BBVA buy back programme

Banco Bilbao Vizcaya Argentaria SA
27 June 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 June 24,
2005:

   Date                Buy / Sell           No of shares             Price

24/06/2005                Buy                     92,424             12.68
24/06/2005                Buy                    371,490             12.69
24/06/2005                Buy                  1,041,278             12.70



Madrid, June 27, 2005



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