BBVA buy back programme

Banco Bilbao Vizcaya Argentaria SA
12 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 11,
2005:

    Date                 Buy / Sell          No of shares             Price

11/05/2005                 Buy                       50.000           12,09
11/05/2005                 Sell                     180.000           12,35
11/05/2005                 Sell                      25.000           12,36


                                                            Madrid, May 12, 2005



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