Acquisition

Banco Bilbao Vizcaya Argentaria SA
01 October 2003


'BBVA, S.A.', pursuant to the provisions of section 82 of the Securities Market
Act, hereby announces the following


                               SIGNIFICANT EVENT


BBVA reports its intention to acquire shares representing approximately 3.77% of
the BBVA Bancomer stock from the group of shareholders that signed the merger
agreement leading to the creation of the Mexican financial institution in 2000.

This group of investors announced their intention to exercise their put option
over this percentage of the BBVA Bancomer's capital. The option was granted them
by BBVA under the main merger agreement and its ancillary documents.

According to the terms of these agreements, once the legal procedures had been
satisfied and the necessary documents granted, BBVA would buy around 350 million
shares of BBVA Bancomer at a price of 8.9983 Mexican pesos per share -the mean
from the closing prices over the last 60 trading sessions prior to the date of
notification-. This would mean an investment of approximately 246 million euros
and would give BBVA a holding of 59.42% of BBVA Bancomer's capital.


                                                                  1 October 2003


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