Board of DirectorsDeclaration

Banco Bilbao Vizcaya Argentaria SA
22 December 2004



                            OTHER COMMUNICATIONS

Regarding the information disclosed as of March 30th, 2004, BBVA informs that
its Board of Directors has agreed today to extend to Board Member Mr. Jose
Antonio Fernandez Rivero the period in which he will have to resign as a Board
Member of IBERDROLA and Telefonica, in order to comply with BBVA's Board Rules,
up to both companies' next General Shareholder meetings will take place.


                                                      Madrid, December 21th 2004


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