1st interim dividend

Banco Bilbao Vizcaya Argentaria SA
5 July 2002



                     BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

                      FIRST INTERIM DIVIDEND FOR YEAR 2002

The Board of Directors of Banco Bilbao Vizcaya Argentaria, S.A., in the meeting
held today in Palma de Majorca, has approved the payment of an interim dividend
for year 2002: 0.09 euros per share.




Gross dividend


        0.09 euros per share.


Withholding tax rate


        18%


Business days


        Record :          July 9th, 2002

        Ex-dividend:      July 10th, 2002

        Payment:          Upon July 10th, 2002

                                                          Bilbao, June 28th 2002



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