shortages in and price fluctuations of raw materials and labor, (8) the
availability and cost of suitable land and improved lots, (9) levels of
competition, (10) availability of financing to the Company, (11) utility
shortages and outages or rate fluctuations, (12) geopolitical risks, terrorist
acts and other acts of war and (13) other factors described in detail in the
Company's Form 10-K for the year ended October 31, 2004.

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In addition to comprehensive limits on campaign contributions and
contributors, the blueprint suggests creating a voluntary public financing
option for judicial campaigns, strengthening the power of the State Board of
Elections to enforce financial disclosure laws, increasing the frequency of
disclosure of campaign contributions, mandating disclosure of lobbyist
contracts, requiring a cooling off period before legislators and state
employees could become lobbyists after leaving government, and creating non-
partisan voters guides with information about candidates on the ballot.

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This notice is being issued pursuant to
and in accordance with Rule 135c under the Securities Act of 1933.

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J. and will
be guaranteed by Hovnanian Enterprises, Inc.
The offering is expected to close on August 8 , 2005.

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CONTACT: Cindi Camary, 312-335-1767

Note: All statements in this Press Release that are not historical facts
should be considered as "forward-looking statements " within the meaning of the
Private Securities Litigation Reform Act of 1995.

regulation vested

notice elections

Such statements involve
known and unknown risks, uncertainties and other factors that may cause actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by
the forward-looking statements.

vested electionworld

S. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the Notes in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state.

Sites pertaining to the government, including the branches, laws, militaries, agencies, documents, and employment.

55 permits

The blueprint to guide elected leaders in negotiating reform was issued by
the Better Government Association, the Citizen Advocacy Center, Common Cause
of Illinois, the Illinois Campaign for Political Reform, the Illinois Public
Interest Research Group, the League of Women Voters of Illinois, Protestants
for the Common Good, and the Sunshine Project.
For more information on the reform proposals , visit
http://www.

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The coalition of eight reform groups urged legislators, the Governor and
all constitutional officers to work together on a comprehensive package of
legislation that would reduce the influence of special interest lobbies and
restore the confidence of citizens in all branches of state government.

compendium constitution

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Blueprint for Government and Campaign Reform

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ilcampaign. and most of the Company 's current
and future restricted subsidiaries.

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RED BANK, N. Hovnanian Enterprises, Inc.

regulation ghanaian

org .429 %.

regulation notice

The Notes will be
sold to qualified institutional buyers in reliance on Rule 144A and outside
the United States to non-U.

treaties vested

constitution parliaments

The Notes
have not and will not be registered under the Securities Act of 1933, as
amended (the "Securities Act"), and, unless so registered, may not be offered
or sold in the United States except pursuant to an exemption from, or in a
transaction not subject to , the registration requirements of the Securities
Act and applicable state securities laws.

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(NYSE: HOV), announced today that the Company entered into an agreement
to sell $300 million of 6.

renewable militaries

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, Hovnanian Enterprises,
Inc. The net proceeds of the Notes will be
used to repay currently outstanding indebtedness under the Company's revolving
credit facility and for general corporate purposes.

vested elections

treaties statesmen

Absent a total ban, the coalition
members said they would advocate restrictions on campaign contributions by
businesses that have state contracts or are regulated by the state.

permits parliaments

CHICAGO, The following was released today by the
Illinois Campaign Reform Coalition:

Strict limits on the size of campaign contributions and a ban on
contributions by corporations and labor unions led a 9-point blueprint of
government and campaign reform proposals unveiled Wednesday by a coalition of
reform advocates.

K. Hovnanian Enterprises to Issue $300 Million Senior Notes

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The Notes will be issued by K.