BBVA buy back programme

Banco Bilbao Vizcaya Argentaria SA
18 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
17, 2005:




          Date            Buy / Sell        No of shares           Price
       17/08/2005             Buy               40,328             13.78
       17/08/2005             Buy               60,000             13.79
       17/08/2005             Buy               60,000             13.80
       17/08/2005             Buy               60,000             13.81
       17/08/2005             Buy               60,000             13.82
       17/08/2005             Buy               60,000             13.83
       17/08/2005             Buy               60,000             13.84
       17/08/2005             Buy               60,000             13.85
       17/08/2005             Buy               30,000             13.86
       17/08/2005             Buy               30,000             13.87
       17/08/2005             Buy               30,000             13.88








                                                         Madrid, August 18, 2005


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