Acquisition

Banco Bilbao Vizcaya Argentaria SA
19 June 2007




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 and 'Grupo Gmp' (GMP) have reached an agreement through which BBVA will
acquire, by means of a group entity, the real estate 'Parque Empresarial Foresta
' located in the northern development area of Madrid, where it will build new
corporate headquarters.

This project will involve an investment for the BBVA Group greater than 700
million euros, which includes the purchase of the plots, the construction and
the equipment of the buildings of the corporate headquarters.

Both groups have executed various sale and purchase agreements by virtue of
which GMP acquires four buildings from BBVA, specifically those located in
Castellana, 81; Goya, 14; Hortaleza-Via de los Poblados and  Alcala, 16,
although the sale of this last building is subject to certain administrative
clearances. In any case, BBVA will keep for the next twenty years the banking
agencies located in such buildings, as well as the corporate logos visible on
top of the building in Castellana 81.

Once the above mentioned sale and purchase transactions are completed, the bank
will obtain gross capital gains of approximately 300 million euros.

A press release related to the agreements reached, which will be disclosed to
the media, is attached.



                                                           Madrid, June 19, 2007



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