EXHIBIT 99.1 AGREEMENT dated as of May 20, 1997 among Tweedy, Browne Company L.P., a Delaware limited partnership ("TBC"), TBK Partners, L.P., a Delaware limited partnership ("TBK"), and Vanderbilt Partners L.P., a Delaware limited partnership...

   1


                                  EXHIBIT 99.1


       AGREEMENT dated as of May 20, 1997 among Tweedy, Xxxxxx Company L.P., a
Delaware limited partnership ("TBC"), TBK Partners, L.P., a Delaware limited
partnership ("TBK"), and Vanderbilt Partners L.P., a Delaware limited
partnership ("Vanderbilt").


                                   WITNESSETH:

       WHEREAS, TBC, TBK and Vanderbilt may be deemed to have acquired, in the
aggregate, beneficial ownership of more than five percent of the Common Stock
(the "Common Stock") of Hovnanian Enterprises, Inc. (The "Company") and

       WHEREAS, pursuant to Rule 13d-1 under the Securities Exchange Act of 1934
(the "Act"), a Statement on Schedule 13D must be filed by any person who
acquires more than five percent of registered equity securities; and

       WHEREAS, in accordance with Rule 13d-1(f) of the Act, only one such
Statement need be filed whenever two or more persons are required to file such a
Statement pursuant to Section 13(d) of the Act with respect to the same
securities, provided that said persons agree in writing that such Statement is
filed on behalf of each of them.

       NOW, THEREFORE, in consideration of the premises and mutual agreements
herein contained, the parties hereto agree as follows:

       TBC, TBK and Vanderbilt do hereby agree, in accordance with Rule 13d-1(f)
under the Act, to file one Statement on Schedule 13D relating to their ownership
of the Common Stock, and do hereby further agree that said Statement shall be
filed on behalf of each of TBC, TBK and Vanderbilt. Nothing herein, however,
shall be, or shall be deemed to be, an admission that the parties hereto, or any
of them, are members of a "group" (within the meaning of Section 13(d) of the
Act and the rules and regulations promulgated thereunder) with respect to any
securities of the Company.

       IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.


TWEEDY, XXXXXX COMPANY L.P.               VANDERBILT PARTNERS, L.P.



By                                        By
   -----------------------------              --------------------------------- 
   Xxxxxxxxxxx X. Xxxxxx                      Xxxxxxxxxxx X. Xxxxxx
   General Partner                            General Partner


TBK PARTNERS, L.P.



By
   -----------------------------
   Xxxxxxxxxxx X. Xxxxxx
   General Partner