BBVA Buy back programme

Banco Bilbao Vizcaya Argentaria SA
11 May 2005


                                  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 10,
2005:


        Date                 Buy / Sell               No of shares      Price
     10/05/2005                 Buy                         80,000        12.13
     10/05/2005                 Buy                         40,000        12.14
     10/05/2005                 Buy                        423,403        12.15
     10/05/2005                 Buy                         65,000        12.16
     10/05/2005                 Buy                        138,530        12.17
     10/05/2005                 Buy                         80,000        12.18
     10/05/2005                 Buy                         65,000        12.19
     10/05/2005                 Buy                         70,000        12.20


                                                            Madrid, May 11, 2005


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