BBVA Buy back programme

Banco Bilbao Vizcaya Argentaria SA
17 May 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:

                                 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 16,
2005:


         Date            Buy / Sell          No of shares       Price
      16/05/2005            Sell                   40,000       12.48
      16/05/2005            Sell                  120,000       12.49
      16/05/2005            Sell                   45,000       12.50
      16/05/2005            Sell                   45,000       12.51
      16/05/2005            Sell                   35,000       12.52
      16/05/2005            Sell                   85,000       12.53
      16/05/2005            Sell                   35,000       12.54


                                                            Madrid, May 17, 2005


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