BBVA Buy back programme

Banco Bilbao Vizcaya Argentaria SA
24 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 23,
2005:

         Date         Buy / Sell         No of shares          Price

      23/05/2005         Sell               25,000             12.67
      23/05/2005         Sell               25,000             12.68
      23/05/2005         Sell               50,000             12.69
      23/05/2005         Sell               25,000             12.70
      23/05/2005         Sell               90,000             12.71
      23/05/2005         Sell               85,000             12.72
      23/05/2005         Sell               31,000             12.73
      23/05/2005         Sell               25,000             12.74



                                                            Madrid, May 24, 2005


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