BBVA BUY BACK PROGRAMME

Banco Bilbao Vizcaya Argentaria SA
07 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) 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 5 and 6, 2005:

       Date            Buy/Sell        N o  of shares         Price

    05/09/2005           Sell              20,000             13.72
    05/09/2005           Sell              45,000             13.73
    05/09/2005           Sell              20,000             13.74
    05/09/2005           Sell              85,000             13.75
    05/09/2005           Sell              35,000             13.76
    05/09/2005           Sell              95,000             13.77
    05/09/2005           Sell              45,000             13.78
    05/09/2005           Sell              20,000             13.79
    05/09/2005           Sell              70,000             13.80
    05/09/2005           Sell             120,000             13.81
    05/09/2005           Sell              90,000             13.82
    05/09/2005           Sell              20,000             13.83
    06/09/2005           Sell             150,000             13.90
    06/09/2005           Sell              25,000             13.91
    06/09/2005           Sell              60,000             13.92
    06/09/2005           Sell              25,000             13.93
    06/09/2005           Sell             110,000             13.94
    06/09/2005           Sell             215,000             13.95
    06/09/2005           Sell              95,000             13.96
    06/09/2005           Sell             170,000             13.97
    06/09/2005           Sell             160,000             13.98
    06/09/2005           Sell             125,000             13.99


Madrid, September 7, 2005


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