Directorate Change, etc.

Banco Bilbao Vizcaya Argentaria SA
23 April 2002



 
RELEVANT EVENT 

BANCO BILBAO VIZCAYA ARGENTARIA, S.A. Informs that Mr. Juan Entrecanales has
resigned as member of the company Board of Directors.

RELEVANT EVENT 


BANCO BILBAO VIZCAYA ARGENTARIA, S.A. informs that has subscribed with the
reference shareholders of BNL an agreement of renewal of the Italian company
government, which will take place in next Meeting hold on 30 April in Rome, for
a period of three years.


In this agreement reached with Generali, Banes Monte del Pashi di Siena and
Banca Popolare di Vicenza. BBVA will name the person proposed for one of the
Vice-chairmanships and four representatives of the Board of Directors,
compounded by 13 members. Thus BBVA increases its representation in the BNL
Board.


The agreement also covers the re-election as Directors of the current Chairman
and Chief Executive Officer of the company, and the maintenance of the main
shareholders representation: Generali (two Directors), BMPS(one Director) and BP
Vicenza (one Director). The other three Directors are legally reserved to the
minority lists that could be presented.


The signatories have given an undertaking to reduce proportionally their joint
ownership (30.67%) up to 29.60% to fulfil the Italian law in share covenants.


The agreement is simultaneously been released to Banca d'Italia and Commissione
Nazionale per le Societa e la Borsa (CONSOB) according to the Italian law in
this kind of agreements.


BBVA confirms its place as BNL first shareholder, maintained since their
privatisation in 1999.


By market capitalisation BNL is the fifth Italian banking group, with a network
of 719 branches distributed all over the Italian territory. The company offers
global banking services to firms, individuals and institutions.


 
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