AGREEMENT OF JOINT FILING

CUSIP No. 000000000                                              SCHEDULE 13D

                                                        EXHIBIT 1




                            AGREEMENT OF JOINT FILING


         The undersigned hereby agree, pursuant to Rule 13d-1(f)(1)(iii), that a
joint Schedule 13D be filed on behalf of each of the undersigned,  in respect of
transactions in the Common Stock of Xxxxxxxx  Convertibles,  Inc. involving each
of the undersigned.



         Date:    December 16, 1998


                                            /s/Xxxx X. Klaussner
                                            ---------------------
                                            Xxxx X. Klaussner


                                            KLAUSSNER CORPORATION


                                         By:  /s/ Xxxxxx X. Xxxxxxxx
                                              ----------------------
                                             Xxxxxx X. Xxxxxxxx, Vice President


                                            KLAUSSNER ENTERPRISES, INC.


                                         By:  /s/ Xxxxxx X. Xxxxxxxx
                                             ------------------------
                                             Xxxxxx X. Xxxxxxxx, Vice President


                                            KLAUSSNER FURNITURE INDUSTRIES, INC.


                                         By:  /s/ Xxxxxx X. Xxxxxxxx
                                              -----------------------
                                             Xxxxxx X. Xxxxxxxx,
                                                 Senior Vice President
                                                  and Chief Financial Officer


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