Buy back programme of shares

Banco Bilbao Vizcaya Argentaria SA
23 August 2005


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
18, 2005:


         Date                Buy / Sell                   No of shares             Price

      18/08/2005                Buy                             50,000             13.76
      18/08/2005                Buy                            100,000             13.77
      18/08/2005                Buy                            100,000             13.78
      18/08/2005                Buy                             84,677             13.79
      18/08/2005                Buy                             50,000             13.80
      18/08/2005                Buy                            400,000             13.81


Madrid, August 23, 2005


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