BBVA Buy back programme

Banco Bilbao Vizcaya Argentaria SA
19 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 17
and 18, 2005:



       Date               Buy / Sell               No of shares            Price
    17/05/2005               Sell                         5,000            12.53
    18/05/2005               Sell                       150,000            12.49
    18/05/2005               Sell                        75,000            12.50
    18/05/2005               Sell                        72,000            12.51
    18/05/2005               Sell                       127,000            12.52
    18/05/2005               Sell                       110,000            12.53
    18/05/2005               Sell                        40,000            12.54
    18/05/2005               Sell                        25,000            12.55
    18/05/2005               Sell                        75,000            12.56
    18/05/2005               Sell                        75,000            12.57
    18/05/2005               Sell                        25,000            12.58
    18/05/2005               Sell                        75,000            12.59
    18/05/2005               Sell                       235,000            12.60
    18/05/2005               Sell                       165,000            12.61
    18/05/2005               Sell                       135,253            12.62
    18/05/2005               Sell                       100,000            12.63







                                                            Madrid, May 19, 2005


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