BBVA buy back programme

Banco Bilbao Vizcaya Argentaria SA
11 August 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:



SIGNIFICANT EVENT



In connection with the buy back programme of BBVA shares announced by means of
the significant 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 August
5, 9 and 10, 2005:




          Date               Buy / Sell                   No of shares             Price

       05/08/2005                 Buy                           14,995             13.69
       05/08/2005                 Buy                            8,223             13.66
       09/08/2005                Sell                           15,000             13.85
       09/08/2005                Sell                          115,000             13.86
       09/08/2005                Sell                            7,500             13.87
       10/08/2005                Sell                           15,000             13.95
       10/08/2005                Sell                           15,000             13.96
       10/08/2005                Sell                           15,000             13.97
       10/08/2005                Sell                           15,000             13.98
       10/08/2005                Sell                           15,000             13.99
       10/08/2005                Sell                           24,030             14.00
       10/08/2005                Sell                           15,000             14.01
       10/08/2005                Sell                           75,000             14.02
       10/08/2005                Sell                           95,970             14.03
       10/08/2005                Sell                           65,000             14.04
       10/08/2005                Sell                           15,000             14.05
       10/08/2005                Sell                           90,000             14.06
       10/08/2005                Sell                           40,000             14.07
       10/08/2005                Sell                           15,000             14.08







                                                         Madrid, August 11, 2005


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