BBVA BUY BACK PROGRAMME

Banco Bilbao Vizcaya Argentaria SA
01 September 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) N(o) 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
30 and 31, 2005:




         Date                Buy / Sell           N(o) of shares      Price

      30/08/2005                Buy                   593,546                 13.45
      30/08/2005                Buy                   50,000                  13.47
      31/08/2005                Buy                   35,000                  13.39
      31/08/2005                Buy                   35,000                  13.40
      31/08/2005                Buy                   593,478                 13.45
      31/08/2005                Buy                    6,522                  13.47







Madrid, September 1, 2005



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