BBVA buy back programme

Banco Bilbao Vizcaya Argentaria SA
01 July 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 29
and 30, 2005:
          Date                Buy / Sell             No of shares            Price

       29/06/2005               Sell                          25,000           12.59
       29/06/2005               Sell                         145,000           12.60
       29/06/2005               Sell                          80,000           12.61
       29/06/2005               Sell                          65,000           12.62
       29/06/2005               Sell                          75,000           12.63
       29/06/2005               Sell                         140,000           12.64
       29/06/2005               Sell                          50,000           12.65
       29/06/2005               Sell                          85,000           12.66
       29/06/2005               Sell                         110,000           12.67
       29/06/2005               Sell                          80,000           12.68
       29/06/2005               Sell                         200,000           12.69
       29/06/2005               Sell                         265,000           12.70
       29/06/2005               Sell                          20,000           12.71

       30/06/2005               Sell                          25,000           12.68
       30/06/2005               Sell                          45,000           12.69
       30/06/2005               Sell                          50,000           12.70
       30/06/2005               Sell                          25,000           12.71
       30/06/2005               Sell                          25,000           12.72
       30/06/2005               Sell                          25,000           12.73
       30/06/2005               Sell                          25,000           12.74
       30/06/2005               Sell                          25,000           12.75
       30/06/2005               Sell                          25,000           12.76
       30/06/2005               Sell                          25,000           12.77
       30/06/2005               Sell                          75,000           12.78
       30/06/2005               Sell                         125,000           12.79
       30/06/2005               Sell                         150,000           12.80
       30/06/2005               Sell                         175,000           12.81
       30/06/2005               Sell                         325,000           12.82
       30/06/2005               Sell                          75,000           12.83
       30/06/2005               Sell                         313,692           12.84
       30/06/2005               Sell                         201,148           12.85
       30/06/2005               Sell                         185,160           12.86
       30/06/2005               Sell                          85,000           12.87
       30/06/2005               Sell                         170,672           12.88
       30/06/2005               Sell                         107,000           12.89
       30/06/2005               Sell                          76,811           12.90



Madrid, July 1, 2005



                      This information is provided by RNS
            The company news service from the London Stock Exchange