BBVA BUY BACK PROGRAMME

Banco Bilbao Vizcaya Argentaria SA
29 August 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:


                                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
25 and 26, 2005:



     Date                 Buy / Sell                     No of shares      Price
  25/08/2005                  Buy                           25,000         13.63
  25/08/2005                  Buy                           25,000         13.64
  25/08/2005                  Buy                           25,000         13.65
  25/08/2005                  Buy                           25,000         13.66
  25/08/2005                  Buy                           25,000         13.67
  25/08/2005                  Buy                           25,000         13.68
  25/08/2005                  Buy                           25,000         13.69
  26/08/2005                  Buy                          440,158         13.54
  26/08/2005                  Buy                          120,000         13.55
  26/08/2005                  Buy                           70,000         13.56
  26/08/2005                  Buy                           70,000         13.57
  26/08/2005                  Buy                           70,000         13.58
  26/08/2005                  Buy                           70,000         13.59
  26/08/2005                  Buy                           35,000         13.60
  26/08/2005                  Buy                           35,000         13.61
  26/08/2005                  Buy                           35,000         13.62
  26/08/2005                  Buy                           35,000         13.63
  26/08/2005                  Buy                           35,000         13.64




                                                         Madrid, August 29, 2005


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