BBVA Buy Back Programme

Banco Bilbao Vizcaya Argentaria SA
25 August 2005


                           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 August
24, 2005:

         Date                Buy / Sell           No of shares             Price

      24/08/2005                Buy                      6,879             13.72
      24/08/2005                Buy                     65,000             13.73
      24/08/2005                Buy                    395,000             13.74
      24/08/2005                Buy                    245,000             13.75
      24/08/2005                Buy                     35,000             13.76
      24/08/2005                Buy                    175,000             13.78


Madrid, August 25, 2005



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