BBVA Buy back of own shares

Banco Bilbao Vizcaya Argentaria SA
23 May 2005






 'BBVA, S.A.', 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



In connection with the buy back programme of BBVA shares announced by means of
the relevant 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 May 20,
2005:



         Date                 Buy / Sell        No of shares          Price
      20/05/2005                 Buy               75,000             12.57
      20/05/2005                 Buy               75,000             12.58
      20/05/2005                 Buy               83,000             12.59
      20/05/2005                 Buy              628,579             12.61
      20/05/2005                 Buy              168,000             12.62
      20/05/2005                 Buy               20,421             12.63
      20/05/2005                 Sell              25,000             12.69
      20/05/2005                 Sell              80,000             12.70
      20/05/2005                 Sell              50,000             12.71



                                                            Madrid, May 23, 2005


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