Acquisition

Banco Bilbao Vizcaya Argentaria SA
12 June 2006



Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), pursuant to the provisions of
article 82 of the Spanish Securities Market Act, proceeds by means of the
present document to notify the following:


RELEVANT EVENT


BBVA has reached today an agreement for the acquisition of Texas Regional
Bancshares Inc., a USA banking group quoted on the Nasdaq, domiciled and with
its principal activity in Texas. The price per share agreed with the Board of
Directors of the target is equivalent to $38.90, which amounts to a total price
of approximately $2,164 million, which shall be fully paid with internal
resources.


The acquisition will take place through a reverse subsidiary merger. The merger
will only become effective, as provided by the applicable legislation, when 2/3
of the capital represented in the general shareholders meetings of the targeted
entity approve the merger and, as is customary in these types of transactions,
the necessary administrative authorizations have been obtained. Simultaneously
to the merger agreement, a voting agreement has been reached with significant
shareholders of Texas Regional Bancshares Inc., in which they make an
irrevocable commitment to vote their shares in favour of the acquisition.
Shareholders representing 8,82 % of the share capital of Texas Regional
Bancshares Inc., have signed this agreement.


Tomorrow, at 9.30 a.m. (Madrid time) the transaction shall be presented to
analysts and investors. There will be a live webcast of the presentation which
may be accessed from BBVA's corporate site (www.bbva.com), and which will be
available for replay at BBVA's corporate web during at least the following
month.





                                                           Madrid, June 12, 2006


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