Acquisition of shares BNL

Banco Bilbao Vizcaya Argentaria SA
18 March 2005

BBVA

'BBVA, S.A.', in compliance with article 82 of the Spanish Securities Market Act
(Ley de Mercado de Valores), hereby informs you of the following:

                              SIGNIFICANT EVENT

In relation to the news which have appeared in the media, and responding to the
request of the CNMV, BBVA informs that the Board of Directors that will probably
meet during the week of 28 March to 1 April, 2005, plans to discuss the possible
launch of a  public bid to acquire the share capital of Banca Nazionale del
Lavoro which BBVA does not own so far, once it obtains all the necessary
authorizations. BBVA holds presently 14,72% of the ordinary shares of BNL.

As established under Italian banking law ('Istruzione di Vigilanza por le Banche
' Title II, Chapter 1, section II, paragraph 3), BBVA filed today with the Bank
of Italy the Preliminary Information due, according to which it communicates to
the Italian banking regulatory authority its intention to propose to the Board
of Directors the launching of a public offer bid.

It is foreseen to suggest to the Board that the shares will be paid with newly
issued BBVA shares; for that purpose an extraordinary shareholders meeting shall
be convened.  The exchange ratio foreseen to be suggested to the board will be
one share of BBVA for five shares of BNL .

                                                                  March 18, 2005




                      This information is provided by RNS
            The company news service from the London Stock Exchange