Memorial Service Held For Kevork Hovnanian at St. Vartan Cathedral

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October 6, 2009

Memorial Service Held for Kevork Hovnanian at St. Vartan Cathedral

Over one thousand mourners came to New York’s St. Vartan Armenian Cathedral
on Saturday, October 3, braving periodic thunderstorms, to attend a memorial
service for Kevork S. Hovnanian.

Mr. Hovnanian, a world-class business leader, founder of the Fund for
Armenian Relief (FAR) and its longtime chairman, and a major benefactor of
numerous Armenian concerns, including the Armenian Church, passed away on
Thursday, September 24 at age 86.

In his eulogy on October 3, Archbishop Khajag Barsamian, Primate of the
Diocese of the Armenian Church of America (Eastern), reflected on Mr.
Hovnanian’s legacy, recalling a poignant moment he shared with him in the
autumn of 1991 when Mr. Hovnanian was invited by His Holiness Vasken I, of
blessed memory, to serve as the godfather of the blessing of the Holy Muron.
The occasion was the first time the ceremony was performed in an independent
Armenia.

"What Catholicos Vasken saw in Kevork Hovnanian was a man who could stand as
an example to future generations, of the very best our heritage had to
offer," said the Primate.

"Kevork Hovnanian was a man who could be rightly called ‘a leader of his
people.’ A man whose wisdom you would trust in the most extraordinary
circumstances. A man who would never abandon you – even during the times of
greatest trouble, of deepest despair."

Mr. Hovnanian had served as godfather for the Primate at his episcopal
ordination in 1990.

The Primate noted Mr. Hovnanian’s accomplishments in all aspects of his
life; in business, philanthropy, family, and in his dedication to the
Armenian Church and people.

"In Armenia, there are thousands upon thousands of people, whose lives are
better today because of Kevork Hovnanian’s presence in this world," said the
Primate.

Mr. Hovnanian’s influence extended beyond Armenians and Armenia.

"In America, there are people who could never have afforded homes; who would
never have obtained an education, or treatment for an illness – were it not
for Kevork Hovnanian’s business, and his philanthropy."

The Primate also touched upon Mr. Hovnanian’s commitment to his family,
especially his devotion to his wife Sirvart, who "was quite simply the
inspiration for everything Kevork Hovnanian did."

Highlighting Mr. Hovnanian’s contributions to the Armenian Church and
people, Archbishop Vicken Aykazian, Legate of the Eastern Diocese, noted
that Mr. Hovnanian was one of the founders of FAR and a long-standing
chairman of the organization.

"Mr. Hovnanian had a strong sense of patriotism, love for his homeland, and
dedication to the church," said Archbishop Aykazian.

Dr. Tavit Najarian, Mr. Hovnanian’s son-in-law, introduced Ara Hovnanian and
Arthur Greenbaum, who shared personal reflections on the life of Kevork
Hovnanian.

Ara Hovnanian, Kevork’s son and the president of K. Hovnanian Enterprises,
said his father arrived in the United States penniless, with limited
English. He was nonetheless determined to build a new life in his adopted
homeland.

He eventually founded K Hovnanian Enterprises, which became a Fortune 500
company.

"My father led a full life," said Ara Hovnanian, who began working with his
father 30 years ago. He said that his father was an integral part of his
daily life.

"We grew up in a very, very loving household," said Ara Hovnanian, noting
the importance of family to his father. He said he would miss the habit of
calling his father every day and seeking his counsel.

Ara Hovnanian also paid tribute to the tender relationship between his
parents. His father’s world "revolved around her epicenter," Ara Hovnanian
said of his mother, Sirvart.

In his memorial remarks, Arthur Greenbaum recalled that "Nothing was too
difficult for Kevork to take on." A board member of K. Hovnanian until his
recent retirement, Mr. Greenbaum met Kevork Hovnanian in 1959, and remained
a close friend thereafter.

"Another unique trait that was so profound was his humility," recalled Mr.
Greenbaum. "His humbleness never waned."

During the memorial service Dr. Najarian also read a condolence letter from
Serge Sargsyan, the President of the Republic of Armenia.

Born and raised in Iraq in 1923, Mr. Hovnanian was successful in his own
right as managing partner in one of Iraq’s largest road building companies.
Following the revolution in the country, Mr. Hovnanian immigrated with his
wife and three children to the United States.

Partnering with his brothers, he started Hovnanian Corp., Engineers and
Builders. Soon thereafter, Mr. Hovnanian established a new construction
company, K. Hovnanian Enterprises-currently the eighth largest homebuilder
in the nation with operations in 19 states.

Mr. Hovnanian’s charitable organizations and contributions were
far-reaching. He built the St. Stepanos Church of Elberon, N.J., in 1988.
Later that same year, the earthquake struck Armenia, and Kevork Hovnanian,
along with then-Primate Archbishop Torkom Manoogian and Dr. Edgar Housepian,
founded the Diocesan relief organization that would eventually be known as
the Fund for Armenian Relief. As chairman of FAR from its inception through
2005, Mr. Hovnanian was a hands-on leader who shaped FAR into the
pre-eminent relief organization working in Armenia.

In addition to his efforts with FAR, he renovated the 130-year-old Kevorkian
Seminary at Holy Etchmiadzin in Armenia. Mr. Hovnanian was also chairman of
the Armenian Church Endowment Fund, and served on the Diocesan Board of
Trustees.

In 1992, Kevork and Sirvart Hovnanian renovated and donated a Manhattan
townhouse to serve as the Republic of Armenia’s Mission to the United
Nations. The property was the first holding of the new republic off of
Armenia’s soil.

For his efforts and contributions to the Armenian Church, His Holiness
Vasken I conferred upon Mr. Hovnanian the "St. Gregory the Illuminator
Medal."

Outside of the Armenian community, Mr. Hovnanian built a children’s hospital
at the Jersey Shore University Medical Center and funded the Emergency Care
Center at the Riverview Medical Center in New Jersey. He also established
the Cardiology Floor at the New York Presbyterian Hospital, which is
currently under construction.

His accomplishments have led to an array of honors including Harvard
University’s Dively Award for leadership in Corporate Public Initiatives, a
listing among Rutgers University’s 25 top New Jersey Business leaders of the
century, the Ellis Island Medal of Honor Award, Man of the Year awards from
the New Jersey Council for Christians and Jews, as well as recognition from
the Diocese of the Armenian Church of America for his assistance to
earthquake victims in Armenia.

Mr. Hovnanian is survived by his wife, Sirvart, five children and thirteen
grandchildren.

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Photo attached: Kevork S. Hovnanian.

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