BBVA 29Set2005 buy back progr

Banco Bilbao Vizcaya Argentaria SA
29 September 2005


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:

                            SIGNIFICANT EVENT

In connection with the buy back programme of BBVA shares announced by means of
the significant event number 56415 on March 29, 2005, and pursuant to article
4.4. of Regulation (CE) No 2273/2003 of the European Commission, Banco Bilbao
Vizcaya Argentaria, S.A. announces that the company Corporacion Industrial y de
Servicios, S.L., fully owned subsidiary of the group BBVA, has conducted the
following trades in shares of  Banco Bilbao Vizcaya Argentaria, S.A. on
September 27 and 28, 2005:

        Date        Buy/Sell         No of shares          Price

    27/09/2005          Sell               25,000          14.22
    27/09/2005          Sell               25,000          14.23
    27/09/2005          Sell               50,000          14.24
    27/09/2005          Sell               50,000          14.25
    27/09/2005          Sell               47,425          14.26
    27/09/2005          Sell               25,000          14.27
    27/09/2005          Sell               25,000          14.28
    28/09/2005          Sell              617,399          14.28
    28/09/2005          Sell               23,556          14.29
    28/09/2005          Sell               84,163          14.30
    28/09/2005          Sell               70,837          14.31
    28/09/2005          Sell               50,000          14.32
    28/09/2005          Sell               25,000          14.33
    28/09/2005          Sell               25,000          14.34
    28/09/2005          Sell               25,000          14.35
    28/09/2005          Sell               25,000          14.36
    28/09/2005          Sell               25,000          14.37
    28/09/2005          Sell               25,000          14.38
    28/09/2005          Sell               25,000          14.39
    28/09/2005          Sell               55,000          14.40
    28/09/2005          Sell               30,000          14.41
    28/09/2005          Sell               30,000          14.42
    28/09/2005          Sell               30,000          14.43
    28/09/2005          Sell               30,000          14.44
    28/09/2005          Sell               30,000          14.45
    28/09/2005          Sell               30,000          14.46
    28/09/2005          Sell               30,000          14.47
    28/09/2005          Sell               30,000          14.48
    28/09/2005          Sell               30,000          14.49


Madrid, September 29, 2005


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