BBVA buy back programme

Banco Bilbao Vizcaya Argentaria SA
13 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 July 11
and 12, 2005:

          Date         Buy / Sell       No of shares        Price

       11/07/2005         Buy             136,411           12.86
       11/07/2005         Sell            125,000           12.84
       11/07/2005         Sell             45,000           12.85

       11/07/2005         Sell             65,000           12.86
       12/07/2005         Sell            120,000           12.90
       12/07/2005         Sell             80,000           12.91
       12/07/2005         Sell             25,000           12.92
       12/07/2005         Sell             25,000           12.93
       12/07/2005         Sell             95,000           12.94
       12/07/2005         Sell            150,000           12.95
       12/07/2005         Sell              5,000           12.96

Madrid, July 13, 2005


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